Lê Viết Nhật Quang – 31221025758

1.1

a)The answer is C

Assurance engagements include both reasonable assurance engagements (audits) and

limited assurance engagements (reviews)

b)The answer is D

The suitable criteria for an assurance engagement involve regulatory to the provisions of
applicable laws and internal regulations within the enterprise

1.2

a)The answer is B

A systematic process consults to a well-planned approach used to conduct an audit.

b)The answer is B

Auditors take sole responsibility for any errors made during the audit process for their
clients.

1.3

a)The answer is C

Information have three key characteristics: comparability, relevance, and reliability

b)The answer is B

The information indicated in the audited financial statements must be endorsed by the
manager to ensure its authenticity.

1.4

a)The answer is C

Managers may lack objectivity, which can lead to fraudulent activities for many
purposes.
b)The answer is D

The audit is an integral part of the assurance process, designed to increase the level of
confidence for users regarding the financial statements.

1.5

a)The answer is B

The auditing standards currently combine the concept of business risk approach, which
serves as the foundation for assessing risks in the audit process.

b)The answer is C

Audits have enhanced from the Statement of Financial Position approach to the
Transactions Cycle approach, providing a more comprehensive and focused approach to
conducting audits.

1.6

a)The answer is C

Australia expects auditors to conduct audits in compliance with the Australian Auditing
Standards.

b)The answer is A

The expectation gap appears from a misunderstanding of the audit function by non-
auditors.

1.7

a)The answer is B

b)The answer is D

The responsibility of the audit is to provide a perspective on the accuracy and fairness of
the accounting figures, while the management is responsible for preparing the financial
reports.

1.8

a) The answer is D
Auditing is a process in which auditors review and examine information to gather
sufficient and appropriate evidence for the detection and prevention of fraud.

b) The answer is A

Internal auditors have easier access to internal information compared to external auditors.