|Posted: 25 Jan 2011 at 21:04 | IP Logged
A CPA wishes to determine how various publicly-held companies have complied with the disclosure requirements in a statement of financial accounting standars. Which of the following information sources would the CPA most likely consult this information?
a. AICPA Accounting Trends & Techniques
b. FASB technical Bulletins
c. AICPA Audit and Accounting Manual
d. FASB Statements of financial accounting concepts
An auditor is requried to obtain an understanding of the entity's business, including business cycles and reasons for business fluctuations. What is the audit purpose most directly served by obtaining this understanding?
a. To enable te auditor to accurately identify significant deficiencies.
b. To assist the auditor to accurately interpret information obtained during an audit
c. To allow the auditor to more accurately perform tests of controls
d. To decide whether it will be neccessary to perform analytical procedures
can anyone answer this questions and explained why??