CPA Auditing and Attestation (AUD) : Integrated Audits & Attestation Engagements

Study concepts, example questions & explanations for CPA Auditing and Attestation (AUD)

varsity tutors app store varsity tutors android store

All CPA Auditing and Attestation (AUD) Resources

61 Practice Tests Question of the Day Flashcards Learn by Concept

Example Questions

Example Question #5 : Types Of Engagements Ssae

Of the following, which would not be considered an attest engagement subject to attestation standards?

Possible Answers:

An engagement to review pro forma financial statements

An engagement to review the financial statements of a nonpublic company

An engagement to examine management's assertion about a subject matter

An engagement to examine a financial forecast

Correct answer:

An engagement to review the financial statements of a nonpublic company

Explanation:

Attest engagements covered under SSAE exclude services performed in accordance with SSARS. Since the review of a nonpublic company's financial statements is conducted under SSARS, it is not subject to attestation standards.

Example Question #6 : Types Of Engagements Ssae

Attestation risk is comprised of all of the following risks except for:

Possible Answers:

Inherent risk

Detection risk

Control risk

Financial risk

Correct answer:

Financial risk

Explanation:

Inherent, control, and detection risks are all components of attestation risk whereas financial risk is not a risk-focused on.

All CPA Auditing and Attestation (AUD) Resources

61 Practice Tests Question of the Day Flashcards Learn by Concept
Learning Tools by Varsity Tutors