(TCO 4) If a CPA firm is being sued for common law fraud by a third party based on materially false financial statements, which of the

$8.99
ACCT 444 Auditing  Week 2 Quiz Answers

 

  1. (TCO 4) If a CPA firm is being sued for common law fraud by a third party based on materially false financial statements, which of the following is the best defense the accountants could assert?
  2. (TCO 4) "Absence of reasonable care that can be expected of a person is a set of circumstances" defines
  3. (TCO 4) A third-party beneficiary is one that
  4. (TCO 4) The objective of the ordinary audit of financial statements is the expression of an opinion on
  5. (TCO 4) The auditor's best defense when material misstatements are not uncovered is to have conducted the audit
  6. (TCO 3) Which of the following statements is most correct regarding errors and fraud?
  7. (TCO 3) Which of the following is not one of the factors of the fraud triangle?
  8. (TCO 3) After fraud risks are identified and documented, the auditor should evaluate factors that _____ fraud risk, before developing an appropriate response to the risk of fraud.
  9. (TCO 3) Which of the following is a factor that relates to incentives to misappropriate assets?
  10. (TCO 3) Auditors may identify conclusions during fieldwork that change or support a judgment about the initial assessment of fraud risk. Which of the following conditions should alert an auditor about the initial assessment?