FILE ÔN KIỂM TOÁN GIỮA KỲ

Biên soạn file: Quang Hưng, Quỳnh Anh

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Hỗ trợ tích cực: Hồng Anh
Ngân hàng đề MPC của cô có hơn 40 câu, nên nếu ai thấy câu nào mới thì nhắn t để t bổ
sung vào file nha. Update lần cuối là 22h12p, được 60 câu, ai có câu nào mới thì gửi để t
update tiếp.
1/An entity changed from the straight-line method to the declining-balance method of
depreciation for all newly acquired assets. This change has no material effect on the current
year's financial statements but is reasonably certain to have a substantial effect in later
years. If the change is disclosed in the notes to the financial statements, in the current year,
the auditor should issue a report with a:
a. unmodified opinion.
b. qualified opinion.
c. unmodified opinion with explanatory paragraph.
d. qualified opinion with explanatory paragraph regarding consistency.
2/Cash receipts from sales on account have been misappropriated. Which of the following
acts will conceal this embezzlement and be least likely to be detected by the auditor?
a. Understating the sales journal
b. Overstating the accounts receivable control account
c. Overstating the accounts receivable subsidiary records
d. Understating the cash receipts journal
3/If an independent audit leading to an opinion on financial statements causes the auditor to
believe that a material misstatement due to fraud exists, the auditor should first
a. consider whether fraud was the result of a failure by employees to comply with
existing controls.
b. make the investigation necessary to determine whether fraud has actually occurred.
c. consider the implications for other aspects of the audit and discuss the matter with
the appropriate levels of management.
d. request that management investigate to determine whether fraud has actually
occurred
4/The auditor's responsibility regarding material misstatements caused by fraud is
a. less than the auditor's responsibility regarding material misstatements caused by
error
b. either less than or greater than the auditor's responsibility regarding material
misstatements caused by error, depending on the circumstances
c. greater than the auditor's responsibility regarding material misstatements caused by
error
d. the same as the auditor's responsibility regarding material misstatements caused by
error
5/Which of the following correctly describes an internal control component?
a. Monitoring relates to ongoing assessment by management to determine whether
controls are operating as intended.
b. Control activities set the tone of the organization.
c. Risk assessment relates to assessing the quality of the internal control structure over
ume.
 d. Information and communication systems have to do with management's analysis of
risk.
6/The auditor uses knowledge gained from the understanding of the client's business and
industry to assess:
a. client business risk.
b. control risk.
c. inherent risk.
d. audit risk.
7/While performing a preliminary assessment for a new client audit, the auditor determines
that the client has had excessive growth over the past several years due to recent
acquisitions and internal expansion. Through discussions with management, the auditor
concludes that the company's operational staff is too lean and that internal controls in
several operational functions may be currently insufficient to accommodate this rapid growth.
About which of the following fraud risk factors related to the client would the auditor have the
greatest concern?
a. Inadequate organizational structure
b. Opportunity
c. Incentives/pressures
d. Rationalization/attitude
8/What is the meaning of the rule that requires the auditor be independent?
a. The auditor must be without bias with respect to the client under audit.
b. The auditor must adopt a critical attitude during the audit.
c. The auditor's sole obligation is to third parties.
d. The auditor may have a direct ownership interest in the client's business if it is not
material.
9/It is always a good idea for auditors to begin an audit with the professional skepticism
characterized by the assumption that:
a. In audits of financial statements, the auditor acts exclusively in the capacity of an
auditor.
b. The professional status of the independent auditor imposes commensurate
professional obligations.
c. Financial statements and financial data are verifiable.
d. A potential conflict of interest always existed between the auditor and the
management of the enterprise under audit.
10/Which one of the following is a true statement about the required fraud risk assessment
discussion?
a. The discussion should include consideration of the risk of management override of
controls.
b. The discussion about the susceptibility of the entity's financial statements to material
misstatement must be held separately from the discussion about the susceptibility of
the entity's financial statements to fraud.
c. The fraud risk assessment discussion should occur during the overall review stage of
the audit.
d. The discussion should involve all members who participate on the audit team,
including the engagement partner
11/Which of the following audit tests would be regarded as a substantive test only?
a. Tests of the signatures on purchase orders to a list of approved signatories.
b. Comparing inventory good receipt notes, pricing list to vendors' invoices.
 c. Interview the sales accountant to verify that whether they perform proper
authorisations for sale orders.
d. Tests of the additions to property, plant and equipment by physical inspections.
