阿伦斯审计学一种整合的方法课后习题答案ch02.docx

阿伦斯审计学一种整合的方法课后习题答案ch02.docx

《阿伦斯审计学一种整合的方法课后习题答案ch02.docx》由会员分享，可在线阅读，更多相关《阿伦斯审计学一种整合的方法课后习题答案ch02.docx（12页珍藏版）》请在冰点文库上搜索。

阿伦斯审计学一种整合的方法课后习题答案ch02

Chapter2

TheCPAProfession

ReviewQuestions

2-1ThefourmajorservicesthatCPAsprovideare:

1.AssuranceservicesAssuranceservicesareindependentprofessionalservicesthatimprovethequalityofinformationfordecisionmakers.Assuranceservicesincludeattestationservices,whichareanyservicesinwhichtheCPAfirmissuesareportthatexpressesaconclusionaboutthereliabilityofanassertionthatistheresponsibilityofanotherparty.Thefourcategoriesofattestationservicesareauditsofhistoricalfinancialstatements,attestationontheeffectivenessofinternalcontroloverfinancialreporting,reviewsofhistoricalfinancialstatements,andotherattestationservices.

2.AccountingandbookkeepingservicesAccountingservicesinvolvepreparingtheclient'sfinancialstatementsfromtheclient'srecords.Bookkeepingservicesincludethepreparationoftheclient'sjournalsandledgersaswellasfinancialstatements.

3.TaxservicesTaxservicesincludepreparationofcorporate,individual,andestatereturnsaswellastaxplanningassistance.

4.ManagementconsultingservicesTheseservicesrangefromsuggestionstoimprovetheclient'saccountingsystemtocomputerinstallations.

2-2ThemajorcharacteristicsofCPAfirmsthatpermitthemtofulfilltheirsocialfunctioncompetentlyandindependentlyare:

1.OrganizationalformACPAfirmexistsasaseparateentitytoavoidanemployer-employeerelationshipwithitsclients.TheCPAfirmemploysaprofessionalstaffofsufficientsizetopreventoneclientfromconstitutingasignificantportionoftotalincomeandtherebyendangeringthefirm'sindependence.

2.ConductACPAfirmemploysaprofessionalstaffofsufficientsizetoprovideabroadrangeofexpertise,continuingeducation,andpromotionofaprofessionalindependentattitudeandcompetence.

3.PeerreviewThispracticeevaluatestheperformanceofCPAfirmsinanattempttokeepcompetencehigh.

2-3ThePublicCompanyAccountingOversightBoardprovidesoversightforauditorsofpubliccompanies,includingestablishingauditingandqualitycontrolstandardsforpubliccompanyaudits,andperforminginspectionsofthequalitycontrolsatauditfirmsperformingthoseaudits.

2-4ThepurposeoftheSecuritiesandExchangeCommissionistoassistinprovidinginvestorswithreliableinformationuponwhichtomakeinvestmentdecisions.SincemostreasonablylargeCPAfirmshaveclientsthatmustwiththeSECeachyear（allcompaniesfilingregistrationstatementsunderthesecuritiesactsofl933andl934mustfinancialstatementsandotherreportswiththeSECatleastonceeachyear）,theprofessionishighlyinvolvedwiththeSECrequirements.

TheSEChasconsiderableinfluenceinsettinggenerallyacceptedaccountingprinciplesanddisclosurerequirementsforfinancialstatementsbecauseofitsauthorityforspecifyingreportingrequirementsconsiderednecessaryforfairdisclosuretoinvestors.Inaddition,theSEChaspowertoestablishrulesforanyCPAassociatedwithauditedfinancialstatementssubmittedtotheCommission.

2-5TheAICPAistheorganizationthatsetsprofessionalrequirementsforCPAs.TheAICPAalsoconductsresearchandpublishesmaterialsonmanydifferentsubjectsrelatedtoaccounting,auditing,managementadvisoryservices,andtaxes.TheorganizationalsopreparesandgradestheCPAexaminations,providescontinuingeducationtoitsmembers,anddevelopsspecialtydesignationstohelpmarketandassurethequalityofservicesinspecializedpracticeareas.

2-6StatementonStandardsforAttestationEngagementswasfirstissuedin1986anditspurposesweretoprovideaframeworkforattestengagementsandtodevelopstandardsforthoseengagements.In2001,theAuditingStandardsBoardissuedSSAE10inresponsetotheneedformoredetailedstandardsforspecifictypesofattestationservices.SSAE10supercedesthepreviouslyissuedstandardsanditsmainpurposeistoimprovetheusefulnessoftheattestationstandardsandprovidegreaterflexibilitytopractitionersinprovidingassuranceservices.

2-7ThePCAOBnowhasresponsibilityforestablishingauditingstandardsforpubliccompanies,whiletheAuditingStandardsBoard（ASB）oftheAICPAestablishesauditingstandardsforprivatecompanies.TheASBpreviouslyhadresponsibilityforestablishingauditingstandardsforbothpublicandprivatecompanies.ExistingauditingstandardswereadoptedbythePCAOBasinterimauditingstandardsforpubliccompanyaudits.

