Summary of 2022 Certified Public Accountant Examination Zhenti (Memory Edition)
First, multiple choice questions
1 Among the advantages of currency unit sampling, the wrong one is ().
A The sample size of currency unit sampling is smaller than that of traditional variable sampling.
B currency unit sampling is based on the principle of attribute sampling and is easy to use.
C currency unit sampling does not need to reduce variability through stratification.
D currency unit sampling design is easier, and sampling can be started before obtaining the complete population.
Reference answer a
Analysis: If the expected misstatement does not exist, the sample size is usually smaller than the traditional variable sampling method; When the amount of overall misstatement is expected to increase, the required sample size will also increase, and the sample size may be larger than that required by traditional variable sampling.
2, the following need to use the importance of actual execution is ().
A tolerable misstatement in audit sampling
B in determining how much misstatement will affect the economic decisions made by the expected users of financial statements
C impact of uncorrected misstatement on audit opinion
Determination of the critical value of D obvious minor misstatement
Reference answer a
Analysis A can not exceed the importance of actual implementation, BC is the overall importance of financial statements, and D is the critical value of obvious minor misstatement.
Involving knowledge points:
1, the concept of material misstatement risk.
2. Identification;
3. Factors to consider in determining the level of importance.
4. Appropriateness and completeness of audit evidence.
5. Importance of group audit; Group audit implementation of further audit procedures; Group audit understands the components of certified public accountants; The importance of the components.
6. Audit sampling risk.
7. Factors affecting the sample size.
8. Overall plan of further audit procedures.
9. Advantages and disadvantages of currency unit sampling.
10, auditing the three parties.
1 1, the way of confirmation
Second, multiple choice questions
1. Which of the following belong to the audit tripartite parties:
A business principal
B certified public accountant
C management of the audited entity
D intended users of financial statements
Reference answer ABCD
2. The following statements about audit evidence are correct ()
A the core content of appropriateness is relevance and reliability.
B the appropriateness of audit evidence can not make up for the insufficiency of audit evidence.
C the adequacy of audit evidence can not make up for the defects of the appropriateness of audit evidence.
D the appropriateness of audit evidence is a measure of the quality of audit evidence.
Reference answer ACD
Involving knowledge points:
1, factors to be considered in determining the importance level (benchmark, percentage).
2. Control the scope of the test.
3. Letter of confirmation.
4. Appropriateness and sufficiency of audit evidence.
5. Respond to the risk of material misstatement at the level of financial statements.
6. The communication between the certified public accountant and the governance and management of the audited entity has not corrected the misstatement.
7. Sampling risk and non-sampling risk.
8. Audit of accounting estimates.
Third, short answer questions
Short answer 1: the firm checks the partners who undertake listed entities every two years and the unlisted entities every four years. Is the firm's regulations appropriate?
The reference answer is appropriate.
Analyzing the monitoring activities of accounting firms should include periodically selecting some projects from the completed projects of accounting firms for inspection. In each cycle, at least one completed project is selected for inspection by each project partner. For each project partner who undertakes the audit business of listed entities, the longest inspection period shall not exceed three years.
Short answer 2: Company A is a perennial audit client of ABC firm, and XYZ Company is a network firm of ABC firm, auditing the financial statements of 20021year.
(1)A Certified Public Accountant served as other key audit partner in 20 14 and 20 15 years, served as project quality checker in 2018 years, and ceased to be a project partner in 200218 years.
(2) In 20021year, intern B of XYZ Company was seconded to participate in inventory supervision, and intern B has been holding 0/000 shares of Company A since then.
(3) The investment relationship in June, 20021year made Company A an important joint venture of Company B, and the sister of project partner C served as the chief financial officer of Company B..
(4) D, the signature certified public accountant of the audit project, did not participate in the audit in 2002 1 year, and joined Company A as a senior manager in 20221month.
Reference answer
(1) violation. He has worked as a quality reviewer for a total of 3 years, and the cooling-off period should be 3 years in a row. However, A CPA only ceases to be a project partner in-and is still in the cooling-off period in 2 1 year, so he cannot be a key audit partner.
(2) violation. Interns who participate in inventory supervision are also members of the audit project team, and must not have direct economic interests among audit clients, otherwise their own interests will have a very serious adverse impact on independence.
(3) violation. Other close relatives of the project partners, as the chief financial officer among the audit clients, may have a serious adverse impact on independence due to their own interests, close relationship or external pressure.
(4) violation. As a key audit partner, D, the signed certified public accountant, left his post and joined Company A as a senior manager earlier than the date when Company A published the audited financial statements for 20021year, and it is still in the "cooling-off period", so it will have a serious adverse impact on his independence due to close relationship or external pressure.
Involving knowledge points:
1, monetary fund audit.
2, accounting firm business quality management.
3. Independence.
4. Audit working papers.
5. Integrated audit (internal control audit).
6. Audit report.
Fourth, comprehensive questions
Information 4:
(1) Use experts to implement the analysis program. For the original data, the experts will measure part of it and note that it is complete, accurate and appropriate.
(2) The certified public accountant is satisfied that the audited entity has confirmed the income in advance and checked the subsidiary ledger from the customer receipt ten days before the balance sheet.
Reference answer
(1) is inappropriate, and it is necessary to evaluate the relevance, completeness and accuracy of important raw data used by experts.
(2) Inappropriate, if the income is confirmed in advance, it is necessary to check the receipt form after the balance sheet date and trace it to the subsidiary ledger to see if there is any income confirmation in advance.
Information 5:
There are sales personnel misappropriating sales funds, and the management has not implemented appropriate response procedures. After communicating with the management, I thought that the problem was not serious and did not communicate with the management again.
The reference answer is not appropriate. Sales personnel misappropriating sales funds involves fraud, but the management did not respond properly, so they should communicate with the management.
Knowledge points:
1. Identification: income, cost, long-term deferred expenses, R&D expenses and government subsidies.
2. Accounting estimation audit (risk assessment, risk response).
3. Inventory supervision.
4. Audit of related parties.
5. Deadline test of income.
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