Latihan Chapter 11 16 Plus Jawaban

8/12/2019 Latihan Chapter 11 16 Plus Jawaban

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LATIHAN SOAL BAB 11

1. Which of the following best describes the process for assessing control risk?

A.1! "erfor# tests of controls$ and %! e&al'ate the e&idence and assess controlrisk(

B. 1! Identif) necessar) controls$ %! perfor# tests of controls$ and *! e&al'atethe e&idence and assess control risk(

C.1! Identif) potential #isstate#ents that co'ld occ'r$ %! identif) necessar)controls$ *! perfor# tests of controls$ and +! e&al'ate the e&idence andassess control risk(

D.1! ,onsider the knowledge ac-'ired fro# obtaining the 'nderstanding ofinternal control$ %! identif) potential #isstate#ents that co'ld occ'r$ *!identif) necessar) controls$ +! perfor# tests of controls$ and .! e&al'ate thee&idence and assess control risk(

2. Which of the following represents the necessar) control and the test of control thatwo'ld control the risk of d'plicate pa)#ent of an acco'nts pa)able &o'cher?

A.Necessar) control/ The co#p'ter #atches check infor#ation with thes'pporting &o'cher0 Test of control/ S'b#it test data to see that the co#p'terappropriatel) #atches check infor#ation with &o'cher infor#ation(

B.Necessar) control/ The co#p'ter electronicall) cancels the &o'cher ands'pporting infor#ation when the check is iss'ed0 Test of control/ S'b#it testdata to see that the co#p'ter reects d'plicate pa)#ents(

C.Necessar) control/ The co#p'ter #atches &o'cher date with the check date0Test of control/ S'b#it test data to see that the co#p'ter appropriatel)

#atches dates on the &o'cher and on the check(

D.Necessar) control/ There is separate d'ties for appro&ing &o'cher and signingchecks0 Test of control/ Obser&e segregation of d'ties

3. ,ontrols o&er the co#pleteness assertion generall)

A.start b) capt'ring infor#ation abo't a transaction when it is initiated and thenfollow the transaction forward thro'gh receipt or deli&er and recording(

B.co#pare infor#ation associated with the recording of transactions withinfor#ation associated with the passage of title$ which is nor#all) capt'red

d'ring the deli&er) or receipt of goods and ser&ices(C.

co#pare infor#ation associated with the recording of transactions withinfor#ation obtained both with the deli&er) or receipt of goods and ser&icesand infor#ation associated with the initiation of the transaction(

D.co#pare infor#ation associated with the recording of transactions withinfor#ation created when the transaction is initiated(

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4. When obtaining an 'nderstanding of internal controls the a'ditor identifies i#portantprogra##ed application controls o&er the occ'rrence of sales$ howe&er$ the a'ditoralso has serio's concerns abo't the ade-'ac) of the control en&iron#ent d'e to aweak tone at the top abo't control conscio'sness( Which of the following bestdescribes how the a'ditor sho'ld respond to this sit'ation when planning tests of

occ'rrence of sales?

A.The a'ditor co'ld assess control risk as low for an assertion after perfor#ingco#p'ter assisted a'dit techni-'es on controls rele&ant to that assertion(

B.The a'ditor co'ld assess control risk as low for an assertion after perfor#ingco#p'ter assisted a'dit techni-'es on controls rele&ant to that assertion andassessing the ade-'ac) of segregation of d'ties(

C.The a'ditor will probabl) assess control risk at the #a2i#'# irrespecti&e ofthe -'alit) of the progra##ed application controls(

D.The a'ditor co'ld assess control risk as low for an assertion if significantperfor#ance re&iews are placed in operation(

5. After obtaining an 'nderstanding of internal control and assessing control risk thea'ditors decided not to perfor# additional tests of controls( The a'ditor #ost likel)concl'ded that the

A.additional e&idence to s'pport a f'rther red'ction in control risk was not costbeneficial to obtain(

B. assessed le&el of inherent risk e2ceeded the assessed le&el of control risk(

C. internal controls were properl) designed and 'stifiabl) #a) be relied 'pon(

D.e&idence obtained thro'gh tests of controls wo'ld not s'pport an increased

le&el control risk(

6. When an a'ditor increases the planned assessed le&el of control risk beca'se certaincontrol proced'res were deter#ined to be ineffecti&e$ the a'ditor wo'ld #ost likel)increase the

A. e2tent of tests of controls(

B.planned le&el of detection risk(

C.planned le&el of s'bstanti&e tests(

D. le&el of inherent risk(

7. Which of the following is not a step in an a'ditor3s decision to asses control risk atbelow the #a2i#'#?

A.4&al'ate the effecti&eness of the internal control proced'res with tests of

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controls(

B.Obtain an 'nderstanding of the entit)3s acco'nting s)ste# and controlen&iron#ent(

C."erfor# tests of details of transactions to detect #aterial #isstate#ents in thefinancial state#ents(

D.,onsider whether control proced'res can ha&e a per&asi&e effect on financialstate#ent assertions(

8. The 'lti#ate p'rpose of assessing control risk is to contrib'te to the a'ditor3se&al'ation of the risk that

A.specified controls re-'iring segregation of d'ties #a) be circ'#&ented b)coll'sion(

B. entit) policies #a) be o&erridden b) senior #anage#ent(

C. tests of controls #a) fail to identif) proced'res rele&ant to assertions(

D. #aterial #isstate#ents #a) e2ist in the financial state#ent assertions(

9. A proced're that wo'ld #ost likel) be 'sed b) an a'ditor in perfor#ing tests ofcontrol proced'res that in&ol&e segregation of f'nctions and that lea&e no transactiontrail is

A. inspection(

B. obser&ation(

C. reperfor#ance(

D. reconciliation(

10. If an a'ditor decides to assess control risk as low based on co#p'ter applicationcontrol proced'res$ which of the following wo'ld not be part of the a'ditor3s strateg)for testing controls?

