AAA Quality management and acceptance

اے سی سی اے · اسٹریٹجک پروفیشنل · 7 سوالات

نام: ____________________ تاریخ: ____________

Under quality management standards, the firm's system should address:
- A Only the audit fee
- B Only the audit report
- C Governance and leadership, ethics, acceptance, engagement performance, resources, information and monitoring
- D Only independence
An engagement quality review is usually required for:
- A All audits
- B Only tax work
- C No audits
- D Audits of listed entities and other higher risk engagements
Before accepting a new audit client, the firm should consider:
- A Only the fee
- B Only the sector
- C Only the size
- D Its integrity, independence, competence and resources, and the risk
An incoming auditor, with the client's permission, should:
- A Communicate with the outgoing auditor about any professional reasons for the change
- B Accept without enquiry
- C Contact the press
- D Contact the client's competitors
A contingent fee, where the fee depends on the result of the audit, creates:
- A An advocacy threat only
- B A familiarity threat only
- C A self-interest threat that is usually too significant to accept
- D No threat
Fees from one client that are a large proportion of the firm's total income create:
- A No threat
- B An advocacy threat
- C A self-interest or intimidation threat
- D A self-review threat
Fees that have been overdue for a long time can threaten independence because they:
- A Remove the engagement letter
- B Prove integrity
- C May be like a loan to the client
- D Reduce the audit risk

جوابی کلید

1. C, 2. D, 3. D, 4. A, 5. C, 6. C, 7. C

These are components in ISQM 1, which also stresses a risk based approach.
It is an objective evaluation of significant judgements before the report is issued.
Acceptance procedures help to reduce risk of association with a client who lacks integrity.
The incoming auditor needs to know whether there are reasons not to accept.
Contingent fees for audit work are generally prohibited.
The firm may be reluctant to lose the client, and so may be less objective.
Significant overdue fees can be a self-interest threat.