12/In an attestation engagement, a CPA practitioner is engaged to:
a. Give expert testimony in court on particular facts in a corporate income tax
controversy.
b. Prepare a tax return using information the CP has not audited or reviewed.
c. Prepare a written report containing a conclusion about the reliability of a
management assertion.
d. Compile a company's financial forecast based on management's assumptions
without expressing any form of assurance
13/Which of the following best describes why an independent auditor is asked to express
an opinion on the fair presentation of financial statements?
a. it is management's responsibility to seek available independent aid in the appraisal of
the financial information shown in its financial statements
b. it is a customary courtesy that all stock-holders of a company receive an independent
report on management's stewardship of the affairs of the business
c. the opinion of an independent party is needed because a company may not be
objective with respect to its own financial statements
d. it is difficult to prepare financial statements that fairly present a company's financial
position, operations, and cash flows without the expertise of an independent auditor.
14/Which of the following circumstances would most likely cause an auditor to suspect that
there are material misstatements in an entity's financial statements?
a. Monthly bank reconciliations ordinarily include several outstanding checks.
b. Management outsources the internal audit function to another CPA firm.
c. The entity's management strictly enforces its integrity and ethical values.
d. The auditor identifies an inappropriate valuation method that is widely applied by the
entity.
15/Which of the following is least likely to suggest to an auditor that the client's management
may have overridden internal control?
a. Differences are always disclosed on a computer exception report.
b. Management does not correct internal control weaknesses that it knows about.
c. There have been two new controllers this year.
d. There are numerous delays in preparing timely internal financial reports.
16/The AICPA Code of Professional Conduct states that a CPA shall "not disclose any
confidential client information obtained in the course of a professional engagement except
with the consent of the client”. In which one of the following situations would disclosure by a
CPA be in violation of the Code?
a. Disclosing confidential information to another accountant interested in purchasing the
PA's practice.
b. Disclosing confidential information in order to properly discharge the CPA'5
responsibilities in accordance with the profession's standards.
c. Disclosing confidential information in compliance with a subpoena issued by a court.
d. Disclosing confidential information during an AICPA-authorized peer review.
17/Which of the following characteristics is most likely to heighten an auditor's concern about
the risk of material misstatements due to fraud in an entity's financial statements?
a. internal auditors have direct access to the board of directors and the entity's
management.
 b. The board of directors is active in overseeing the entity's financial reporting policies.
c. Employees who handle cash receipts are not bonded.
d. The entity's industry is experiencing declining customer demand.
18/Which of the following best describes the operational audit?
a. It concentrates on seeking aspects of operations in which waste could be reduced by
the introduction of controls.
b. It concentrates on implementing financial and accounting control in a newly
organized company.
c. It focuses on verifying the fair presentation of a company's results of operations.
d. It requires the constant review by internal auditors of the administrative controls as
they relate to the operations of the company.
19/Proper segregation of functional responsibilities calls for separation of the functions of
a. authorisation, recording, and custody.
b. custody, execution, and reporting.
c. authorisation, payment, and recording.
d. authorisation, execution, and payment.
20/Because of the risk of material misstatement, an audit should be planned and performed
with an attitude of
a. objective judgment.
b. impartial conservatism.
c. professional skepticism.
d. independent integrity.
21/ Actions, policies, and procedures that reflect the overall attitude of management,
directors, and owners or the entity about internal control relate to which of the following
internal control components?
a. Risk assessment
b. Monitoring
c. Information and communication
d. Control environment
22/ Using the same auditor team on an assurance engagement over a long period of time
most likely creates which of the following threats to auditor independence?
a. Seft-review
b. Familiarity.
c. Intimidation
d. Self-interest
23/ The concept of materiality would be least important to an auditor when considering the
a. Discovery of weaknesses in a client's internal control structure.
b. Effects of a direct financial interest in the client on the CPA's independence
c. Adequacy of disclosure of a client's illegal act
d. Types or evidence to use In testing accounts receivable
24/ Inherent risk and control risk differ from planned detection risk in that they:
a. Arise from the misapplication of auditing procedure!
a. May be assessed in either quantitative or non-quantitative terms
b. Exist independently of the financial statement audit.
c. Can be changed at the auditor's discretion
25/ Which of the following would not be classified as an analytical procedure?
 a. Estimating the client's depreciation expense using the client's accounting policies tor
capital expenditures made during the year end comparing to actual depreciation
expense.
c. Reconciling fixed asset dispositions with the fixed asset ledger.
d. Performing variance analysis of actual versus budgeted amounts for production
e. Benchmarking the company's profitability ratios against others in the Industry
26/ Which of the following attributes is likely to be unique to the audit work of CPAs as
compared to the work performed by practitioners of other professions?
a. Competence
b. Due professional care
c. Complex body or Knowledge
d. Independence.