A. testing the effecti&eness of co#p'ter general control proced'res

B. testing the effecti&eness of #anage#ent controls o&er co#p'ter o'tp't

C. testing the effecti&eness of #an'al follow5'p proced'res

D. testing the effecti&eness of co#p'ter application control proced'res

11. When control risk is assessed at the #a2i#'# le&el for all financial state#ent

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assertions$ an a'ditor sho'ld doc'#ent the a'ditor3s

A.concl'sion that control risk is at the #a2i#'# le&el 6 no/ basis forconcl'ding that control risk is at the #a2i#'# le&el 6 no(

B.concl'sion that control risk is at the #a2i#'# le&el 6 no/ basis forconcl'ding that control risk is at the #a2i#'# le&el 6 )es(

C.concl'sion that control risk is at the #a2i#'# le&el 6 )es/ basis forconcl'ding that control risk is at the #a2i#'# le&el 6 no(

D.concl'sion that control risk is at the #a2i#'# le&el 6 )es/ basis forconcl'ding that control risk is at the #a2i#'# le&el 6 )es(

12. If an a'ditor s'b#its test data on an on5line$ real5ti#e basis to test co#p'terapplication controls$ this is #ost likel) done as part of which of the followingapproaches to testing controls?

A.parallel si#'lation

B. test data

C. integrated test facilit)

D. s)ste#s control a'dit re&iew file

13. If the a'ditor assessed control risk as low for an assertion based on tests perfor#edd'ring the first 17 #onths of the )ear$ which of the following wo'ld be L4ASTLI84L9 to be perfor#ed to 'pdate the a'ditor3s concl'sion abo't control risk?

A. The a'ditor wo'ld consider the significance of the assertion in&ol&ed(

B.The a'ditor wo'ld consider the res'lts of the tests of controls 'sed to #akethat e&al'ation(

C.The a'ditor wo'ld consider the e&idential #atter abo't design or operationthat #a) res'lt fro# s'bstanti&e test perfor#ed in the re#aining period(

D.The a'ditor wo'ld consider the changes in the ind'str) and the entit)3soperating en&iron#ent(

14. Which of the following factors wo'ld generall) NOT infl'ence the a'ditor3s decision

abo't sa#ple si:e when #aking decisions abo't the e2tent of tests of controls?A. the nat're of the control

B. the operating effecti&eness of the control en&iron#ent

C. the fre-'enc) of operation of the control

D. the i#portance of the control

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deficiencies in internal controls?

A.reporting in the a'ditor3s report 6 none/ reporting to the a'dit co##ittee 6onl) #aterial weaknesses

B.reporting in the a'ditor3s report 6 none/ reporting to the a'dit co##ittee 6both significant deficiencies and onl) weaknesses

C.reporting in the a'ditor3s report 6 onl) #aterial weaknesses/ reporting to thea'dit co##ittee 6 both significant deficiencies and onl) weaknesses

D.reporting in the a'ditor3s report 6 onl) #aterial weaknesses/ reporting to thea'dit co##ittee 6 onl) #aterial weaknesses

1. Which of the following best describes the steps in&ol&ed in assessing the risk of#aterial #isstate#ents?

A. 1! 4&al'ate the t)pe of potential #isstate#ents that can occ'r$ %! e&al'atethe #agnit'de of potential #isstate#ents$ *! e&al'ate the likelihood ofpotential #isstate#ents(

B. 1! Assess inherent risk$ %! assess control risk$ *! assess detection risk(

C.1! 4&al'ate the #agnit'de of potential #isstate#ents$ %! e&al'ate thelikelihood of potential #isstate#ents(

D.1! Assess inherent risk$ %! assess control risk$ *! assess anal)ticalproced'res risk$ +! assess test of details risk(

2. A constr'ction ind'str) client 'ses the percentage of co#pletion #ethod to recogni:ere&en'e and e2pense on c'rrent proects( Which of the following best describes thet)pes of potential #isstate#ents that the a'ditor sho'ld be concerned abo't?

A.It is possible that in&entor) is o&erstated( The a'ditor sho'ld be alert toproble#s with the e2istence and occ'rrence or &al'ation and allocation ofin&entor)(

B.Significant re&en'es$ e2pense$ assets and liabilities arise fro# this acco'ntingesti#ate( The a'ditor sho'ld be alert for proble#s with the &al'ation andallocation assertion(

C.A weak control en&iron#ent #a) ha&e a per&asi&e i#pact on #an)assertions(

D. Weak ind'str) trends #ight i#pact the co#pleteness of re&en'es(

3. Anal)tical proced'res for a retailer show significant increases in both profit #arginsand in&entor) t'rn da)s( Which of the following best describes the t)pes of potential#isstate#ents that the a'ditor sho'ld be concerned abo't?

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A. The a'ditor sho'ld be concerned abo't re&en'e recognition proble#s(

B. The a'ditor sho'ld be concerned abo't the co#pleteness of in&entor)(

C. The a'ditor sho'ld be concerned abo't the e2istence of in&entor)(

D. The a'ditor sho'ld be concerned abo't the co#pleteness of re&en'es(

4. If the a'ditor plans to following a pri#aril) s'bstanti&e approach detection risk isnor#all) assessed as0

A. #a2i#'# or #oderate

B. high or #oderate

C. #oderate or low

D. low or &er) low

5. If the a'ditor plans to follow a lower assessed le&el of control risk approach thea'ditor will 's'all) plan0

A. less e2tensi&e s'bstanti&e tests at )ear5end(

B. #ore e2tensi&e s'bstanti&e tests at )ear5end(

C. less e2tensi&e s'bstanti&e tests at an interi# date(

D. #ore e2tensi&e s'bstanti&e tests at an interi# date(

6. Which of the following best contrasts tests of controls and s'bstanti&e tests?

A.Tests of controls are 's'all) perfor#ed at interi# and s'bstanti&e tests are's'all) perfor#ed at )ear5end(

B.Both tests of controls and s'bstanti&e tests are pri#aril) designed to pro&idee&idence abo't control risk(

C.Tests of control are designed to draw a concl'sion abo't fre-'enc) ofde&iations fro# proscribed controls and s'bstanti&e tests are designed to drawconcl'sions abo't #onetar) errors(

D. Both tests of controls and s'bstanti&e tests are alwa)s re-'ired b) >AAS(

7. >enerali:ed a'dit software is nor#all) NOT designed to perfor# which of thefollowing?

