Auditing theory

The manager should feel been or soon a main practitioner in exoteric representationancy. 14. The coercionthcoming sectors represented by the PICA to the companionship of AAAS feel undivided symbolical, exclude a. Synod c. Commerce and assiduity b. Exoteric manner d. Academe 15. Statements on financial representationing standards constituting GAP are issued by the a.
Philippine Institute of Spas. C. Audit Standards and Manners Council. B. Securities and Exchange Commission. D. Representationing Standards Council. 16. Indicate whether the coercionthcoming functions would be manufactured by: P S – Main M – Manager AS – Audit Assistant (1) Supervises span or past coincident audit engagements Performs elaborate audit procedures Overwhole obligation coercion audit Signs audit description s d. 17. The totality of audit fees halt amply on the – Partner a. Size and highization of the audience below audit. B. Totality of avail coercion the year. C. Availability of high. . Volume of audit fruit and degree of adequacy and responsibilities implicated. Page 3 of 7 18. In determining audit fees, an evidence may receive into representation each of the coercionthcoming exclude a. Volume and perplexity of fruit implicated. C. Number and consume of manors needed. B. Degree of obligation inconsequent. D. Size and totality of high of client. 19. Below this system of billing a client, the palpable evidences beak on the cause of term spent by principals/partners, supervisors, mains and Juniors at predetermined rates agreed upon with the client Maximum fee cause c.
Flat incorporate cause Retainer cause d. Per diem cause RA No. 9298 – Philippine Representationancy Act of 2004 and its AIR 1 . Which of the coercionthcoming is referable undivided of the bounded objectives of the Representationancy Act of 2004? A. Examination coercion registration of Spas. B. Supervision, guide, and authority of representationing manner. C. Standardization and authority of representationing information. D. Promulgation of representationing and auditing standards. In whole of the coercionthcoming situations exclude undivided, a peculiar is reported to be selected in administrative representationing manner.

Which of them is the excludeion? A. Performing audits or certainty of financial transactions and history coercion past than undivided client. B. Industrious as the province manager that supervises the BAS program of an informational organization. C. Pursuit as guideler of a retired matter exploit and such pursuit squires that the holder thereof should be a CPA. D. Appointment in the synod where original degree urbane advantage eligibility is a prerequisite. A peculiar is referable reported to be selected in administrative representationing manner if a.
Her narrowly holds himself extinguished as skilled in the comprehension and manner of representationing and suitable to assign advantages as a CPA. B. He narrowly offers to assign advantages as a CPA to the exoteric, barring does referable in-fact assign such advantages. C. He offers or assigns bookkeeping advantages to past than undivided client. D. He installs and revises representationing systems coercion past than undivided client. Manner in Exoteric Representationancy shwhole make in a peculiar a. Implicated in firmness making requiring administrative acquaintance in the comprehension of representationing, or when such pursuit or situation requires that the holder thereof must be a assured exoteric representationant. . In an informational organization which implicate instruction of representationing, auditing, address hortatory advantages, finance, matter jurisdiction, taxation, and other technically cognate subjects. C. Who holds, or is appointed to, a situation in an representationing administrative collection in synod or in a synod owned and/or guideled repair, including those performing proprietary functions, where firmness making requires administrative acquaintance in the comprehension of representationing, d.
Holding extinguished himself/herself as undivided skilled in the acquaintance, comprehension and manner of representationing, and as a suitable peculiar to assign administrative advantages as a assured exoteric representationant; or donation or assigning, or twain, to past than undivided client on a fee cause or otherwise. Any situation in any matter or audience in the retired sector which requires supervising the recording of financial transactions, prepair of financial tenements, coordinating with the palpable evidences coercion the audit of such financial statements and other cognate functions shwhole be impeded merely by a duly registered CPA.
Provided (select the faulty undivided) a. That the matter or audience where the aloft situation exists has a paid-up high of at meanest and/or an annual fruits of at meanest b. The aloft edibles shwhole exercise merely to peculiars to be industrious following the effectively of the Implementing Rules and Authoritys of RA 9298. C. The aloft edibles shwhole referable product to donation of the pursuit of incumbents to the situation. D. Nundivided of the aloft.

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