27/ A determination of Cost Savings Obtained by outsourcing cafeteria services Is most
likely to be an objective of:
a. Compliance auditing
b. Financial auditing.
c. Operational auditing
d. Environmental auditing
28/ In the audit of accounts payable, an auditor's procedures will most likely focus primarily
on management's assertion about account balances of
a. Existence
b. Completeness
c. Classification and understandability
d. Valuation and allocation
29/ Which of the following does not increase the need for sufficient appropriate audit
evidence?
a. A lower acceptable audit risk
b. An increase in the assessed control risk
c. A decrease in the assessed inherent risk
d. A lower acceptable level of detection risk
30/ When auditor consider the red flags of fraudulent in FSs, what is the appropriate
activities they prefer to:
a. Report the matter to Office of the State Comptroller
b. Announce to Securities and Exchange Commission
c. Announce to the matter to management in the management letter.
d. Report the matter to management as soon as possible.
31/ An auditor reviews aged accounts receivable to assess likelihood of collection to support
management's assertions about account balances of
a. Rights and obligations Because
b. Valuation and allocation.
c. Existence
d. Completeness
32/ Which of the following engagements is most likely to be considered an operational audit?
a. The auditor evaluates the organization's efficiency in processing payments
b. the auditor determines whether the organization is following provisions of laws and
regulations
c. The auditor assists the client in preparation of financial statements
 d. The auditor examines information presented in an entity's financial statements to
determine whether the financial statements are presented fairly in accordance with
the applicable financial reporting framework
33/ Some account balances, such as those for pension and leases, are the result of complex
calculations. The susceptibility to material misstatements in these types or accounts Is
defined as:
a. Audit risk
b. Inherent risk
c. Sampling risk
d. Detection risk
34/ Analytical procedures used in planning an audit should focus on identifying:
a. Material weaknesses in internal control
b. The predictability of financial data from individual transactions
c. Areas that may represent specific risks relevant to the audit.
d. The various assertions that are embodied in the financial statements
35/ An auditor strives to achieve independence in appearance to
a. Maintain an unbiased mental attitude
b. Comply with the auditing standards related to audit performance.
c. Maintain public confidence in the profession.
d. Become independent in fact
36/ Which of the following factors is most important in determining the appropriateness of
audit evidence?
a. The risk of material misstatements
b. The quantity of the evidence obtained
c. The objectivity of the auditor gathering the evidence
d. The reliability of the evidence in meeting the objective of audit tests
37/ Which one of the following is NOT one of the five fundamental principles of professional
conduct set out in the Code of Ethics for Professional Accountants?
a. Integrity
b. Continuing education
c. Confidentiality
d. Objectivity
38. The major reason an independent auditor gathers audit evidence is to
a. evaluated management.
b. assess control risk
c. detect fraud.
d. form an opinion of the financial statements.
39/ When controls leave no documentary evidence or trail:
a. The auditor generally observes them being applied
b. The only way available as verification or their effectiveness is inquiry or
management.
c. It is impossible to audit that area or client's system
d. It is impossible to verify them so the auditor will have to rely on substantive tests
40/ An audit of financial statements is conducted to determine whether the:
a. Organisation is operating efficiently and effectively
b. None of the above
c. Auditee is following specific procedures or rules set down by a peer group authority.
d. Overall financial statements are stated in accordance with specified criteria
41/ The date of the CPA's opinion on the financial statements of the client should be the date
of the
a. Completion of all important audit procedures
b. Closing of the client's books.
c. Submission of the report to the client.
d. Finalization of the terms of the audit engagement
42/What requirements are usually necessary to become licensed as a certified public
accountant?
a. Experience in the accounting field.
b. All of the above.
c. Education.
d. Successful completion of the Uniform CPA Examination.
43/As the acceptable level of detection risk decreases, the auditor should:
a. obtain less audit procedures to have less audit evidence
b. perform tests of controls
c. do not extent any audit procedures
d. extent of audit procedures, perhaps by using larger sample sizes.
44/Compliance auditing often extends beyond audits leading to the expression of opinions
on the fairness of financial presentation and includes audits of efficiency, economy,
effectiveness, as well as
a. internal control.
b. adherence to specific rules or procedures.
c. evaluation.
d. accuracy.
