Question

1.No reference is made in the auditor's report to other auditors who perform a portion of the audit when:

I. The other auditor audited an immaterial portion of the audit engagement.

II. The other auditor is well known or closely supervised by the principle auditor.

III. The principle auditor was unable to review the work of the other auditor.

	a.	I, II, and III
	b.	II and III
	c.	I and III
	d.	I and II

2.An auditor is responsible for forcing their client to adopt GAAP.

True

False

3.A PCAOB audit client had a number of CAMs disclosed in its annual audit report. An investor can conclude a scope limitation impacted performance of the audit.

True

False

4.An AICPA unqualified audit report containing no modifications will discuss the concept of going concern:

	a.	It will discuss the auditor's and management's consideration of going concern.
	b.	Going concern is forecast by the auditor for one year after the balance sheet date.
	c.	It will not reference going concern unless the issue is considered a problem.
	d.	It will provide assurance that going concern is not an issue.

5.An arrangement in which a CPA firm arranges for the critical review of its quality control practices by another CPA firm is referred to as a(n):

	a.	Quality control review audit
	b.	Assurance of quality
	c.	Assurance engagement
	d.	Peer review engagement