auditing theory mcqs (continuation) by salosagcol with answers

AUDITING THEORY MCQs BY SALOSAGCOL

CHAPTER 9

1. Of the following procedures, which does not produce analytical evidence?a. Compare revenue, cost of sales, and gross profit with the prior year and investigate

significant variationsb. Examine monthly performance reports and investigate significant revenue and expense

variancesc. Confirm customers account receivable and clear all material exceptions.d. Compare sales trends and profit margins with industry average and investigate significant

differences

2. Which of the following comparisons is most useful to an auditor in evaluating the results of an entity’s operations?a. Prior year accounts payable to current year accounts payableb. Prior year payroll expense to budgeted current year payroll expensec. Current year revenue to budgeted current year revenued. Current year warranty expense to current year contingent liabilities.

3. Which of the following analytical procedures should be applied to the income statement?a. Select sales and expense items and trace amounts to related supporting documentsb. Ascertain that the new income amount in the statement of cash flows agrees with the net

income amount in the income statementsc. Obtain from the client representatives, the beginning and ending inventory amounts that

were used to determine costs of salesd. Compare the actual revenues and expenses with the corresponding figures of the previous

year and investigate significant differences.

4. Which of the following tends to be most predictable for the purpose of analytical procedures applied as substantive test?

a. Relationships involving balance sheet accountsb. Transactions subject to management discretionc. Relationships involving income statement accounts.d. Data subject to audit testing in the prior year

5. Auditors try to identify predictable relationships when using analytical procedures. Relationships involving transactions from which of the following accounts most likely would yield the highest level of evidence?

a. Accounts payableb. Advertising expensec. Accounts receivabled. Interest expense.

6. Auditors sometimes use comparison of ratios as audit evidence. For example, an unexplained decrease in the ratio of gross profit to sales may suggest which of the following possibilities?

a. Unrecorded purchases


b. Unrecorded sales.c. Merchandise purchase being charged to operating expensed. Fictitious sales

7. Which result of an analytical procedure suggests the existence of obsolete merchandise?a. Decrease in the inventory turnover rate.b. Decrease in the ratio of gross profit to salesc. Decrease in the ratio of inventory to accounts payabled. Decrease in the ratio of inventory to accounts receivable

8. If accounts receivable turned over 8 times in 2014 as compared to only 6 times in 2015, it is possible that there werea. Unrecorded credit sales in 2015.b. Unrecorded cash receipts in 2014c. More thorough credit investigations made by the company late in 2014d. Fictitious sales in 2015

9. Which of the following would not be classified as an analytical procedure?a. Benchmarking the company’s profitability ratios against others in the industryb. Variance analysis of actual revenue versus budgeted amounts for productionc. Reperforming the client’s depreciation expense using the client’s accounting policies for

capital expenditures made during the yeard. Reconciling fixed assets disposition with the fixed asset ledger.

10. An auditor compares this year’s revenues and expenses with those of the prior year and investigates all changes exceeding 10%. By this procedure the auditor is most likely to learn thata. An increase in property tax rates has not been recognized in the client’s accrualb. This year’s provision for uncollectible account is inadequate because of worsening economic

conditionsc. December payroll taxes were not paidd. The client changed its capitalization policy for small tools during the year.


CHAPTER 10

1. The primary emphasis in most tests of details of balances is on the a. Balance sheet accountsb. Revenue accountsc. Cash flow statements accounts.d. Expense account

2. Evidence is usually more persuasive for balance sheet accounts where it is obtained:a. As close to the balance sheet date as possibleb. Only from transactions occurring on the balance sheet datec. From various times throughout the client’s yeard. From time period when transactions during the fiscal year.

3. Which of the following assertions is relevant to whether the company has title to the cash accounts as of the balance sheet date?a. Existence or occurrenceb. Completenessc. Rights and obligations.d. Valuation or allocation

4. Which of the following assertions is relevant to whether the cash balances reflect the true underlying economic value of those assets?

a. Existence or occurrenceb. Completenessc. Rights and obligationsd. Valuation or allocation.

6. Employee steals a payment from Customer X. To cover the theft, the employee applies a payment from Customer Y to Customer X’s account. Before Customer Y has time to notice that its account has not been appropriately credited, the employee applies a payment from Customer Z to Customer Y’s account.

a. Skimmingb. Kitingc. Collateralizingd. Lapping.

