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6 MCQ - Fundamentals of Assurance Services

This document contains 11 multiple choice questions about fundamentals of assurance services based on the Philippine Framework for Assurance Engagements. The questions cover topics such as the elements of assurance engagements, types of assurance engagements, levels of assurance, and planning assurance engagements.

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RAISA LIDASAN
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488 views1 page

6 MCQ - Fundamentals of Assurance Services

This document contains 11 multiple choice questions about fundamentals of assurance services based on the Philippine Framework for Assurance Engagements. The questions cover topics such as the elements of assurance engagements, types of assurance engagements, levels of assurance, and planning assurance engagements.

Uploaded by

RAISA LIDASAN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Chapter 6: Fundamentals of Assurance Services: Contains multiple choice questions related to the fundamentals of assurance services, testing understanding of key concepts and standards.

CHAPTER 6: FUNDAMENTALS OF ASSURANCE SERVICES

MULTIPLE CHOICE QUESTIONS

CADDDCDDDCD

[Link] of the following is false? Philippine Framework for Assurance Engagements


c. establishes standards or provides procedural requirements for the performance of assurance
engagements.
2. Which of the following is not an assurance engagement?
a. Compilation
3. Non-assurance engagements include all of the following except
d. compliance audit
4. Assurance engagements shpuld exhibit the following elements except
d. appropriate professional fees.
5. Which of the following forms may the subject matter of an assurance engagement take?
d. All of the above
6. Which of the following is not a component of engagement risk?
c. Business risk
7. Engagement risk is influenced by the risks associated with the following
except
d. unreasonably low professional fee.
8. An assurance engagement that provides a high level of assurance that the financial statements are free of material
misstatement is known as
d. independent financial statements audit.
9. Which of the following is not an assurance engagement?
d. Management Consulting Service
10. When the professional accountant has obtained sufficient appropriate evidence to conclude that the subject
matter conforms in all material respects with identified suitable criteria, he/she can provide
c. reasonable level of assurance.
11. A practitioner should plan and conduct the assurance engagement in an effective manner to meet the objective of
the engagement. Which of the following matters need not be a concern of the practitioner in planning
the work?
d. Specific format of the assurance report

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