A. econcile detail a'dit data with the general ledger(

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B. "erfor# tests on an entire pop'lation(

C. Select and print a'dit sa#ples(

D. Assess detection risk(

8. Which of the following wo'ld NOT describe the nat're of a s'bstanti&e test?

A. initial proced'res

B. tests of details of acco'nting esti#ates

C. tests of details of disclos'res

D. risk assess#ent proced'res

9. If an a'ditor sends a confir#ation of a c'sto#ers balance in acco'nts recei&ables$ thisbest described as an!0

A. initial proced're(

B. anal)tical proced're(

C. test of details of balances(

D. test of details of acco'nting esti#ates(

10. Which of the following factors wo'ld tend to increase sa#ple si:es?

A. The a'dit pop'lation is ho#ogeneo's(

B. The a'ditor is willing to accept a large a#o'nt of tolerable #isstate#ent(

C. The a'dit pop'lation is a large a'dit pop'lation(

D. The a'ditor is willing to accept a high le&el of detection risk(

11. Which of the following wo'ld nor#all) NOT be perfor#ed when a'diting anacco'nting esti#ate?

A. Send a confir#ation or obtain e&idence fro# an o'tside third part)(

B."erfor# proced'res to re&iew and test #anage#ent3s process in #aking theesti#ate(

C. "repare an independent e2pectation of the esti#ate(


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D.e&iew s'bse-'ent transactions and e&ents occ'rring prior to co#pleting thea'dit that pertain to the esti#ate(

12. As the acceptable le&el of detection risk decreases$ the ass'rance directl) pro&idedfro#

A. s'bstanti&e tests sho'ld increase(

B. s'bstanti&e tests sho'ld decrease(

C. tests of controls sho'ld increase(

D. tests of controls sho'ld decrease(

13. As the acceptable le&el of detection risk decreases$ an a'ditor #a) change the

A.ti#ing of s'bstanti&e tests b) perfor#ing the# at an interi# date rather thanat )ear5end(

B.nat're of s'bstanti&e tests fro# a less effecti&e to a #ore effecti&eproced're(

C.ti#ing of tests of controls b) perfor#ing the# at se&eral dates rather than atone ti#e(

D. assessed le&el on inherent risk to a higher a#o'nt(

14. Which of the following conditions does NOT need to e2ist in order for the a'ditor toconsider #o&ing the ti#ing of a s'bstanti&e test to an interi# date?

A. Internal control d'ring the interi# period and )ear5end is effecti&e(

B.There are no conditions or circ'#stances that #ight predispose #anage#entto #isstate the financial state#ents in the re#aining period(

C. Inherent risk wo'ld be assessed as low(

D.The )ear5end balances of the acco'nts e2a#ined at the interi# date arereasonabl) predictable as to a#o'nt$ relati&e significance$ and co#position(

15. If detection risk is assessed as low the a'ditor will nor#all) consider which of thefollowing?

A."erfor# #ore effecti&e a'dit proced'res$ with larger sa#ples si:es$ at )ear5end(

B."erfor# #ore effecti&e a'dit proced'res$ with s#aller sa#ples si:es$ at )ear5end(

C."erfor# less effecti&e a'dit proced'res$ with s#aller sa#ples si:es$ at an


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interi# date(

D."erfor# #ore effecti&e a'dit proced'res$ with s#aller sa#ples si:es$ at aninteri# date(

16. An a'ditor3s decision either to appl) anal)tical proced'res as s'bstanti&e tests or toperfor# tests of transaction and acco'nt balances 's'all) is deter#ined b) the

A. a&ailabilit) of data aggregated at a high le&el(

B. relati&e effecti&eness of the tests(

C. ti#ing of tests perfor#ed at the balance sheet date(

D. a'ditor3s fa#iliarit) with ind'str) trends(

17. A'ditors tr) to identif) predictable relationships when 'sing anal)tical proced'res(elationships in&ol&ing transactions for# which of the following acco'nts #ostlikel) wo'ld )ield the highest le&el of e&idence 'sing anal)tical proced'res?

A. total re&en'es and n'#ber of sales for a retail grocer

B.total re&en'es$ the n'#ber of roo#s$ occ'panc) rates$ and a&erage roo# ratefor a hotel

C. total re&en'es and the n'#ber of s'bscribers for a #aga:ine

D.total interest e2pense and the a&erage principal balance o'tstanding for aconstr'ction co#pan) b'ilding new ho#es

18. After identif)ing related part) transactions$ an a'ditor #ost likel) wo'ld

A.s'bstantiate that the transactions were cons'##ated on ter#s e-'i&alent tothose pre&ailing in ar#s5length transactions(

B.disc'ss the i#plications of the transactions with third parties$ s'ch as theentit)3s attorne) and bankers(

C.deter#ine whether the transactions were appro&ed b) the board of directorsor other appropriate officials(

D.ascertain whether the transactions wo'ld ha&e occ'rred if the parties had notbeen related(

19. The p'rpose of an a'dit progra# for s'bstanti&e tests is to0

A.describe the nat're of proced'res to be perfor#ed 5 )es/ describe the ti#ingof s'bstanti&e 6 )es/ ens're that a'dit e&idence is obtained for all a'ditobecti&es 6 )es(

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B.describe the nat're of proced'res to be perfor#ed 5 )es/ describe the ti#ingof s'bstanti&e 6 )es/ ens're that a'dit e&idence is obtained for all a'ditobecti&es 6 not necessaril)(

C.describe the nat're of proced'res to be perfor#ed 5 )es/ describe the ti#ingof s'bstanti&e 6 not necessaril)/ ens're that a'dit e&idence is obtained for all

a'dit obecti&es 6 )es(

D.describe the nat're of proced'res to be perfor#ed 5 not necessaril)/ describethe ti#ing of s'bstanti&e 6 not necessaril)/ ens're that a'dit e&idence isobtained for all a'dit obecti&es 6 )es(

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Latihan ,hapter 1*

1. In the a'dit of


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in a sa#ple(

6. To deter#ine the sa#ple si:e for a test of controls$ an a'ditor sho'ld consider nat'reof the control$ the fre-'enc) of operation of the control$ the i#portance of the control$the tolerable de&iation rate$ the allowable risk of assessing control risk too low$ the

pop'lation si:e and theA. e2pected de&iation rate(

B. 'pper precision li#it(

C. risk of incorrect acceptance(

D. risk of incorrect reection(

7. If an a'ditor plans to assess control risk as low$ which of the following best describesa reasonable range for the a'ditor3s tolerable de&iation rate?

