Self-Guided Quiz

Self-Guided Quiz. Write a brief response, 30-90-words, for each question below.. Attached is the quiz, which is the paper that needs to be turn in with its answer. Please use the attached paper for it. APA format. The total word count would be around 900 words.Write a brief response, 30-90-words, for each question below.1.ÿÿÿÿÿÿ In your own words, define ?Auditing.?2.ÿÿÿÿÿÿ Discuss the importance of ?Evidence? in auditing.3.ÿÿÿÿÿÿ Define ?Independence? and ?Objectivity? as they relate to auditing.4.ÿÿÿÿÿÿ Audits typically consist of three phases: Planning; Fieldwork; Reporting. Describe activities that accompany each phase.ÿ5.ÿÿÿÿÿÿ Distinguish between Assurance and Attestation Services.6.ÿÿÿÿÿÿ Describe the following types of Audits:a.ÿÿÿÿÿÿ Operational Auditsb.ÿÿÿÿÿÿ Compliance Auditsc.ÿÿÿÿÿÿ Financial Statement Auditsd.ÿÿÿÿÿÿ Informational Technology Audits (may need to go outside the text to address this)7.ÿÿÿÿÿÿ Discuss the following types of Auditors:a.ÿÿÿÿÿÿ Auditors Working for CPA Firmsb.ÿÿÿÿÿÿ Governmental Auditors (e.g. GAO, IRS, health inspectors)c.ÿÿÿÿÿÿ Internal Auditors8.ÿÿÿÿÿÿ Identify the roles CPA firms play in society.9.ÿÿÿÿÿÿ Briefly explain Sarbanes-Oxley (SOX) and the role the Securities and Exchange Commission (SEC) plays in regulating audits.10.ÿÿ What is the role of the AICPA? The PCAOB? The Institute of Internal Auditors (IIA)?11.ÿÿ Summarize the 10 components of Generally Accepted Auditing Standards (GAAS)12.ÿÿ What are SAS, and for what are they used?13.ÿÿ True or False ? CPA firms are required to engage in quality control efforts of its audits? Why or Why not?14.ÿÿ What is a Peer Review and how and when are they performed?15.ÿÿ Why does government often have different auditing and accounting standards?

Self-Guided Quiz


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