7. Which of the following controls represents a control over cash that is unique to cash accounts?a. Separation of dutiesb. Restrictive endorsements of customer checks.c. Periodic internal auditsd. Competent, well-trained employees

8. Which of the following assertions is relevant to the audit procedure for marketable securities that requires the auditor to examine selected documents to identify any restrictions on the marketability of securities?

a. Existence or occurrenceb. Completeness


c. Rights and obligations.d. Valuation or allocation

9. Which of the following represents a reasonable test of controls for cash receipts and cash management controls?

a. Document internal controls over cash by completing the internal control questionnaire or by flowcharting the process.b. Prepare an independent bank reconciliationc. Obtain a bank confirmationd. Obtain a bank cutoff statement

10. Which of the following assertions is relevant to whether the marketable securities balances include all securities transactions that have taken place during the period?

a. Existence or occurrenceb. Completeness.c. Rights and obligationsd. Valuation or allocation


CHAPTER 11

1. A proper segregation of duties requiresa. An individual authorizing a transaction records itb. An individual authorizing a transaction maintains a custody of the asset that resulted

from the transactionc. An individual maintain custody of an asset be entitled to access the accounting records

for the assetd. An individual recording a transaction not compare the accounting record of the asset

with the asset itself

2. The primary responsibility for establishing and maintaining an internal control rests witha. The external auditorsb. The internal auditorsc. Management and those charged with governanced. The controller or the treasurer

3. When the auditor attempts to understand the operation of the accounting system by tracing a few transactions through the accounting system, the auditor is said to be:

a. Tracingb. Vouchingc. Performing a walk-throughd. Testing controls

4. Which of the following statements is incorrect about walk-through tests?a. It involves tracing a few transactions through the accounting systems.b. This procedure may form part of tests of control.c. The nature and extent of walk-through tests performed by the auditor are such that

they alone would provide sufficient appropriate audit evidence to support a low assessment of control risk.

d. This procedure is performed to determine whether the controls are being implemented.

5. You are auditing the company’s purchasing process for goods and services. You are primarily concerned with the company not recording all purchase transactions. Which audit procedure below would be the most effective audit procedure in this case?

a. Vouching from the accounts payable account to the vendor invoices.b. Tracing vendor invoices to recorded amounts in the accounts payable account.c. Confirmation of accounts payable recorded amounts.d. Reconciling the accounts payable subsidiary ledger to the accounts payable account.

6. Which result of an analytical procedure suggests the existence of obsolete merchandise?a. Decrease in inventory turnover rateb. Decrease in the ratio of gross profit to salesc. Decrease in the ratio of inventory to accounts payabled. Decrease in the ratio of inventory to accounts receivable


7. Which of the following is the best example of a corroborating evidence?a. General journalb. Worksheet cost allocationsc. Vendor’s invoiced. Cash receipts journal

8. An entity’s ongoing monitoring activities often includea. Periodic audits by the audit committee.b. Reviewing the purchasing function.c. The audit of the annual financial statements.d. Control risk assessment in conjunction with quarterly reviews.

9. Which of the following is an example of fraudulent financial reporting?a. Company management changes inventory count tags and overstates ending inventory,

while understating costs of goods sold.b. The treasurer diverts customer payments to his personal due, concealing his actions by

debiting an expense account, thus overstating expenses.c. An employee steals small tools from the company and neglects to return them; the cost

is reported as a miscellaneous operating expense.d. An employee omitted an entry to record a bank transfer to cover a cash shortage.

10. When obtaining audit evidence about the effective operation of internal controls, the auditor considers all of the following except

a. How they were appliedb. The consistency with which they were applied during the periodc. By whom they were appliedd. Why they were applied


CHAPTER 12

1. Which of the following is an internal control weakness related to acquisition of factory equipment?

a. Acquisitions are to be made through and approved by the department in need of the equipment.

b. Variances between authorized equipment expenditures and actual costs are to be immediately reported to management.

c. Depreciation policies are reviewed only once a year.d. Advance executive approvals are required for equipment acquisitions.

2. It is an approximation of the amount of an item in the absence of a precise means of measurement

a. Accounting estimateb. Audit samplingc. Materialityd. Audit risk

3. In evaluating the reasonableness of an accounting estimate, an auditor most likely would concentrate on key factors and assumptions that are

a. Consistent with prior periods.b. Similar to industry guidelines.c. Objective and not susceptible to bias.d. Deviations from historical patterns.

