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Au2 Assignment 1

In: Business and Management

Submitted By llzheng
Words 2818
Pages 12
12/25/14

CGA Ontario Instructor-Led Program

Assignment 1 — Session 2 (Winter)
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(This assignment is based on material in Modules 1 and 2)
If this is your first time using the Online Learning Environment, refer to the quick tutorials in the Support Centre. General assignment FAQs can be found in your Assignment/Quiz submission work area. Prepare your answers to these assignment questions in Word and save them as one Word document on your hard drive. For the recommended format and filename, see the Assignment submission area. If this assignment Word file requires you to paste Excel.xls sections or other files, you are strongly advised to refer to the pages How To/Use Software/Excel, Word, or both, to ensure you successfully submit your complete assignment. When your file is complete and you are ready to submit it for marking, click on Assignment Submission and select your assignment. For help, refer to the quick tutorial, “Assignment submission & retrieval.”

Question 1 (15 marks)
(Multiple choice) (1½ marks each)

Note: For multiple-choice questions, select the best answer. Answer each item by giving the number of your choice. Incorrect answers will be marked as zero. Multiple-choice questions must be completed in your Assignment submission area. This portion of the assignment will be automatically graded. Do not include your answers in your Word document as they will not be graded. a. During an audit of financial statements in an economic downturn, which of the following actions would the auditor be most likely to take? 1. 2. 3. 4. Increase sample size to gather more evidence. Place greater importance on management integrity. Hire an expert to evaluate accounting estimates. Increase the assessed level of planning materiality.

b. Audit quality indicators provide measures to evaluate overall audit quality. Which of the following is an audit...

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