A. 1D 5 .D

B. %D 5 @D

C. =D 5 1%D

D. 11D 5 %7D

8. Which of the following factors is associated with s#aller sa#ple si:es for tests ofcontrols?

A. The control is a #an'al control(

B. The control operates fre-'entl) e(g($ on e&er) transaction!

C.The a'ditor deter#ines that he or she can accept a s#all a#o'nt of sa#plingrisk 6 the risk of assessing control risk too low(

D.The a'ditor deter#ines that he or she can accept a larger tolerable de&iationrate(

9. Which of the following state#ents is correct concerning a'dit sa#pling for tests ofcontrols?

A.The pop'lation si:e has little or no effect on deter#ining sa#ple si:e e2ceptfor s#all pop'lations pop'lation si:es less than .$777!(

B.

The e2pected pop'lation de&iation rate has little or no effect on deter#ining

sa#ple si:e e2cept for s#all pop'lations pop'lation si:es less than .$777!(

C.


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the prior )ear3s tests of controls and the o&erall control en&iron#ent( If other factorsre#ain constant$ co#pared to last )ear this will ca'se an increase in

A. tolerable rate(

B. allowance for sa#pling risk(

C. risk of assessing control risk too low(

D. sa#ple si:e(

11. An a'ditor plans to e2a#ine a sa#ple of %7 checks for co'ntersignat'res asprescribed b) the client3s internal control proced'res( One of the checks in the chosensa#ple of %7 cannot be fo'nd( The a'ditor sho'ld consider the reasons for thisli#itation and

A. e&al'ate the res'lts as if the sa#ple si:e had been 1(

B.treat the #issing check as a de&iation for the p'rpose of e&al'ating thesa#ple(

C.treat the #issing check in the sa#e #anner as the #aorit) of the other 1checks$ that is$ co'ntersigned or not(

D. choose another check to replace the #issing check in the sa#ple(

12. In the a'dit of the financial state#ents of Eelta ,o#pan)$ the a'ditor deter#ines thatin perfor#ing a test of controls$ the de&iation rate in the sa#ple does not s'pport theplanned control risk when$ in fact$ the tr'e de&iation rate in the pop'lation doess'pport the planned control risk( This sit'ation ill'strates the risk of

A. assessing control risk too high(

B. assessing control risk too low(

C. incorrect reection(

D. incorrect acceptance(

13. An a'ditor #a) 'se either of two statistical sa#pling approaches in s'bstanti&etesting$ probabilit)5proportional5to5si:e ""S! sa#pling or classical &ariablessa#pling( ""S sa#pling is pri#aril) applicable in testing for

A. the n'#ber of errors in )ear5end sales c'toff(

B. an o&erstate#ent of acco'nts recei&able(

C. an 'nderstate#ent of acco'nts pa)able(

D.proper segregation of d'ties in acco'nts recei&able collections(

14. In a probabilit)5proportional5to5si:e sa#ple with a sa#pling inter&al of F17$777$ ana'ditor disco&ered that a selected acco'nt recei&able with a recorded a#o'nt ofF.$777 had an a'dit a#o'nt of F%$777( The proected #isstate#ent of this sa#plewas

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A. F*$777(

B. F+$777(

C. F=$777(

D. F$777(

15. Which of the following #ost likel) wo'ld be an ad&antage in 'sing classical&ariables sa#pling rather than probabilit)5proportional5to5si:e ""S! sa#pling?

A.An esti#ate of the standard de&iation of the pop'lation3s recorded a#o'ntsis not re-'ired(

B.The a'ditor rarel) needs the assistance of a co#p'ter progra# to design anefficient sa#ple(

C.Incl'sion of :ero and negati&e balances generall) does not re-'ire specialdesign considerations(

D.An) a#o'nt that is indi&id'all) significant is a'to#aticall) identified and

selected(

16. While perfor#ing a s'bstanti&e test of details d'ring an a'dit$ the a'ditor deter#inedthat the sa#ple res'lts s'pported the concl'sion that the recorded acco'nt balancewas #ateriall) #isstated( It was$ in fact$ not #ateriall) #isstated( This sit'ationill'strates the risk of

A. incorrect reection(

B. incorrect acceptance(

C. assessing control risk too low(

D. assessing control risk too high(

17. An ad&antage of 'sing statistical sa#pling techni-'es is that s'ch techni-'es

A. #athe#aticall) #eas're and control sa#pling risk(

B. eli#inate the need for 'dg#ental decisions(

C.define the &al'es of tolerable error and risk of incorrect acceptance re-'iredto pro&ide a'dit satisfaction(

D. ha&e been established in the co'rts to be s'perior to 'dg#ent sa#pling(

18. When planning a statistical ""S sa#ple$ which of the following factors wo'ld

nor#all) increase sa#ple si:e co#pared to the sa#e pop'lation for the pre&io's)ear?

A. The pop'lation si:e in ter#s of book &al'e has decreased(

B. The a'ditor decides to accept a larger a#o'nt of tolerable #isstate#ent(

C.The a'ditor decides to accept a s#aller a#o'nt of risk of incorrectacceptance(

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D.The a'ditor esti#ates that the anticipated #isstate#ent in the pop'lation hasdecreased(

19. The a'ditor3s decision abo't the risk of incorrect acceptance affects which of thefollowing factors in a statistical ""S sa#ple?

