Test Bank For - Ethics in Australia 11 th Edition By Alvin Aren...

Test Bank For Auditing, Assurance Services and Ethics in Australia 11 th Edition By Alvin Arens, Chris Kandunias, Peter Best, Greg Shailer, Randal Elder, Mark Beasley, Chris Hogan (All Chapters 1-19, 100% Original Verified, A+ Grade)

All Chapters Arranged Reverse:

19-1 This is The Original Test Bank For 11 th Edition, All other Files in The Market are Fake/Old/Wrong Edition. 1 / 4

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Arens, Auditing, Ethics & Assurance Services in Australia 11e

Chapter 19: Other auditing and assurance engagements

LO 19.1 Understand and describe the nature of assurance services, the different types of engagements and the levels of assurance they provide.True/False questions Question 1) An examination requires a reasonable (high) level of assurance, and results in a conclusion in a positive form assurance report.Aa) True Ab) False

Answer: True

ADifficulty: 2

ALearning Objective: LO 19.1 Understand and describe the nature of assurance services, the different types of engagements and the levels of assurance they provide.

AGraduate Attribute: Comprehension

A Question 2) In an agreed-upon procedures engagement, the practitioner provides direct assurance on assertions.Aa) True Ab) False

Answer: False

ADifficulty: 3

ALearning Objective: LO 19.1 Understand and describe the nature of assurance services, the different types of engagements and the levels of assurance they provide.

AGraduate Attribute: Application

A 3 / 4

Question 3) Assurance is the extent to which the practitioner can attest that an assertion is reliable.Ca) True Cb) False

Answer: True

CDifficulty: 1

CLearning Objective: LO 19.1 Understand and describe the nature of assurance services, the different types of engagements and the levels of assurance they provide.

CGraduate Attribute: Knowledge

C Multiple choice questions Question 4) What is an assurance engagement in the context of accounting?Ca) A process where an accountant verifies the accuracy of a company's financial statements Cb) A process where an accountant provides tax advice to a company Cc) A process where an assurance practitioner expresses a conclusion about the outcome of an evaluation or measurement of a subject matter against criteria Cd) A process where an accountant conducts a financial audit of a company's accounts

Answer: C

Feedback:

Ca) Incorrect. This describes a financial audit, which is a type of assurance engagement, but not the definition of an assurance engagement itself.Cb) Incorrect. Providing tax advice is a service provided by accountants, but it is not an assurance engagement.Cc) Correct. An assurance engagement is a process where an assurance practitioner expresses a conclusion about the outcome of an evaluation or measurement of a subject matter against criteria.Cd) Incorrect. This describes a financial audit, which is a type of assurance engagement, but not the definition of an assurance engagement itself.

CDifficulty: 1

CLearning Objective: LO 19.1 Understand and describe the nature of assurance services, the different types of engagements and the levels of assurance they provide.

CGraduate Attribute: Knowledge

C Question 5) What does a 'reasonable assurance' engagement require?Ca) A high level of assurance (but less than 100%) Cb) A moderate level of assurance

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