ASR4

01 – AUDITING,
ASSURANCE, AND OTHER
SERVICES - part 1
HECTOR C. PASCUAL, CPA, MBA, CTT
JANUARY 8, 2024
1. What assurance is provided by
the practitioner in a review
engagement?
a) Absolute
b) Reasonable
c) Limited
d) none Accounting with Kawpaytik
 2. When considering this, the practitioner
understands and assesses what factors
might influence the decision of the
intended users.
a) Materiality
b) Sufficiency
c) Professional skepticism
d) Appropriateness Accounting with Kawpaytik
 3. Results of the FS audit are
communicated to the users through
a) FS
b) Audit Report
c) Engagement letter
d) Auditing standards
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4. A financial statement audit aids in the
communication of economic data because the
audit:
a. Confirms the accuracy of financial
statements
b. Guarantees that the financial statements are
free from frauds
c. Assures that all errors has been corrected
d. Lends credibility to the financial statements
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5. Such account balances, such as those for
retirement benefits and leases, are results of
complex transactions. The susceptibility to
material misstatements in these type of
accounts is referred to as:
a. Audit risk
b. Detection risk
c. Inherent risk
d. Control risk Accounting with Kawpaytik
THANK YOU!