2016年美国注册会计师《审计与鉴证》模拟题(1)

　　1.Silver, CPA, has been hired by Andrews Co., a publicly held company, to conduct a review of its interim financial information. While performing review procedures, Silver becomes aware of a significant change in the control activities at one of Andrew\'s branch locations. Which of the following might Silver consider performing in response to this situation?

　　I. Making additional inquiries, such as whether management has monitored the changes and considered whether they were operating as intended.

　　II. Employing analytical procedures with a less precise expectation.

　　a. Both I and II.

　　b. Neither I nor II.

　　c. I only.

　　d. II only.

　　【答案解析】C

　　Choice "c" is correct. An accountant\'s knowledge of an entity\'s business and its internal control influences the inquiries made and analytical procedures performed. A significant change in control activities would likely result in further inquiry of management.

　　Choice "d" is incorrect. An accountant\'s knowledge of an entity\'s business and its internal control influences the inquiries made and analytical procedures performed. A significant change in control activities would likely result in the accountant employing analytical procedures with a more precise expectation, since more precise expectations are more effective at detecting misstatements.

　　Choices "a" and "b" are incorrect. Only choice "c" is correct, as explained above.

　　2.Which of the following statements is correct concerning letters for underwriters, commonly referred to as comfort letters?

　　a. Letters for underwriters typically give negative assurance on unaudited interim financial information.

　　b. Letters for underwriters ordinarily update auditors\' opinions on the prior year\'s financial statements.

　　c. Letters for underwriters are required by the Securities Act of 1933 for the initial public sale of registered securities.

　　d. Letters for underwriters usually are included in the registration statement accompanying a prospectus.

　　【答案解析】A

　　Choice "a" is correct. Comments concerning the unaudited interim financial information provide negative assurance as to whether any material modifications should be made to the unaudited interim financial information in order for it to be in conformity with GAAP.

　　Choice "c" is incorrect. Comfort letters are not required by the Securities Act of 1933, and copies are not filed with the SEC.

　　Choice "d" is incorrect. Comfort letters are addressed to the underwriter and are not included in the registration statement accompanying the prospectus.

　　Choice "b" is incorrect. The comfort letter does not update the opinion on previous financial statements. Often, underwriters will request that the accountants repeat in the comfort letter their report on the audited financial statements. Because of the special significance of the auditor\'s report, the auditors should not repeat their report.

　　3.Comfort letters ordinarily are signed by the client\'s:

　　a. Audit committee.

　　b. Underwriter of securities.

　　c. Senior management.

　　d. Independent auditor.

　　【答案解析】D

　　Choice "d" is correct. A comfort letter is a letter containing a negative assurance from the CPA to the underwriter or certain other requesting parties just before the registration of the client\'s securities.

　　Choice "b" is incorrect. The comfort letter is sent to the underwriter.

　　Choice "a" is incorrect. The audit committee does not sign a comfort letter.

　　Choice "c" is incorrect. Senior management may sign a client representation letter, not a comfort letter.

　　When an accountant compiles projected financial statements, the accountant\'s report should include a separate paragraph that:

　　a. Identifies the accounting principles used by management.

　　b. Describes the limitations on the projection\'s usefulness.

　　c. Describes the differences between a projection and a forecast.

　　d. Expresses limited assurance that the actual results may be within the projection\'s range.

　　【答案解析】B

　　4.Choice "b" is correct. The report on compiled projected financial statements should include a separate paragraph that describes the limitations on the usefulness of the presented statements.

　　Choice "c" is incorrect. The accountant\'s report on a compilation of a forecast or a projection does not describe the differences between them.

　　Choice "a" is incorrect. The report would not identify the accounting principles used by management.

　　Choice "d" is incorrect. A report on compiled projected financial statements does not express any assurance regarding the achievability of results.

　　5.Which of the following factors most likely would cause a CPA to not accept a new audit engagement?

　　a. The CPA lacks an understanding of the prospective client\'s operations and industry.

　　b. The prospective client is unwilling to make all financial records available to the CPA.

　　c. The prospective client has already completed its physical inventory count.

　　d. The CPA makes oral inquiries (only) to the predecessor auditor regarding the prior year\'s audit.

　　【答案解析】B

　　Choice "b" is correct. An auditor must consider the availability and adequacy of the client\'s accounting records and the integrity of management in deciding whether or not to accept a new audit engagement. A prospective client that is unwilling to provide all financial records would give the auditor cause for concern about both of these issues.

　　Choice "c" is incorrect. The auditor may apply acceptable alternative procedures to audit inventory.

　　Choice "a" is incorrect. The auditor can accept the engagement and obtain an understanding of the client\'s operations and industry after acceptance.

　　Choice "d" is incorrect. The CPA is required to make oral or written inquiries of the predecessor auditor before accepting an engagement. Oral inquiries are sufficient here.