Reference no: EM132787000

Question 1: Which of the following is not an assurance engagement?

Select one:

Option 1: A review of historical financial information

Option 2: A consulting engagement to help an organisation meet its tax obligations

Option 3: A performance audit

Option 4: An audit of the effectiveness of internal control

Question 2: Reasonable assurance is provided by:

Select one:

Option 1: an audit engagement.

Option 2: a review engagement.

Option 3: an agreed-upon procedures engagement.

Option 4: an assurance engagement.

Question 3: Which of the following statements is not correct with regards the differences between internal and external audit?

Select one:

Option 1: External auditors do not include recommendations in their auditor's report while internal auditors do include such recommendations in their report.

Option 2: External auditors report primarily to shareholders while internal auditors report primarily to the board via the audit committee.

Option 3: External auditors' work is governed by international auditing standards while internal auditors' work is governed by the IIA's Professional Practices Framework.

Option 4: External auditors' area of focus is organisation wide while internal auditors' area of focus is finance and accounting.