A. tolerable #isstate#ent

B. reliabilit) factor

C.book &al'e of the pop'lation

D. anticipated #isstate#ent

20. An a'ditor 'ses nonstatistical ratio esti#ation to e&al'ate the res'lts of a sa#ple(The pop'lation book &al'e was F%$777$777 and contained *.7 ite#s( The a'ditorselected 177 ite#s with a book &al'e of F.77$777( The a'dited &al'e of the sa#plewas F+7$777( The esti#ated a'dited &al'e of the pop'lation is0

A. F1$7$777(

B. F1$*7$777(

C. F1$%7$777(

D. F1$77$777(

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Latihan ,hapter 1+

1. An a'ditor wants to deter#ine that all sales ad'st#ents are recorded( This relates towhich of the following a'dit obecti&es?

A. the transaction class a'dit obecti&e for occ'rrence

B. the transaction class a'dit obecti&e for acc'rac)

C. the acco'nt balance a'dit obecti&e for &al'ation

D. the transaction class a'dit obecti&e for co#pleteness

2. If the a'ditor is concerned abo't the risk of fra'd in the re&en'e c)cle$ which of thefollowing best describes a'ditor concerns abo't eh potential for fra'd related to creditsales?

A. #anage#ent fra'd 6 high risk/ e#plo)ee fra'd 6 high risk

B. #anage#ent fra'd 6 high risk/ e#plo)ee fra'd 6 low risk

C. #anage#ent fra'd 6 low risk/ e#plo)ee fra'd 6 high risk

D. #anage#ent fra'd 6 low risk/ e#plo)ee fra'd 6 low risk

3. The a'ditor is st'd)ing a ratio of acco'nts recei&able growth rate to the growth rate ofsales( Which of the following indicates a potential risk of collection proble#s inacco'nts recei&able?

A. Sales grew b) 17D and recei&ables grew b) 11D fro# )ear one to )ear two(

B.Sales declines b) %D and recei&ables declined b) @D fro# )ear one to )eartwo(

C.Sales grew b) 17D and recei&ables declined b) %D fro# )ear one to )eartwo(

D. Sales grew b) .D and recei&ables grew b) 1@D fro# )ear one to )ear two(

4. Which of the following controls #ost likel) wo'ld be effecti&e in offsetting thetendenc) of sales personnel to #a2i#i:e sales &ol'#e at the e2pense of high bad debtwrite5offs?

A.4#plo)ees responsible for a'thori:ing sales and bad5debt write offs aredenied access to cash(

B.4#plo)ees who re&iew e2ception reports based on the co#p'ter #atching of

shipping infor#ation and data on sales in&oices do notha&e the a'thorit) towrite5off bad debts(

C.4#plo)ees who appro&e credit li#its incl'ded in a #aster c'sto#er file areseparated fro# the sales f'nction(

D.The acco'nts recei&able #aster file acco'nts recei&able s'bsidiar) ledger! isreconciled with the general ledger control acco'nt b) an e#plo)eeindependent of the a'thori:ation of credit(

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5. Which of the following controls #ost likel) wo'ld help ens're that all credit salestransactions of an entit) are recorded?

A.The co#p'ter co#pares sales orders with a c'sto#er3s credit li#it andc'rrent acco'nt balances(

B.The acco'nts recei&able #aster file acco'nts recei&able s'bsidiar) ledger! is

reconciled with the general ledger control acco'nt(

C.The acco'nting depart#ent s'per&isor controls the #ailing of #onthl)state#ents to c'sto#er and in&estigates an) difference reported b)c'sto#ers(

D.The co#p'ter prints a report of all ship#ents that ha&e not been #atchedwith a sales in&oice(

6. Which of the following internal control proced'res #ost likel) wo'ld ass're that nofictitio's billings ha&e been posted to the acco'nts recei&able ledger?

A.The co#p'ter co#pares the s'# of dail) sales with the total of postingdebits! to the acco'nts recei&able #aster file(

B. The co#p'ter co#pares each sales in&oice with s'pporting shippinginfor#ation(

C.The acco'nts recei&able #aster file acco'nts recei&able s'bsidiar) ledger! isreconciled with the general ledger control acco'nt(

D. 4ach ship#ent on credit is s'pported b) pren'#bered sales in&oice(

7. An a'ditor #ost likel) wo'ld re&iew an entit)3s periodic acco'nting for the n'#ericalse-'ence of shipping doc'#ents and in&oices to s'pport #anage#ent3s financialstate#ent assertion of

A. e2istence or occ'rrence(

B. rights and obligations(

C. &al'ation or allocation(

D. co#pleteness(

8. So'nd internal control proced'res dictate that defecti&e #erchandise ret'rned b)c'sto#ers sho'ld be presented initiall) to the

A. acco'nts recei&able s'per&isor(

B. recei&ing clerk(

C. sales #anage#ent(

D. sales clerk(

9. An a'ditor wo'ld consider a cashier3s ob description to contain co#patible d'ties ifthe cashier recei&es re#ittances fro# the #ailroo# and also prepares the

A.prelist of indi&id'al checks(

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19/31

B. #onthl) bank reconciliation(

C. dail) deposit slip(

D. re#ittance ad&ices(

10. The -'estions below appear on an Internal ,ontrol G'estionnaire( Which-'estion$ if answered NO$ wo'ld ha&e disclosed that the cashier di&erted cashrecei&ed o&er the co'nter fro# a c'sto#er to his or her own 'se and wrote offthe recei&able as a bad debt?

A.Are aging sched'les of acco'nts recei&able prepared periodicall) andre&iewed b) a responsible official?

B. Are o'rnal entries appro&ed b) a responsible official?

C.Are receipts gi&en directl) to the cashier b) the person who opens the#ail?

D.Are re#ittance ad&ices$ letter$ or en&elopes that acco#pan) receipts

separated and gi&en directl) to the acco'nting depart#ent?

11. In 'pdating a co#p'teri:ed acco'nts recei&able file$ which one of the followingwo'ld be 'sed as a batch control to &erif) the acc'rac) of posting cashre#ittances?

