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1. DEVRY ACCT 555 Week 3 Homework Assignment
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6-19 (Objective 6-1) The following questions
concern the reasons auditors do audits. Choose
the
best response.
Which of the following best describes the reason
why an independent auditor reports on financial
statements?
Because of the risk of material misstatement,
an audit should be planned and performed with
an
attitude of

2. The major reason an independent auditor
gathers
audit evidence is to
6-20 (Objective 6-3) The following questions deal
with errors and fraud. Choose the best response.
An independent auditor has the responsibility to
design the audit to provide reasonable assurance
of detecting errors and fraud that might have a
material effect on the financial statements. Which
of the following, if material, is a fraud as defined in
auditing standards?
What assurance does the auditor provide that
errors, fraud, and direct-effect illegal acts that are
material to the financial statements will be
detected?
6-27 (Objectives 6-6, 6-7) The following are
specific transaction-related audit objectives
applied to the audit of cash disbursement
transactions (a through f), management assertions
about classes of transactions (1 through 5), and
general transaction-related audit objectives (6
through 11).

3. Specific Transaction-Related Audit Objective
Recorded cash disbursement transactions are
for the amount of goods or services received
and are
correctly recorded.
7-25 (Objectives 7-3, 7-4) The following
questions concern persuasiveness of evidence.
Choose the
best response.
Which of the following types of documentary
evidence should the auditor consider to be the
most reliable?
Which of the following statements concerning
audit evidence is true?
Audit evidence can come in different forms
with different degrees of persuasiveness.
Which of the following is the least persuasive
type of evidence?
Which of the following presumptions is correct
about the reliability of audit evidence?
7-26 (Objectives 7-5, 7-6) The following
questions concern audit documentation.
Choose the best
response.
Which of the following isnota primary purpose
of

4. audit documentation?
During an audit engagement, pertinent data are
compiled and included in the audit files. The audit
files primarily are considered to be
Although the quantity, type, and content of audit
documentation will vary with the circumstances,
audit documentation generally will include the
The permanent file of an auditor's working papers
most likely would include copies of the
7-27 (Objective 7-4) The following are examples of
documentation typically obtained by auditors:
7- 28 (Objective 7-4) The following are examples
of
audit procedures:
8- 25 (Objectives 8-1, 8-3) The following questions
concern the planning of the engagement. Select the
best response.
Which of the following is an effective audit
planning procedure that helps prevent
misunderstandings and inefficient use of audit
personnel?

5. 8-28 (Objectives 8-2, 8-3, 8-4, 8-5) The following
are various activities an auditor does during audit
planning.
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6. 8-28 (Objectives 8-2, 8-3, 8-4, 8-5) The following
are various activities an auditor does during audit
planning.
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