Reference no: EM132829679

Problem 1: Which of the following best represents the relationships among auditing, attestation, and assurance services?

a. Attestation is a type of auditing service.
b. Assurance is a type of attestation service.
c. Assurance is a type of auditing service.
d. Auditing is a type of attestation service.
e. None of the above.

Problem 2: For what primary reason is the auditor required to obtain an understanding of the audit entity and its environment, including internal control?

a. To establish trust with senior management and those charged with governance.
b. To plan the audit and determine the nature, timing, and extent of audit procedures to be performed.
c. To identify opportunities to recommend an audit firm's consulting services.
d. To set audit risk at an appropriately high level.
e. To determine the audit fee to be included in the engagement letter.