A. the s'# of net sales(

B. the s'# of cash deposits less disco'nts taken b) c'sto#ers

C. the s'# of cash deposits pl's disco'nts taken b) c'sto#ers

D. the s'# of net sales pl's disco'nts taken b) c'sto#ers

12. An entit) with a large &ol'#e of c'sto#er re#ittances b) #ail co'ld #ost likel)red'ce the risk of e#plo)ee #isappropriation of cash b) 'sing

A. e#plo)ee fidelit) bonds(

B. independentl) prepared #ailroo# prelists(

C. dail) check s'##aries(

D. a bank lockbo2 s)ste#(

13. I##ediatel) 'pon receipt of cash$ a responsible e#plo)ee sho'ld

A.prepare a prelisting of cash recei&ed or a re#ittance listing(

B. record the a#o'nt in the cash receipts o'rnal(

C. 'pdate the s'bsidiar) acco'nts recei&able records(

D.prepare a deposit slip in triplicate(

14. An a'ditor3s p'rpose in re&iewing credit ratings of c'sto#ers with delin-'ent

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acco'nts recei&able is #ost likel) to obtain e&idence concerning #anage#ent3sassertions abo't

A.presentation and disclos're(

B. e2istence or occ'rrence(

C. rights and obligations(

D. &al'ation or allocation(

15. The negati&e re-'est for# of acco'nts recei&able confir#ation is 'sef'lpartic'larl) when the

A.assess le&el of control risk for acco'nts recei&able is high$ the n'#ber ofs#all balances is #an)$ and the consideration b) the recipient is likel)

B.assess le&el of control risk for acco'nts recei&able is high$ the n'#ber ofs#all balances is few$ and the consideration b) the recipient is likel)

C.assess le&el of control risk for acco'nts recei&able is low$ the n'#ber of

s#all balances is #an)$ and the consideration b) the recipient is likel)

D.assess le&el of control risk for acco'nts recei&able is low$ the n'#ber ofs#all balances is #an)$ and the consideration b) the recipient is 'nlikel)

16. Which of the following #ost likel) wo'ld be detected b) an a'ditor3s re&iew of aclient3s sales c'toff?

A. 'nrecorded sales for the )ear

B. lapping of )ear5end acco'nts recei&able

C. e2cessi&e sales disco'nts

D. 'na'thori:ed goods ret'rned for credit

17. Which of the following #ost likel) wo'ld gi&e the #ost ass'rance concerning the&al'ation assertion of acco'nts recei&able?

A. Tracing a#o'nts in the s'bsidiar) ledger to details on shipping doc'#ents(

B.,o#paring recei&able t'rno&er ratios to ind'str) statistics forreasonableness(

C. In-'iring abo't recei&ables pledged 'nder loan agree#ents(

D. Assessing the allowance for 'ncollectable acco'nts for reasonableness(

18. ,'toff tests designed to detect credit sales #ade before the end of the )ear that ha&ebeen recorded in the s'bse-'ent )ear pro&ide ass'rance abo't #anage#ent3sassertion of

A.presentation(

B. co#pleteness(

C. rights(

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D. e2istence(

19. When sending positi&e confir#ations$ which of the following wo'ld NOT be anappropriate wa) to address non5response b) a c'sto#er?

A. Search for e&idence of s'bse-'ent cash receipt fro# the c'sto#er(

B. atch open in&oices to 'nderl)ing bills of lading and c'sto#er3s orders(

C. Send negati&e confir#ations in the place of positi&e confir#ations

D.Ass'#e that the non5response is 177D in error and proect the #isstate#enton the pop'lation(

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LATIHAN ,HA"T4 1.(

1. Which of the following ind'stries wo'ld ha&e the greatest concerns abo't p'rchasesc'toff at #onth end$ 'nrecorded liabilities$ and acco'nting for ad&ertising allowancespro&ided b) &endors?

A. #an'fact'rer of constr'ction e-'ip#ent(

B. retail grocer

C. a hotel

D. a local school district

2. If the a'ditor is concerned abo't the risk of fra'd in the e2pendit're c)cle$ which ofthe following best describes a'ditor concerns abo't the potential for fra'd in thee2pendit're c)cle?

A. #anage#ent fra'd 6 high risk/ e#plo)ee fra'd 6 high risk

B. #anage#ent fra'd 6 high risk/ e#plo)ee fra'd 6 low risk

C. #anage#ent fra'd 6 low risk/ e#plo)ee fra'd 6 high risk

D. #anage#ent fra'd 6 low risk/ e#plo)ee fra'd 6 low risk

3. The a'ditor is st'd)ing a ratio of acco'nts pa)able t'rn da)s( Which of the followingindicates a potential risk of 'nrecorded liabilities?

A.Acco'nts pa)able t'rn da)s increased fro# % da)s to +. da)s fro# )ear oneto )ear two(

B.Acco'nts pa)able t'rn da)s increased fro# % da)s to *7 da)s fro# )ear one

to )ear two(

C.Acco'nts pa)able t'rn da)s decreased fro# % da)s to 1. da)s fro# )ear oneto )ear two(

D.Acco'nts pa)able t'rn da)s decreased fro# *7 da)s to %. da)s fro# )ear oneto )ear two(

4. The internal doc'#ent co##onl) 'sed to a'thori:e the recording and pa)#ent of acredit p'rchase in the p'rchases o'rnal is a0

A.p'rchase re-'isition(

B.p'rchase order(

C. &endor3s in&oice(

D. &o'cher(

5. When goods are recei&ed$ the co#p'ter wo'ld co#pare recei&ing infor#ation withinfor#ation fro# which of the following doc'#ents and generate an e2ception reportof an) discrepancies?

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A.p'rchase order and p'rchase re-'isition infor#ation

B. &endor3s in&oice infor#ation

C. &endor3s shipping doc'#ent and p'rchase order infor#ation

D. &endor3s shipping doc'#ent and &endor3s in&oice infor#ation

6. Eescribe the progra##ed control proced're that pro&ides ass'rance that all the#erchandise for which the client was billed was recei&ed( Ass'#e that the co#p'terprepares an e2ception report and that follow5'p proced'res are effecti&e("rogra##ed edit checks co#pare0

A.-'antities and prices on the &o'cher with -'antities and prices on thep'rchase order(

B. -'antities on the &o'cher with -'antities entered in recei&ing(

C.-'antities and prices on the &o'cher with -'antities and prices on the

&endor3s in&oice(D. -'antities ti#es price on the &o'cher with the a#o'nt of cash disb'rse#ents(

7. Internal control is strengthened when the -'antit) of #erchandise ordered is o#ittedfro# the p'rchasing infor#ation that can be accessed thro'gh the co#p'ter b) the

A. depart#ent that initiated the re-'isition(

B. recei&ing depart#ent(

C.p'rchasing agent(

D. acco'nts pa)able depart#ent(

8. Which of the following progra##ed control proced're wo'ld be #ost effecti&e inass'ring that recorded p'rchases are acc'ratel) recorded for transactions that act'all)occ'rred?