45/Operational audits generally have been conducted by internal auditors and governmental
audit agencies but may be performed by certified public accountants. A primary purpose of
an operational audit is to provide:
a. aid to the independent auditor, who is conducting the audit of the financial statements
b. the results of internal examinations of financial and accounting matters to a
company's top-level management
c. a means of assurance that internal accounting controls are functioning as planned
d. a measure of management performance in meeting organizational goals
46/When considering the arrangement of staff to an engagement, an audit partner must
always:
a. ensure the client is satisfied
b. be satisfied that the staff has the appropriate expertise and independence.
c. ensure the audit staff are satisfied
d. ensure confidentiality is not compromised
47/Which of the following audit assertions is relevant to the audit procedure: “Comparing
original amount of inventory costs with the current market prices of actual sales”
a. Accuracy
b. Existence
c. Valuation and allocation
d. Completeness
48/Which of the following circumstances is most likely to cause an auditor to increase the
assessment of the risk of material misstatement of the financial statements due to fraud?
a. Monthly bank reconciliations usually include several in-transit items.
b. Property and equipment are usually sold at a loss before being fully depreciated.
 c. Unusual discrepancies exist between the entity's records and confirmation replies.
d. Clerical errors are listed on a computer generated exception report.
49/An auditor will most likely review an entity's periodic accounting for the numerical
sequence of shipping documents to ensure all documents are included to support
management's assertion about classes of transactions of
a. occurrence
b. accuracy
c. classification
d. completeness
50/An auditor discovers that a client's accounts receivable turnover is substantially lower for
the current year than for the prior year. This trend may indicate that
a. the client recently tightened its credit-granting policies.
b. an employee has been lapping receivables in both years.
c. employees have stolen inventory just before year-end.
d. fictitious credit sales have been recorded during the year.
51/The primary difference between operational auditing and financial auditing is that in
operational auditing:
a. The operational auditor can use analytical skills and tools that are not necessary in
financial auditing.
b. The operational auditor is not concerned with whether the audited activity is
generating information in compliance with financial accounting standards.
c. The operational auditor is seeking to help management use resources in the most
effective manner possible.
d. The operational auditor starts with the financial statements of an activity being
audited and works backward to the basic processes involved in producing them.
52/The auditor issued an unmodified opinion audit report in which the financial statements
are fairly presented. However, the auditor believes it is important to provide additional
information, since the auditor wants to draw the attention of the readers towards these vital
matters. This paragraph can be added in the audit report as a
a. audit opinion
b. other matter paragraph
c. basis for audit opinion
d. emphasis of matter paragraph
53/In a financial statement audit. the auditor obtains a reasonable level of assurance about
whether the financial statements are free of material misstatement in
order to express an opinion. In order to obtain reasonable assurance, the auditor must
a. obtain sufficient audit evidence
b. test controls around significant transaction cycles
c. have prior experience in the industry in which the audit client operates
d. examine all documents available that support the financial statements
54/In performing tests of controls, auditor would most likely use which of the following audit
procedures that leave no transaction trail is:
a. Interview.
b. re-performance.
c. observation.
d. inspection.
55/An independent auditor has the responsibility to design the audit to provide reasonable
assurance of detecting errors and fraud that might have a material effect on the financial
statements. Which of the following, if material is a fraud as defined in auditing standards?
a. Clerical mistakes in the accounting data underlying the financial statements
b. Mistakes in the application of accounting principles
c. Misinterpretation of facts that existed when the financial statements were prepared
d. Misappropriation of an asset or group of assets
56/Which of the following would not be considered an inherent limitation of the potential
effectiveness of an entity's internal control structure?
a. Collusion among employees
b. Management override
c. Incompatible duties
d. Mistakes in judgment
57/ Independent auditors of financial statements perform audits that reduce
a. Complexity of financial statements
b. Timeliness of financial statements
c. Business risk faced by investors
d. Information risk faced by investors
58/Which of the following statements reflects an auditor's responsibility for detecting fraud?
a. An auditor should design the audit to provide reasonable assurance of detecting
errors and fraud that are material to the financial statements.
b. An auditor should plan the audit to detect fraud caused by departures from GAAP.
c. An auditor is responsible for detecting employee errors and simple fraud, but not for
discovering fraudulent acts involving employee collusion or management override.
d. An auditor is not responsible for detecting fraud unless the application of auditing
standards would result in such detection.
59/Which of the following would not be considered an inherent limitation of the potential
effectiveness of an entity's internal control structure?
a. Collusion among employees
b. Mistakes in judgment
c. Management override
d. Incompatible duties
60/Which of the following best describes the reason why an independent auditor reports on
financial statements?
a. Poorly designed internal controls may be in existence
b. A misstatements of account balances may exist and is generally corrected as the
result of the independent auditor's work.
c. A misappropriation of assets may exist, and it is more likely to be detected by
independent auditors.
d. Different interests may exist between the company preparing the statements and the
persons using the statements.
61/