Devry ACCT 444 Week 1 Quiz Latest

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Devry ACCT 444 Week 1 Quiz Latest

Question 1

3 / 3 pts

(TCO 3) The organization that is responsible for providing oversight for auditors of public companies is called the _____

Auditing Standards Board.

American Institution of Public Accountants.

Accounting Oversight Board.

Public Company Accounting Oversight Board.

Question 2

3 / 3 pts

(TCO 1) Standards issued by the Public Company Accounting Oversight Board must be followed by CPAs who audit _____

both private and public companies.

public companies only.

private companies, public companies, and nonprofit entities.

private companies only.

Question 3

3 / 3 pts

(TCO 1) Which of the following actions should a CPA firm take to comply with the AICPA’s quality control standards?

Establish procedures that comply with the standards of the Sarbanes-Oxley Act.

Use attributes sampling techniques in testing internal controls.

Consider inherent risk and control risk before determining detection risk.

Establish policies to ensure that the audit work meets applicable professional standards.

Question 4

3 / 3 pts

(TCO 1) Any service that requires a CPA firm to issue a report about the reliability of an assertion that is made by another party is a(n) _____

accounting and bookkeeping service.

attestation service.

assurance service.

tax service.

Question 5

3 / 3 pts

(TCO 1) Jackson & Company, CPAs, plan to audit the financial statements of Perigee Technologies, an issuer as defined under the Sarbanes-Oxley Act of 2002. Which of the following situations would impair Jackson’s independence?

Provision of personal tax services to Johnson, the accounts payable manager of Perigee

Preparation of Perigee’s routine annual tax return, where Jackson’s fee will be calculated as a percentage of the tax refund obtained

Audit of Perigee’s internal control is performed contemporaneously with the annual financial statement audit

Discovering that Lowe, the chief financial officer of Perigee, started his accounting career 10 years earlier as a staff accountant for Jackson & Company and continues to maintain ties with current partners at the firm

 

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Devry ACCT 444 Week 1 Quiz Latest

Best Devry ACCT 444 Week 1 Quiz Latest
Devry ACCT 444 Week 1 Quiz Latest

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