Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Audit Module A

Test 2

QuestionAnswer
audits high level of assuarance-positive opinion
examination less than an audit but still provides a positive opinions similar to audit high level of assurance
review much less than an audit-involves inquiries and analytical procedures-negative assurance-tpically nonpublic Co's"we are not aware of" moderate level of assurance. not allowed in certain engagements
agreed upon procedures no assurance just results. assurance depends on procedures
compilations no assurance
assurance services independent professional services that improve the qualtiy of info, or its context for decision makers
factors driving the demand for assurance services IT competition globalization education corp structure changes aging of us population
types of assurance services risk assessment bus. perform. measurement electronic commerce healthcare perf. primeplus
CPA trust services -3 concerns have driven this area: authenticity, trustworthiness, info sevurity -webtrust -systrust
webtrust reduces concerns on internet users about the website itself -the co exists -reliability of info regarding key bus. practices
systrust review of a clients comp system to provide assurance concerning: -security of info -privacy of info -confidentiality of info -system availabiltiy
primeplus services help seniors and fam make difficult decisoins about healthcare, living sitch, and fin. needs
primeplus services -providing for senior fam members medical and living needs -estate planning -fin. planning -tax prep -cash flow mgmt formally known as eldercare
performance measurement identification of critical success factors that measure and track a Co's progress towards targets, goals or objectives. Metric for measuring: key business processes, critical success factors, key performance indicators
performance view identifies and measures key activities that are critical to the Co
attest engagement (typically involves three parties user, party responsible for the assertion and CPA) engagement in which a practitioner is engaged to issue or does an examination, a review or an agreed upon procedures report on subject matter or an assertion about the subject matter that is the responsibility of another party
Types of Attestation engagements -Agreed upon procedures egmnts(AT201) -Fin forcast and projections(AT301) -Reporting on proforma fin.info.(AT401) -Co's IC over Fin.Rep.501 -Compliance attestation601 -Mgmts discussion and analysis701
prospective fin. info (PFI) fin info reping the fin position, results of ops, and cash flows for some period of time in the near future
types of pfi - fin. projection pfi based on occurance of one or more hypothetical events that change existinfg business structureCPAs MAY COMPILE OR EXAMINE
types of pfi - fin forecast pfi based on expected conditions and courses of action (eg no new distribution center) CPAs MAY COMPILE OR EXAMINE
types of pfi - pro forma shows effect of proposed transaction on historical data-ie merger CPAs MAY ONLY REVIEW OR EXAMINE
SSARS stmnts on standards for acct and review services
unaudited FSs of non public Co's stdrds come under SSARS, apply to unaudtied FSs of non public Co's reviews and compilations
Created by: BMookieW
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards