Reference no: EM132622835

Problem 1: The working papers are

a) Property of the auditor although prepared by the client

b) Used primarily as a basis for the partners to reward the work of managers, seniors and staff

c) The primary means of documenting that an adequate audit was conducted in accordance with GAAS

d) The property of the client

e) Only required in a limited number of audit engagements

Problem 2: Which of the following is not one of the criteria considered when determining the reliability of audit evidence?

a) Sufficiency of the audit evidence

b) Independence of the information provider

c) All of these options are criteria for determining reliability

d) Auditor's direct knowledge

e) Objectivity of the audit evidence

Problem 3: There will be heavy emphasis on tests of controls when

a) The auditor is doing a "fraud audit"

b) There are no internal controls

c) Controls are effective and assessed control risk is low

d) The audit is a new engagement

e) Controls are ineffective and assessed control risk is high