4. In evaluating an entity’s accounting estimates, one of an auditor’s objectives is to determine whether the estimates are

a. Not subject to bias.b. Consistent with the industry guidelines.c. Based on objective assumptions.d. Reasonable in the circumstances.

5. The auditor should adopt one or a combination of the following approaches in the audit of an accounting estimate:

I. Review and test the process used by management to develop the estimate.II. Use an independent estimate for comparison with that prepared by management.

III. Review subsequent events which confirms the estimate made.

a. Any of the aboveb. None of the abovec. Either I or IId. I only

6. In evaluating the assumptions on which the estimate is based, the auditor would need to pay particular attention to assumptions which are


a. Reasonable in light of actual results in prior periods.b. Consistent with those used for other accounting estimates.c. Consistent with management’s plans which appear appropriate.d. Subjective or susceptible to material misstatement.

7. Which of the following statements is incorrect about accounting estimates?a. Management is responsible for making accounting estimates included in the financial

statements.b. The risk of material misstatement is greater when accounting estimates are involved.c. The evidence available to support an accounting estimate will often be more difficult to

obtain and less conclusive than evidence available to support other items in the financial statements.

d. When evaluating accounting estimates, the auditor should pay particular attention to assumptions that are objective and are consistent with industry patterns.

8. Which of the following would an auditor generally perform to obtain assurance that accounting estimates are properly accounted for and disclosed?

a. Inquiry of managementb. Make an independent estimate for comparison with client’s estimatec. Review subsequent eventsd. Obtain knowledge about the applicable financial reporting standards related to the

accounting estimate.

9. Which of the following procedures would an auditor least likely perform when evaluating the reasonableness of management’s estimates?

a. Make an independent estimates for comparison with management estimatesb. Read the minutes of board of director’s meetingc. Review and test the process used by managementd. Review subsequent events which confirm the estimates made

10. Which of the following procedures would an auditor ordinarily perform first in evaluating management’s accounting estimates for reasonableness?

a. Develop independent expectations of management’s estimates.b. Consider the appropriateness of the key factors or assumption used in preparing the

estimates.c. Test the calculations used by the management in developing the estimates.d. Obtain an understanding of how management developed its estimates.


CHAPTER 13

1. The current file of an auditor’s working papers most likely would include a copy of thea. Bank reconciliationb. Articles of incorporationc. Pension plan contractd. Flowchart of the internal control procedures

2. The primary concern of the auditor regarding related party transactions is thata. They are reported to proper regulatory authorities because they are illegalb. Their form be emphasized rather than their economic substancec. Their existence and significance be adequately disclosedd. Their effects are eliminated from the financial statements

3. The permanent file of an auditor’s working papers generally would not includea. Bond indenture agreementsb. Working trial balancec. Lease agreementsd. Flowchart of the intentional control structure

4. A person or firm possessing special skill, knowledge and experience in a particular field other than accounting and auditing is called a/ana. Professionalb. Consultantc. Expertd. Assistant

5. Which of the following is not an expert upon whose work an auditor may rely?a. Actuaryb. Internal auditorc. Appraiserd. Engineer

6. To operate effectively, an internal auditor must be independent ofa. The line functions of the organizationb. The entityc. The employer-employee relationship which exists for other employees in the organizationd. The audit committee of the board of directors

7. The sufficiency and appropriateness of evidential matter ultimately is based on thea. Availability of corroborating datab. Philippine Standards on Auditingc. Pertinence of the evidenced. Judgment of the auditor

8. An auditor’s working papers will generally be least likely to include documentation showing how thea. Client’s schedules were prepared


b. Engagement had been plannedc. Client’s system of internal control had been reviewed and evaluatedd. Unusual matters were resolved

9. Audit files that are updated with new information of continuing importance is calleda. Current filesb. Working paper filec. Permanent filesd. Correspondence file

10. The permanent (continuing) file of an auditor’s working papers more likely would include copies of thea. Bank statementsb. Lead schedulec. Debt agreementsd. Attorney’s letters


CHAPTER 14

1. “Subsequent events” are defined as events which occur subsequent to thea. Financial statement dateb. Date of the auditor’s report c. Financial statement date but prior to the date of the auditor’s reportd. Date of the auditor’s report and concern contingencies which are not reflected in the financial statements

