美國(guó)CPA考試經(jīng)典例題：大型公司及小型公司稅務(wù)和免稅機(jī)構(gòu)

1、美國(guó)CPA考試經(jīng)典例題:大型公司及小型公司稅務(wù)和免稅機(jī)構(gòu)(1Which of the following auditor concerns most likely could be so serious that the auditor concludes that a financial statement audit cannot be performed?a.Internal control activities requiring segregation of duties are rarely monitored by management.b.There is a substant

2、ial risk of intentional misapplication of accounting principles.c.Management is dominated by one person who is also the majority stockholder.d.Management fails to modify prescribed internal controls for changes in information technology.ExplanationChoice b is correct. Intentional misapplication of a

3、ccounting principles would indicate that management lacks integrity and as a result, the auditor might conclude that a financial statement audit cannot be performed.Choice d is incorrect. Managements failure to modify prescribed internal controls for changes in information technology would preclude

4、the auditor from relying on those controls but would not prevent the auditor from performing a financial statement audit.Choice a is incorrect. If management rarely monitors segregation of duties, the auditor would not rely on that particular control, but this would not prevent the auditor from perf

5、orming a financial statement audit.Choice c is incorrect. If management is dominated by one person who is also the majority stockholder, the risk of fraudulent financial reporting is increased, but this would not preclude the auditor from performing a financial statement audit.美國(guó)CPA考試經(jīng)典例題:大型公司及小型公司稅

6、務(wù)和免稅機(jī)構(gòu)(2Which of the following factors most likely would cause a CPA to not accept a new audit engagement?a.The CPA makes oral inquiries (only to the predecessor auditor regarding the prior years audit.b.The prospective client is unwilling to make all financial records available to the CPA.c.The CPA

7、 lacks an understanding of the prospective clients operations and industry.其他優(yōu)質(zhì)百度文檔推薦:d.The prospective client has already completed its physical inventory count.ExplanationChoice b is correct. An auditor must consider the availability and adequacy of the clients accounting records and the integrity

8、 of management in deciding whether or not to accept a new audit engagement. A prospective client that is unwilling to provide all financial records would give the auditor cause for concern about both of these issues.Choice d is incorrect. The auditor may apply acceptable alternative procedures to au

9、dit inventory.Choice c is incorrect. The auditor can accept the engagement and obtain an understanding of the clients operations and industry after acceptance.Choice a is incorrect. The CPA is required to make oral or written inquiries of the predecessor auditor before accepting an engagement. Oral

10、inquiries are sufficient here.美國(guó)CPA考試經(jīng)典例題:大型公司及小型公司稅務(wù)和免稅機(jī)構(gòu)(3A scope limitation sufficient to preclude an unmodified opinion always will result when management:a.Prevents the auditor from reviewing the audit documentation of the predecessor auditor.b.Engages the auditor after the year-end physical in

11、ventory is completed.c.Requests that certain material accounts receivable not be confirmed.d.Refuses to acknowledge its responsibility for the fair presentation of the financial statements in conformity with GAAP.ExplanationChoice d is correct. The introductory paragraph of the standard unmodified r

12、eport includes a statement that the financial statements are the responsibility of the companys management. Managements refusal to accept responsibility for the fair presentation of the financial statements therefore precludes issuance of this standard report.Choices a is incorrect. Preventing the r

13、eview of documentation of the predecessor auditor would be a reason not to accept the engagement.Choices b, and c are incorrect, as there are generally alternative procedures the 其他優(yōu)質(zhì)百度文檔推薦:auditor can perform to accomplish his or her goals.美國(guó)CPA考試經(jīng)典例題:大型公司及小型公司稅務(wù)和免稅機(jī)構(gòu)(4Which of the following factor

14、s most likely would lead a CPA to conclude that a potential audit engagement should be rejected?a.Management has a reputation for consulting with several accounting firms about significant accounting issues.b.It is unlikely that sufficient appropriate evidence is available to support an opinion on t

15、he financial statements.c.Internal control activities requiring the segregation of duties are subject to management override.d.The details of most recorded transactions are not available after a specified period of time.ExplanationChoice b is correct. A CPA cannot render an opinion on financial stat

16、ements unless he or she has obtained sufficient appropriate audit evidence supporting that opinion. If such evidence were unlikely to be available, the CPA would most likely reject the potential audit engagement.Choice d is incorrect. The auditor takes the availability of information into account wh

17、en planning the audit, and would need to perform testing throughout the period, but this would not be cause for rejecting a potential audit engagement.Choice c is incorrect. The risk of management override is considered during planning and would not be cause for rejecting a potential audit engagemen

18、t.Choice a is incorrect. Management may consult with several accounting firms, and this would not be cause for rejecting a potential audit engagement.美國(guó)CPA考試經(jīng)典例題:大型公司及小型公司稅務(wù)和免稅機(jī)構(gòu)(5Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement?a.Management

19、s disregard of its responsibility to maintain an adequate internal control environment.b.The CPAs lack of understanding of the prospective clients internal auditors 其他優(yōu)質(zhì)百度文檔推薦:computer-assisted audit techniques.c.The CPAs inability to determine whether related party transactions were consummated on

20、terms equivalent to arms-length transactions.d.Managements refusal to permit the CPA to perform substantive tests before the year-end.ExplanationChoice a is correct. The control environment is the foundation for all other components of internal control. Managements disregard of its responsibility to maintain an adequate internal control environment therefore compromises its ability to provide reasonable assurance regarding reliable financial reporting.