ca_exm_au2_2008-06文档.pdf

CGA-CANADA ADVANCED EXTERNAL AUDITING [AU2] EXAMINATION June 2008 Marks Time: 4 Hours 30 Question 1 Select the best answer for each of the following unrelated items. Answer each of these items in your examination booklet by giving the number of your choice. For example, if the best answer for item (a) is (1), write (a)(1) in your examination booklet. If more than one answer is given for an item, that item will not be marked. Incorrect answers will be marked as zero. Marks will not be awarded for explanations. Note: 1 1 /2 marks each a. Which of the following is not a requirement of generally accepted auditing standards? 1) Understanding the audited entity and its environment 2) Supervising and reviewing the work of audit team members 3) Reducing audit risk to a minimal level 4) Identifying and assessing the risk of material misstatement due to fraud b. Which of the following steps or modifications to an audit program is the most appropriate if an auditor assesses the risk of material misstatement to be relatively high? 1) Performing relatively more audit work at interim dates 2) Placing greater reliance on the client’s internal controls 3) Withdrawing from the engagement 4) Assigning more experienced personnel to the engagement c. Generalized audit software, such as ACL, can be used in a variety of ways during an audit engagement. Which of the following au