A.The co#p'ter co#pares the -'antit) ordered fro# p'rchase orderinfor#ation with the -'antit) recei&ed fro# the recei&ing depart#ent(

B. endor in&oice infor#ation is co#pared with p'rchase order infor#ation(

C.ecei&ing reports re-'ire the signat're of the indi&id'al who a'thori:ed thep'rchase(

D.The co#p'ter #atches &o'cher infor#ation with infor#ation s'pportingp'rchase orders$ recei&ing reports$ and &endor3s in&oices(

9. Which of the following progra##ed control proced'res wo'ld be #ost effecti&e inidentif)ing 'nrecorded liabilities?

A.An e2ception report identifies all p'rchase orders that ha&e not beenrecei&ed(

B.An e2ception report identifies all &endors3 in&oices that do not ha&e a&o'cher(

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C. An e2ception report identifies all recei&ings that do not ha&e a &o'cher(

D.An e2ception report identifies all recei&ings that do not ha&e a &endor3sin&oice(

10. An acco'nts pa)able ter#inal operator at a s'bsidiar) co#pan) fabricated false

in&oices fro# a fictitio's &endor$ and entered the# in the parent co#pan)3s acco'ntspa)able J cash disb'rse#ent s)ste#( Ten checks totaling F1..$777 were iss'ed to the&endor( What internal control obecti&e was not achie&ed to allow the fra'd'lent#isstate#ent disc'ssed abo&e?

A. co#pleteness

B. c'toff

C. occ'rrence

D. classification

E. acc'rac)

11. Which of the following control proced'res is not 's'all) perfor#ed in the &o'cherspa)able depart#ent?

A. deter#ining the #athe#atical acc'rac) of the &endor3s in&oice

B. ha&ing an a'thori:ed person appro&e the &o'cher

C. controlling the #ailing of the check and re#ittance ad&ice

D. #atching the recei&ing report with the p'rchase order

12.

Which of the following progra##ed control proced'res wo'ld be #ost effecti&e inpre&enting d'plicate pa)#ents?

A.No checks can be #ade pa)able to Kcash or Kbearer(

B."ren'#bered checks are 'sed and the co#p'ter prints an e2ception report ofan) breaks in se-'ence(

C.After cash disb'rse#ent infor#ation is co#pared with 'ncanceled &o'cherinfor#ation the &o'cher is electronicall) canceled(

D.'n5to5r'n totals co#pare the beginning balance of the acco'nts pa)ablefile$ less cash disb'rse#ents$ with the ending acco'nts pa)able file(

13. Which of the following a'diting proced'res is best for identif)ing 'nrecorded trade

acco'nts pa)able?

A.e2a#ining 'n's'al relationships between #onthl) acco'nts pa)ablebalances and recorded cash pa)#ents

B.reconciling &endors3 state#ents to the file of recei&ing reports to identif)ite#s recei&ed 'st prior to the balance sheet date

C.in&estigating pa)ables recorded 'st prior to and 'st s'bse-'ent to thebalance sheet date to deter#ine whether the) are s'pported b) recei&ing

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reports

D.re&iewing cash disb'rse#ents recorded s'bse-'ent to the balance sheet dateto deter#ine whether the related pa)ables appl) to the prior period

14. Which of the following best describes the a'ditor3s responsibilit) to confir#ing

acco'nts pa)able?A.

,onfir#ation of acco'nts pa)able is re-'ired b) generall) accepted a'ditingstandards(

B.,onfir#ation of acco'nts pa)able is a #atter of professional 'dg#ent andwo'ld nor#all) be perfor#ed when detection risk is low(

C.,onfir#ation of acco'nts pa)able is a #atter of professional 'dg#ent andwo'ld nor#all) be perfor#ed when detection risk is high(

D.,onfir#ation of acco'nts pa)able is a #atter of professional 'dg#ent andwo'ld nor#all) be perfor#ed when control risk is low(

15. An a'ditor decided to confir# acco'nts pa)able to acco#plish a low le&el of

detection risk for the co#pleteness assertion( Which of the following is the #ostreasonable sa#pling plan?

A.,onfir# acco'nts pa)able with an e#phasis on all &endors incl'ding :eroand s#all balances(

B. ,onfir# acco'nts pa)able with an e#phasis on the largest acco'nt pa)ables(

C. ,onfir# acco'nts pa)able 'sing probabilit)5proportionate5to5si:e sa#pling(

D.,onfir# acco'nts pa)able with an e#phasis on new &endors$ irrespecti&e ofthe si:e of the acco'nt balance(

16. Which of the following proced'res is least likel) to be perfor#ed before the balancesheet date?

A. testing of internal control o&er cash

B. confir#ation of recei&ables

C. search for 'nrecorded liabilities

D. obser&ation of in&entor)

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LATIHAN ,hapter 1=

1.


