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• Question 1 Which of the following is least likely to be considered a risk assessment procedure? Analytical procedures. Confirmation of ending accounts receivable. Inspection of documents. Observation of the performance of certain accounting procedures. Question 2 An auditor’s engagement letter most likely would include a statement regarding Management’s responsibility to provide certain written representations to the auditor. Conditions under which the auditor may modify the preliminary judgment about materiality. Internal control activities that would reduce the auditor’s assessment of control risk. Materiality matters that could modify the auditor’s preliminary assessment of fraud risk. Question 3 Which of the following describes a weakness in accounts payable procedures? The accounts payable clerk files invoices and supporting documentation after payment. The accounts payable clerk manually verifies arithmetic on the vendor invoice. The accounts payable system compare

Question 1 Which of the following is least likely to be considered a risk assessment procedure? Analytical procedures. Confirmation of ending accounts receivable. Inspection of documents. Observation of the performance of certain accounting procedures. Question 2 An auditor’s engagement letter most likely would include a statement regarding Management’s responsibility to provide certain written representations to the auditor. Conditions under which the auditor may modify the preliminary judgment about materiality. Internal control activities that would reduce the auditor’s assessment of control risk. Materiality matters that could modify the auditor’s preliminary assessment of fraud risk. Question 3 Which of the following describes a weakness in accounts payable procedures? The accounts payable clerk files invoices and supporting documentation after payment. The accounts payable clerk manually verifies arithmetic on the vendor invoice. The accounts payable system compare

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