2-8Generallyacceptedauditingstandardsaretengeneralguidelinestoaidauditorsinfulfillingtheirprofessionalresponsibilities.Theseguidelinesincludethreegeneralstandardsconcernedwithcompetence,independence,anddueprofessionalcare;threestandardsoffieldworkincludingplanningandsupervision,studyandevaluationofinternalcontrol,andthegatheringofcompetentevidentialmatter;andfourstandardsofreportingwhichrequireastatementastopresentationinaccordancewithgenerallyacceptedaccountingprinciples,inconsistencyobservedinthecurrentperiodinrelationtotheprecedingperiod,adequatedisclosure,andtheexpressionofanopinionastothefairnessofthepresentationofthefinancialstatements.

2-8（continued）

Generallyacceptedaccountingprinciplesarespecificrulesforaccountingfortransactionsoccurringinabusinessenterprise.ExamplesmaybeanyoftheopinionsoftheFASB.

2-9Auditorscanobtainadequatetechnicaltrainingandproficiencythroughformaleducationinauditingandaccounting,adequatepracticalexperience,andcontinuingprofessionaleducation.AuditorscandemonstratetheirproficiencybybecominglicensedtopracticeasCPAs,whichrequiressuccessfulcompletionoftheUniformCPAExamination.Thespecificrequirementsforlicensurevaryfromstatetostate.

2-10Forthemostpart,generallyacceptedauditingstandardsaregeneralratherthanspecific.Manypractitionersalongwithcriticsoftheprofessionbelievethestandardsshouldprovidemoreclearlydefinedguidelinesasanaidindeterminingtheextentofevidencetobeaccumulated.ThiswouldeliminatesomeofthedifficultauditdecisionsandprovideasourceofdefenseiftheCPAischargedwithconductinganinadequateaudit.Ontheotherhand,highlyspecificrequirementscouldturnauditingintomechanicalevidencegathering,voidofprofessionaljudgment.Fromthepointofviewofboththeprofessionandtheusersofauditingservices,thereisprobablyagreaterharmfromdefiningauthoritativeguidelinestoospecificallythantoobroadly.

2-11InternationalStandardsonAuditing（ISAs）areissuedbytheInternationalAuditingPracticesCommittee（IAPC）oftheInternationalFederationofAccountants（IFAC）.ISAsaredesignedtoimprovetheuniformityofauditingpracticesandrelatedservicesthroughouttheworldbyissuingpronouncementsonavarietyofauditandattestfunctionsandpromotingtheiracceptanceworldwide.ACPAwhoconductsanauditinaccordancewithGAASmaynotcomplywithISAsbecausetheremaybeadditionalISArequirementsthatextendbeyondGAASrequirements.

2-12QualitycontrolsaretheproceduresusedbyaCPAfirmthathelpitmeetitsprofessionalresponsibilitiestoclients.QualitycontrolsarethereforeestablishedfortheentireCPAfirmasopposedtoindividualengagements.

2-13Theelementofqualitycontrolispersonnelmanagement.ThepurposeoftherequirementistohelpassureCPAfirmsthatallnewpersonnelshouldbequalifiedtoperformtheirworkcompetently.ACPAfirmmusthavecompetentemployeesconductingtheauditsifqualityauditsaretooccur.

2-14Apeerreviewisareview,byCPAs,ofaCPAfirm'scompliancewithitsqualitycontrolsystem.Amandatorypeerreviewmeansthatsuchareviewisrequiredperiodically.AICPAmemberfirmsarerequiredtohaveapeerrevieweverythreeyears.RegisteredfirmswiththePCAOBaresubjecttoqualityinspections.ThesearedifferentthanpeerreviewsbecausetheyareperformedbyindependentinspectionteamsratherthananotherCPAfirm.

2-14（continued）

Peerreviewscanbebeneficialtotheprofessionandtoindividualfirms.Byhelpingfirmsmeetqualitycontrolstandards,theprofessiongainsifreviewsresultinpractitionersdoinghigherqualityaudits.Afirmhavingapeerreviewcanalsogainifitimprovesthefirm'spracticesandtherebyenhancesitsreputationandeffectiveness,andreducesthelikelihoodoflawsuits.Ofcoursepeerreviewsarecostly.Thereisalwaysatradeoffbetweencostandbenefits.ACPAfirmalsogivesupsomeindependenceofactivitieswhenitisreviewedbyanotherCPAfirm.

2-15ThetwodivisionsofpracticethataCPAfirmmaybelongtoaretheSECPracticeSection（renamedtheCenterforPublicCompanyAuditFirms）andthePrivateCompaniesPracticeSection.Afirmmaybelongtoonesection,bothsections,orneither.Manyoftheself-regulatoryactivitiesoftheSECPShavebeentakenoverbythePCAOB.

ProponentsofthisdivisionbelievethatthiswillimprovethequalityofpracticebyCPAfirmsandthatitwillimproveself-regulation.CriticsstatethatitestablishestwoclassesofCPAsandimpliesalowerperformancequalityforfirmsthatarenotmembersoftheSECPracticeSection.

MultipleChoiceQuestionsFromCPAExaminations

2-16a.

（1）b.

（2）c.（3）d.（3）

2-17a.

（2）b.

（2）c.（3）

DiscussionQuestionsAndProblems

2-18

a.ThecommentssummarizethebeliefsofmanypractitionersabouttheSarbanes–OxleyActandthePCAOB.TheargumentsagainsttheActcanbesummarizedasfourarguments:

1.CostsofcomplyingwiththeActareexcessivelyhigh,especiallytherequirementtoreportoninternalcontroloverfinancialreporting,andwilldiscouragecompaniesfro