2. Which of the following events in the subsequent period will require disclosure in the notes to financial statements?a. Realization of recorded year-end receivables at a different amount than recordedb. Settlement of recorded year-end estimated product warranty liabilities at a different amount than recordedc. Purchase of a machined. Purchase of a business

3. Which of the following statements about a representation letter is not correct?a. It is optionalb. It is addressed to the auditorc. It confirms oral representation made by managementd. Its date should coincide with the date of the audit report

4. A representation letter issued by a clienta. Is essential for the preparation of the audit programb. Is a substitute for testingc. Does not reduce auditor’s responsibilityd. Reduces the auditor’s responsibility only to the extent that it is relied upon

5. Which of the following conditions or events most likely would cause an auditor to have significant doubt about an entity’s ability to continue as a going concern?a. Cash flow from operating activities are negativeb. Research and development projects are postponedc. Significant related party transactions are pervasived. Stock dividends replace annual cash dividends

6. The date of the management representation letter should coincide with the date of thea. Balance sheetb. Latest interim financial statementsc. Auditor’s reportd. Latest related party transaction

7. If a lawyer refuses to furnish corroborating information regarding litigation, claims and assessments, the auditor shoulda. Honor the confidentiality of the client-lawyer relationshipb. Consider the refusal to be tantamount to a scope limitationc. Seek to obtain the corroborating information from management


d. Disclose this fact in a footnote to the financial statements

8. Soon after Kyle’s audit report was issued, Kyle learned of certain related party transactions that occurred during the year under audit. These transactions that occurred during the year under audit. These transactions were not disclosed in the notes to the financial statements. Kyle shoulda. Plan to audit the transactions during the next engagementb. Recall all copies of the audited financial statementsc. Determine whether the lack of disclosure would affect the auditor’s reportd. Ask the client to disclose the transactions in subsequent interim statements

9. The auditor is most likely to discover omitted audit procedures duringa. Preparation of the management letterb. Follow-up procedures performed in compliance with generally accepted auditing standardsc. The conference held with the client prior to issuing the audit report d. A post engagement review performed as part of the firm’s quality control inspection program

10. When an investigation of the discovery of facts existing at the report date confirms the existence of the fact and the auditor believes the information is important to those relying or likely to rely on the financial statements, the auditor should immediately:a. Take steps to prevent future reliance on the audit reportb. Notify the SEC or other regulatory agencyc. Resign from the engagementd. Take no action since the auditor is not responsible for such matters


CHAPTER 15

1. Which of the following statement is not correct about the unmodified audit report in the financial statement?

a. The auditor’s report shall include a section with a heading “Management’s Responsibility for the financial statements”

b. The auditor’s report shall include a section with a heading “Auditor’s Responsibility”c. The auditor’s report shall include a section with a heading “Basis for Opinion”d. The auditor’s report shall include a section with a heading “Opinion”

2. PSA 700 requires the auditor’s report to describe management’s responsibility for the financial statements. The description shall include an explanation that management is responsible for the preparation of the financial statements and

a. For selecting and applying appropriate accounting policiesb. For such internal control as it determines necessary to enable the preparation of

financial statement that are free from material misstatementc. For making accounting estimates that are reasonable in the circumstancesd. Preventing collusion among employees

3. Which section of the auditor’s report gives a general description of opiniona. Introductory paragraphb. Auditor’s responsibilityc. Management’s responsibilityd. Auditor’s Opinion

4. The auditor’s inability to obtain sufficient appropriate audit evidence may arise from all of the following conditions, except

a. Restriction imposed my management on the scope of the auditb. Limitations beyond the control of the entityc. Limitations relating to the nature or timing of the auditor’s workd. Restrictions on the disclosures in the financial statements

5. When an auditor expresses a qualified opinion due to a material misstatement, the auditor shall include in the opinion paragraph

