Audit Gleim

Q.1 WebTrust is an example of a(n)
Assurance service.
Q.1 Which of the following is true regarding the SysTrust assurance service?
SysTrust reports are always based on a period of time, not a particular moment in time.
Q.1 Assurance services differ from consulting services because
Assurance services usually involve situations in which one party wants to monitor another and focus on improving information.
Q.1 WebTrust requires from client management a
Written assertion.
Q.1 Which of the following is a professional engagement that a CPA may perform to provide assurance on a system's reliability?
CPA SysTrust.
Q.1 According to the AICPA, the CPA WebTrust seal may relate to the principles and criteria of
Confidentiality YES
Availability YES
Internal Controls NO
Q.1 Engagement letters for ElderCare (PrimePlus) services should
Be tailored to fit each situation.
Q.2 Under the ethical standards of the profession, which of the following business relationships would generally not impair an auditor's independence?
Advisor to a client's board of trustees.
In which of the following situations would a covered member's independence be considered to be impaired?
1.The covered member maintains a checking account that is fully insured by a government deposit insurance agency at an audit-client financial institution.
2.The covered member has a direct financial interest in an audit client, but the interest is maintained in a blind trust.
3.The covered member owns a commercial building and leases it to an audit client. The lease is properly classified as a capital lease, and the rental income is material to the CPA.
II and III.
Q.2 Inclusion of which of the following statements in a CPA's advertisement is not acceptable pursuant to the AICPA Code of Professional Conduct?
Paul Fall
Certified Public Accountant
Endorsed by AICPA
Q2 Adams is the executive partner of Adams & Co., CPAs. One of its smaller...