Weeks 1-3 (Audit)

1. What are the reasons for breaking the duty of confidence (ACCA Code of Ethics and Conduct)?

  • Self-interest threat, Mandatory disclosure, Criminal Activities
  • Criminal Offences, Obligatory disclosure, Voluntary disclosure
  • Criminal Offences, Breach of Conduct, Self-review threat
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2. Which is not a feature of the letter of engagement?

  • Expected form and contents of reports
  • Applicable financial reporting framework
  • Fees and billing arrangements
  • Auditors responsibilities
  • The other clients of the perspective audit firm
  • Confirmation of terms request
  • Responsibilities of management and directors
  • The objective and scope of the audit

3. ISA 315 regards

  • Agreeing to the terms to audit engagements
  • Identifying and assessing the risks of material misstatement through understating the entity and its environment
  • Materiality in planning and performing an audit
  • The auditors responsibilities relating to fraud in an audit of financial statements

4. ISA 240 regards

  • The auditors responsibilities relating to fraud in an audit of financial statements
  • Materiality in planning and performing an audit
  • Identifying and assessing the risks of material misstatement through understating the entity and its environment
  • Agreeing to the terms to audit engagements

5. How many International Standards of Auditing are there?

  • 36
  • 40
  • 30
  • 27

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