A description of material misstatement

A quantification of effects of misstatement if

practicablea. Yes Nob. Yes Yesc. No Nod. No Yes


6. Which of the following is correct about “Emphasis of a Matter” paragrapha. In a very rare circumstances, the “Emphasis of a Matter” paragraph may be used as a

substitute for a qualification of an opinionb. An “Emphasis of a Matter” paragraph may be used to give emphasis to as specific item

that has not been appropriately disclosed in the notes to the financial statementsc. An “Emphasis of a Matter” paragraph may be used to restrict the distribution of the

auditor’s report when examining special purpose financial statementsd. An “Emphasis of a Matter” paragraph may be used to alert the readers that the financial

statement are presented in accordance with a special purpose framework

7. Which of the following circumstances will least likely affect the auditor’s opinion?a. A client imposed scope limitationb. A circumstance imposed scope limitationsc. Inadequacy of disclosure in the notes to financial statementsd. Uncertainty arises about entity’s continued existence

8. When reporting on comparative financial statements where the financial statements of the prior year have been examined by the predecessor auditor whose report is not presented, the successor auditor should make

a. No reference to the predecessor auditorb. Reference to the predecessor auditor only if the predecessor auditor expressed a

qualified opinionc. Reference to the predecessor auditor only if the predecessor auditor expressed an

unmodified opiniond. Reference to the predecessor auditor regardless of the type of opinion expressed by the

predecessor auditor

9. Which of the following best describes the auditor’s responsibility for “other information” included in the annual report to the stockholders that contains financial statements and the auditor’s report?

a. The auditor has no obligation to read the other information.b. The auditor has no obligation to corroborate the other information but should read it to

determine whether it is materially inconsistent with the financial statementsc. The auditor should extend the examination to the extent necessary to verify the other

information.d. The auditor must modify the auditor’s report to state that the other information is

unaudited or not covered by the auditor’s report

10. If the auditor’s report on audited financial statements contains an adverse or disclaimer of opinion, the auditor’s report on the summary financial statements should


a. Not have to indicate the fact that the auditor’s report on the audited financial statements contains an adverse or disclaimer of opinion

b. Indicate the effect of such modification on the summary financial statementsc. Indicate the basis for that opinion d. Contain either an adverse or disclaimer of opinion on the summary financial statements


CHAPTER 16

1. Which of the following procedures should an auditor generally perform regarding subsequent events?

a. Compare the latest available interim financial statements with the financial statements being audited.

b. Send second requests to the client’s customers who failed to respond to initial account receivable confirmation request.

c. Communicate material weaknesses in the internal control structure to the client’s audit committee

d. Review the cut-off bank statements for several months after the year-end.

2. The procedures to identify events that may require adjustment of, or disclosure in, the financial statements would be performed as near as practicable to the date of the auditor’s report. These procedures would ordinarily include the following except

a. Reviewing procedures management has established to ensure that subsequent events are identified.

b. Reading minutes of the meetings of shareholders, the board of directors and audit and executive committee held after period end and inquiring about matters discussed at meetings for which minutes are not yet available.

c. Testing the effectiveness of those internal control policies and procedures that may have significantly changed in the subsequent period.

d. Inquiring or extending previous oral or written inquiries, of the entity’s lawyers concerning litigation and claims.

3. Which of the following subsequent events will be least likely to result in an adjustment to the financial statements?

a. Culmination of events affecting the realization of account receivable owned as of the balance sheet date.

b. Culmination of events affecting the realization of inventories owned as of the balance sheet date.

c. Material changes in the settlement of liabilities which were estimated as of the balance sheet date.

d. Material changes in the quoted market prices of listed investment securities since the balance sheet date.

4. Which of the following is not among the characteristics of the procedures performed in completing the audit?

a. They are optional since they have only an indirect impact on the opinion to be expressed

b. They involve many subjective judgments by the auditor.


c. They are usually after the balance sheet date.d. They are usually performed by audit managers or other senior members of the audit

team who have extensive audit experience with the client.

5. Which of the following procedures would an auditor most likely perform to obtain evidence about the occurrence of subsequent events?

a. Recomputing a sample of large-peso transactions occurring after year-end for arithmetic accuracy.

b. Investigating changes in stockholders’ equity occurring after year-end.c. Inquiring of the entity’s legal counsel concerning litigation, claims and assessments

arising after year-end.d. Confirming ban accounts established after year-end.

6. A major customer of an audit client suffers a fire just prior to completion of year-end field work. The audit client believes that this event could have a significant direct effect on the financial statements. The auditor should

a. Advise management to disclose the event in notes to the financial statements.b. Disclose the event in the auditor’s report.c. Withhold submission of the auditor’s report until the extent of the direct effect on the

financial statements is known.d. Advise management to adjust the financial statements.

