Chapter 1 Financial and Integrated Audits 1. Attestation services performed by a

Question

Chapter 1 Financial and Integrated Audits 1. Attestation services performed by a CPA include a. Accounting Services and Tax Services b. Review and Integrated Audit. c. Financial Audit and Compilation Services d. Management Consultant and Risk Assessment. Which of the following best characterizes an Integrated Audit? a. This audit attests to whether GAAP and legal rules are followed by the preparer of the financial 2. b. This audit provides an opinion on the rnanagement's assessment of internal control over financial c. This audit analyzes organization structure, internal functions, workflow, and managerial d. This audit obtains and evaluates evidence in a "bottom-up" approach that combines a financial audit statements reporting performance and an audit of the internal control over financial reporting

Explanation / Answer

1.(b) Review and integrated audit

2.(d) This audit obtains and evaluates evidence in a "bottom-up" approach that combines a financial audit and an audit of the internal control over financial reporting.

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