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- Multiple ChoicePlease save your changes before editing any questions.
In Mental Model Shift, what is Personal Development?
Personal Development is FROM hesitant TO confident
Personal Development is FROM student TO service professional
Personal Development is FROM theory application TO application
Personal Development is FROM highly confident in an academic setting TO self-aware of gaps
- Multiple ChoicePlease save your changes before editing any questions.
What is CRA (combined risk assessment)?
Inherent risk
Detection risk
Inherent risk x Control risk
Audit risk x Control risk
- Multiple ChoicePlease save your changes before editing any questions.
A significant account is an account that could be determined by:
Risk
Size
A & B
None of above
- Multiple ChoicePlease save your changes before editing any questions.
When we access inherent risk to be lower and we do not intend to rely on controls, what is our combined risk assessment?
Moderate
Minimal
High
Low
- Multiple ChoicePlease save your changes before editing any questions.
In which phase of the audit is UTB performed?
Execution
Scope and Strategy
Conclusion
Planning
- Multiple ChoicePlease save your changes before editing any questions.
How many account assertions in Statement of Balance sheet? (1: Existence, 2: Completeness, 3: Rights & Obligations, 4: Valuation, 5: Presentation & Disclosure)
3
4
5
6
- Multiple ChoicePlease save your changes before editing any questions.
What are account assertions of Sales account?
Existence, Completeness, Measurement and Presentation & Disclosure
Existence, Completeness, Valuation and Presentation & Disclosure
Occurrence, Completeness, Valuation and Presentation & Disclosure
Occurrence, Completeness, Measurement and Presentation & Disclosure
- Multiple ChoicePlease save your changes before editing any questions.
What is the correct flow of the four phases of a SCOTs critical path?
Initiation -> Recording -> Processing -> Reporting
Recording-> Processing -> Reporting -> Initiation
Initiation -> Reporting -> Processing -> Recording
Initiation -> Processing -> Recording -> Reporting
- Multiple ChoicePlease save your changes before editing any questions.
Which is an example of IPE (Information Produced by the Entity)?
Bank Statement
Legal contract with a vendor
Notes from an interview with Senior
Account Receivables aging report.
- Multiple ChoicePlease save your changes before editing any questions.
How many main types of Control? (1: Manual control, 2: IT-dependent manual control, 3: Application control, 4: IT general control)
3
4
5
6
- Multiple ChoicePlease save your changes before editing any questions.
How many days after the date of audit report is archive due?
11
20
25
30
- Multiple ChoicePlease save your changes before editing any questions.
How did we confirm our understanding?
By walking through the SCOT
By testing the operating effectiveness of controls
By performing test of details
All of above
- Multiple ChoicePlease save your changes before editing any questions.
When the control is manual control and performed weekly, how many minimums of items to test of control?
2
5
1
25