1. What is accounting

2. What is auditing

3. What is attestation

4. The roles SEC, PCAOB, AICPA and ASB

5. The differences between operational audit, compliance audit, financial statements audit

6. The difference between information and business risk

7. The AICPA principles and their subcategories

8. What are the SASs and their purpose

9. The difference between S-1, 8-K, 10-K, and 10-Q

10. If an auditor of a public company cannot find guidance issued by the PCAOB, where should (s)he look for guidance

11. Possible organizational structures for CPA firms

12. The difference between compilation, review, and audit services

13. The audit report parts

14. The purpose and characteristics of each paragraph on the audit report

15. When a standard unmodified report can be issued

16. What is going to happened if there is a scope limitation

17. What is the difference between standard unqualified report and combined report on financial statements and internal controls

18. When should an unqualified report with explanatory paragraph should be issued

19. When should an unqualified report with modified wording should be issued

20. What are the conditions that require departure form unqualified opinion

Answer rating: 100% (QA)

1 What is accounting Answer Accounting is the process of recording financial transactions pertaining to a business The accounting process includes summarizing analyzing and reporting these transaction... View the full answer