7. Which of the following statement about representation letter is not correct?a. It is optionalb. It is addressed to the auditorc. It confirms oral representation made by managementd. Its date should coincide with the date of the audit report.

8. Which of the following conditions or events most likely would cause an auditor to have significant doubt about an entity’s ability to continue as a going concern??

a. Cash flow from operating activities are negativeb. Research and development projects are postponedc. Significant related party transactions are pervasive d. Stock dividends replace annual cash dividends

9. Analytical procedures in the overall review should be:a. Applied to every item on the financial statement.b. Performed by the partner or manager on the engagement c. Based on financial statement data before all audit adjustments and reclassification have

been recognized.d. Performed only when material misstatement is expected.


10. After issuing a report, an auditor has no obligation to make continuing inquiries or perform other procedures concerning the audited financial statements, unless

a. Information, which existed at the report date and may affect the report, comes to the auditor’s attention.

b. Management of the entity request the auditor to reissue the auditor’s reportc. Information about an event that occurred after the end of fieldwork comes to the

auditor’s attentiond. Final determinations and resolutions are made of contingencies that had been disclosed

in the financial statements.


CHAPTER 17

1. Which of the following best describes a review service?a. A review engagement focuses on providing advice in a three-party contract.b. A review engagement focuses on providing assurance on the internal controls of a public

company.c. A review engagement focuses on providing limited assurance on financial statements of a

public company.d. A review engagement focuses on providing on reasonable assurance on the assertions

contained in the financial statements of a public company.

2. When performing a review on financial statements, the CPA is required toa. Apply analytical procedures and make inquiries from third parties by sending confirmation

letters.b. Assess the effectiveness of the client’s accounting and internal control systems.c. Obtain corroborative evidence to support management’s responses to inquiries.d. Obtain understanding of the client’s business and industry.

3. A review does not provide assurance that the CPA will become aware of all significant matters that would be disclosed in an audit. However, if the CPA becomes aware that information coming to his attention is incorrect, incomplete, or otherwise unsatisfactory, he shoulda. Withdraw immediately from the engagementb. Perform additional procedures he deems necessary to achieve limited assurance.c. Perform a complete audit and issue a standard audit report with appropriate qualifications.d. Downgrade the engagement to a compilation and issue the appropriate report

4. An agreed-upon procedures is one in which:a. The auditor and management agree that the procedures will be applied to all accounts and

circumstancesb. The auditor and management agree that the procedures will not be applied to all accounts

and circumstancesc. The auditor and management or a third party agree that the engagement will be limited to

certain specific procedures.d. The auditor and management or a third party agree that the auditor will apply his or her

judgment to determine procedures to be performed.

5. Distribution of which of the following types of reports is limited?a. Audit


b. Reviewc. Agreed-upon proceduresd. Examination

6. Which of the following procedures would an accountant most likely perform in a compilation engagement?a. Collect, classify and summarize financial informationb. Apply analytical proceduresc. Assess risk componentsd. Test the accounting records

7. A CPA should perform analytical procedures during engagement toI. AuditII. ReviewIII. Compilea. Yes, Yes, Yesb. Yes, Yes, Noc. No, Yes, Nod. Yes, No, No

8. Which of the following is not one of the elements of an assurance engagement?a. Sufficient appropriate evidenceb. A subject matterc. Suitable criteriad. An opinion about whether the subject matter conform, in all material respects, with

identified criteria

9. In an engagement to examine prospective financial information, the auditor should obtain sufficient appropriate evidence as to whether:I. Management’s best estimate assumptions on which the prospective financial

information is based are not unreasonable and, in the case of hypothetical assumptions, such assumptions are consistent with the purpose of the information.

II. The prospective financial information is properly prepared on the basis of the assumptions.

III. The prospective financial information is properly presented and all material assumptions are adequately disclosed, including a clear indication as to whether they are best-estimate assumptions or hypothetical assumptions.


IV. The prospective financial information is prepared on a consistent basis with historical financial statements, using appropriate accounting principles.

a. I, II, III and IVb. I, II and IIIc. I and IId. I, II and IV

10. The party responsible for assumptions identified in the preparation of prospective financial statements is usuallya. A third-party lending institutionb. The client’s managementc. The reporting accountantd. The independent auditor

auditing theory mcqs (continuation) by salosagcol with answers

Documents