Assurance – NBC Institute

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

Question

Which of the following is NOT an objective of profit forecast investigation on which an opinion can be given?
A. Whether or not the profit forecast complies with the Generally Accepted Accounting Principles
B. As to whether the profit forecast has been prepared on the basis of the existing organization’s accounting policies
C. Whether or not the profit forecast has been prepared on the basis of management assumptions and judgment
D. On the reasonableness of the management assumptions and judgment of the profit forecast
E. As to whether the profit forecast agrees with the underlying records

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Compliance, GAAP, Profit Forecast, Regulatory Standards
Level: Level 3

Topic: Assurance Engagements
Series: NOV 2012

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

Question

A contract by which the representative of a party is to receive a specific sum of money on the occurrence of an event that is bound to happen is a contract of:

A. Insurance
B. Novation
C. Compensation
D. Assurance
E. Quantum meruit

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Contract, Event Bound to Happen, Legal Agreements
Level: Level 1

Topic: Law of Contract
Series: MAY 2021

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

Question

Accounting firms offer a wide range of professional services to their clients, including audit, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards and local regulations. The type of service delivered depends both on the statutory requirements and what will provide the most value to the client and users of the financial information.

Required:
Explain the difference between audit and assurance engagements. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Audit, Engagements, Financial Statements, Professional Services
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: NOV 2019

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

Question

You are the audit manager of an audit firm where the purpose of an external audit and its role are not well understood. You have been asked to write some material for inclusion in your firm’s training materials dealing with these issues in the audit of large companies.
Required: In your paper, explain the purpose of an external audit and its role in the audit of large companies, for inclusion in your firm’s training materials.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, External audit, Financial Statements, Large Companies
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: MAY 2017

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

Question

Audit is the examination or inspection of various books of accounts by an auditor to certify that the accounts have been prepared according to the principles of accounting and to determine whether the Financial Statements prepared reflect a true and fair view of the state of affairs of a business.

Required:
i) State the Primary objective of an audit.
ii) State the Secondary objectives of an audit. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Audit, Financial Statements, Objectives, Secondary Objectives
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: APR 2022

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Compliance, GAAP, Profit Forecast, Regulatory Standards
Level: Level 3

Topic: Assurance Engagements
Series: NOV 2012

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

Question

A contract by which the representative of a party is to receive a specific sum of money on the occurrence of an event that is bound to happen is a contract of:

A. Insurance
B. Novation
C. Compensation
D. Assurance
E. Quantum meruit

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Contract, Event Bound to Happen, Legal Agreements
Level: Level 1

Topic: Law of Contract
Series: MAY 2021

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

Question

Required:
Explain the difference between audit and assurance engagements. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Audit, Engagements, Financial Statements, Professional Services
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: NOV 2019

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, External audit, Financial Statements, Large Companies
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: MAY 2017

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

Question

Required:
i) State the Primary objective of an audit.
ii) State the Secondary objectives of an audit. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assurance, Audit, Financial Statements, Objectives, Secondary Objectives
Level: Level 2

Topic: Introduction to Audit and Assurance Engagements
Series: APR 2022

Question Tag: Assurance

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Assurance

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

You're reporting an error for "AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements"

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

You're reporting an error for "BL – May 2021 – L1 – SA – Q15 – Law of Contract"

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

You're reporting an error for "AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

You're reporting an error for "AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

You're reporting an error for "AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements

Identifying non-objectives in profit forecast investigations by auditors.

You're reporting an error for "AAA – Nov 2012 – L3 – SA – Q2 – Assurance Engagements"

BL – May 2021 – L1 – SA – Q15 – Law of Contract

Identifying the type of contract for a sum of money to be received after an inevitable event.

You're reporting an error for "BL – May 2021 – L1 – SA – Q15 – Law of Contract"

AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explaining the difference between audit and assurance engagements, with a focus on statutory requirements and value to clients.

You're reporting an error for "AA – Nov 2019 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements

Explanation of the purpose and role of external audit in large companies.

You're reporting an error for "AA – May 2017 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements

State the primary and secondary objectives of an audit.

You're reporting an error for "AA – April 2022 – L2 – Q1a – Introduction to Audit and Assurance Engagements"

Our offerings

Contact Info

Customer

Get In Touch

admin