Q1 AUDIT ch. 1 Auditing and Assurance Services

Which of the following is not included in the American Accounting Association (AAA) definition of auditing?

Potential conflict of interest.

The underlying conditions that create demand by users for reliable information include

All of the choices are correct

Below are assertions made by management about the accounts receivable account. Which of the following statements is related to the PCAOB assertion – Presentation and Disclosure?

Accounts Receivable and the related allowance for doubtful accounts have been presented and are disclosed in accordance with GAAP

Professional skepticism dictates that when management makes a statement to the auditors, the auditors should

Corroborate the statement with other documentary evidence whenever possible.

The primary responsibility for an organization’s financial statements rests with

Management