27/31

#aterials and labor 'sage in dail) prod'ction acti&it) reports(

C.The co#pan) has designed independent checks on the agree#ent of entriesfor the transfer of work in process to finished goods with data in co#pletedprod'ction reports(

D.

anage#ent appro&es all o&erhead rates and standard costs

6. A client #aintains perpet'al in&entor) records in both -'antities and dollars( If theassessed le&el of control risk is low$ an a'ditor wo'ld probabl)

A.insist that the client perfor# ph)sical co'nts of in&entor) ite#s se&eral ti#esd'ring the )ear(

B. appl) gross profit tests to ascertain the reasonableness of the ph)sical co'nts(

C. increase the e2tent of tests of controls of the in&entor) c)cle(

D.re-'est the client to sched'le the ph)sical in&entor) co'nt at the end of the)ear(

7. The pri#ar) obecti&e of a ,"A3s obser&ation of a client3s ph)sical in&entor) co'nt isto

A.disco&er whether a client has co'nted a partic'lar in&entor) ite# or gro'p ofite#s(

B.obtain direct knowledge that the in&entor) e2ists and has been properl)co'nted(

C.pro&ide an appraisal of the -'alit) of the #erchandise on hand on the da) ofthe ph)sical co'nt(

D.allow the a'ditor to s'per&ise the cond'ct of the co'nt to obtain ass'rancethat in&entor) -'antities are reasonabl) acc'rate(

8. Which one of the following proced'res wo'ld NOT be appropriate for an a'ditor indischarging his or her responsibilities concerning the client3s ph)sical in&entories?

A. confir#ation of goods in the hands of p'blic wareho'ses

B. s'per&ising the taking of the ann'al ph)sical in&entor)

C. carr)ing o't ph)sical in&entor) proced'res at an interi# date

D.obtaining written representation fro# the client as to the e2istence$ -'alit)$and dollar a#o'nt of the in&entor)

9. Ass'#e that the a'ditor has obser&ed the ph)sical in&entor) and concl'ded that allin&entor) -'antities are &alid( Which of the following proced're represents the besttest of the &al'ation of in&entor) at


28/31

near )ear5end(

C.The a'ditor rando#l) selects ite#s fro# the in&entor) list for &o'ching priceson an e2tended in&entor) listing back to prior )ear3s working papers(

D.The a'ditor rando#l) selects &endor3s in&oices for tracing prices fro#&endor3s in&oices near the end of the )ear to prices on the e2tended in&entor)

listing(

10. If a client has a strong perpet'al in&entor) s)ste#$ the a'ditor is likel) to plan0

A. in&entor) obser&ations at an interi# date(

B. in&entor) price testing at )ear5end(

C. in&entor) tests of the lower of cost or #arket at an interi# date(

D. direct confir#ations of in&entor) pledged as collateral for loans(

11. In the a'dit of in&entor)$ selecting in&entor) ite#s fro# a perpet'al #aster file$

going to the location$ and obtaining test co'nts is intended to prod'ce e&idence forwhich a'dit obecti&e?

A. the transaction obecti&es that all transactions occ'rred

B. the balance obecti&e that in&entor) e2ists

C. the balance obecti&e that all in&entor) is recorded

D. the balance obecti&e that the client has rights to the in&entor)

12. Which of the following wo'ld represent the best e&idence for testing the netreali:able &al'e of in&entor)?

A. In&estigate sale prices on sales of in&entor) #ade after )ear5end(

B. o'ch in&entor) prices to &endor in&oices at an interi# date(

C. o'ch in&entor) prices to the perpet'al in&entor)(

D. In&estigate all prices that ha&e decreased b) #ore than .D d'ring the )ear(

13. Which of the following is NOT a significant concern abo't fra'd in the pa)rollc)cle?

A.4#plo)ees in&ol&ed in preparing and pa)ing the pa)roll #a) process datafor fictitio's e#plo)ees and then di&ert the pa)checks to their own 'se(

B. When there is fre-'ent t'rno&er of personnel in a co#pan)$ there is the riskthat a ter#inated e#plo)ee is contin'ed on the pa)roll(

C. anage#ent #a) o&erstate pa)roll costs as part of earning #anage#ent(

D.anage#ent #a) o&ertl) #isclassif) or Kpad labor cost in go&ern#entcontract work to defra'd the agenc)(

14. A client 'st read abo't a b'siness pa)ing e#plo)ees e2traordinar) s'#s of #one)to a &ariet) of e#plo)ees( 42plain how the client co#pan) wo'ld 'se progra##ed

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29/31

controls to pre&ent this t)pe of &al'ation proble#(

A. Test a check digit e#bedded in the e#plo)ee n'#ber(

B. "erfor# a li#it test related to the class of e#plo)ee(

C. ,heck the e#plo)ee n'#ber against the #aster pa)roll file(

D.,o#pare the total n'#ber of pa)roll disb'rse#ents with a predeter#inedbatch total(

15. If a progra##ed control o&er &al'ation of indi&id'al pa)roll ite#s is going to beeffecti&e$ which of the following controls #'st also be effecti&e?

A. controls o&er the co#pleteness of pa)roll ti#e cards

B. controls o&er access to pa)roll reports

C. controls o&er the processing of pa)roll ta2es

D. controls o&er access to the e#plo)ee #aster file

16. In a co#p'teri:ed pa)roll s)ste# en&iron#ent$ an a'ditor wo'ld be #ost effecti&e atfinding weaknesses in internal controls o&er the occ'rrence of pa)roll transactionsb) s'b#itting test data0

A. incorrect hash totals(

B. with total pa)roll that e2ceeds a predeter#ined li#it(

C. with an acco'nt n'#ber that does not #atch acco'nt n'#bers on ob tickets(

D. incorrect e#plo)ee n'#bers that do not contain appropriate check digits(

17. The lower assessed le&el of control risk approach #a) be 'sed b) the e2ternala'ditor in the personnel ser&ices c)cle beca'se$ a#ong other factors0

A. the chance of e#plo)ee fra'd is re#ote(

B.o'tside go&ern#ental a'ditors spend considerable ti#e in&estigating thepa)roll area in #ost co#panies(

C. a'dit risk in the area relates pri#aril) to the hiring of co#petent personnel(

D.pa)roll transactions are generall) ro'tine and processed in a high &ol'#e(

18. Which of the following a'dit obecti&es is L4AST LI84L9 to be acco#plished b)

&o'ching pa)roll transactions to s'pporting doc'#entation e(g($ ti#e cards ande#plo)ee contracts!?

A. the occ'rrence of pa)roll transactions

B. the co#pleteness of pa)roll transactions

C. the acc'rac) of pa)roll transactions

D.proper c'toff related to pa)roll transactions

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31/31

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Documents

Latihan Chapter 11 16 Plus Jawaban