2016年USCPA练习题精选：Auditing 6

1. The risk of incorrect acceptance and the likelihood of assessing control risk too low relate to the:
  a. Allowable risk of tolerable misstatement. 
  b. Effectiveness of the audit.
  c. Efficiency of the audit. 
  d. Preliminary estimates of materiality levels.

答案：B
Explanation
Choice "b" is correct. Both the risk of incorrect acceptance and the risk of assessing control risk too low relate to the effectiveness of an audit in detecting an existing material misstatement.
Choice "a" is incorrect. Allowable risk of tolerable misstatement does not exist.
Choice "d" is incorrect. The risk of incorrect acceptance and risk of assessing control risk too low are unrelated to preliminary estimates of materiality.
Choice "c" is incorrect. The efficiency of the audit is related to the risk of incorrect rejection and the risk of assessing control risk too high.

2. An auditor who uses statistical sampling for attributes in testing internal controls should reduce the planned reliance on a prescribed control when the:
 
  a. Sample rate of deviation is less than the expected rate of deviation used in planning the sample. 
  b. Tolerable rate less the allowance for sampling risk exceeds the sample rate of deviation. 
  c. Sample rate of deviation plus the allowance for sampling risk exceeds the tolerable rate. 
  d. Sample rate of deviation plus the allowance for sampling risk equals the tolerable rate.

答案：C
Explanation
Choice "c" is correct. The auditor will reduce reliance on a control if the upper deviation rate exceeds the tolerable rate. The upper deviation rate consists of the sample deviation rate plus an allowance for sampling risk. Therefore, if the sample deviation rate plus the allowance for sampling risk exceeds the tolerable rate, that is equivalent to the upper deviation rate exceeding the tolerable rate.
Choice "d" is incorrect. If the sample deviation rate plus the allowance for sampling risk equals the tolerable rate, the auditor may still place the planned amount of reliance on the control.
Choice "a" is incorrect. Whether the actual sample deviation rate is less than the expected deviation rate is irrelevant for making decisions about planned reliance levels.
Choice "b" is incorrect. If the tolerable rate less the allowance for sampling risk exceeds the sample rate of deviation, then the upper deviation rate is less than the tolerable rate. This situation supports the planned reliance, and no reduction in planned reliance would be necessary.

3. In addition to evaluating the frequency of deviations in tests of controls, an auditor should also consider certain qualitative aspects of the deviations. The auditor most likely would give broader consideration to the implications of a deviation if it was:
 
  a. Caused by an employee's misunderstanding of instructions. 
  b. The only deviation discovered in the sample. 
  c. Initially concealed by a forged document. 
  d. Identical to a deviation discovered during the prior year's audit.

答案C
Explanation
Choice "c" is correct. The auditor should consider both the qualitative and the quantitative aspects of deviations in tests of controls. Qualitative aspects might include whether deviations are indicative of an error or fraud. Such an evaluation is important because fraud is intentional, has implications beyond the direct monetary effect, and requires consideration of the implications for other aspects of the audit. Thus, a deviation initially concealed by a forged document is very serious and deserves broader consideration than a deviation of the same dollar amount due to an error.
Choice "b" is incorrect. The fact that a deviation was the only one discovered would have no importance beyond its impact on the computation of the upper deviation rate.
Choice "d" is incorrect. Discovery of a deviation identical to one discovered during the prior year's audit is not necessarily cause for additional concern.
Choice "a" is incorrect. Employee misunderstanding of instructions is an inherent limitation of internal control and is not necessarily cause for concern.

4. An advantage of statistical sampling over nonstatistical sampling is that statistical sampling helps an auditor to:
 
  a. Minimize the failure to detect errors and fraud. 
  b. Eliminate the risk of nonsampling errors. 
  c. Measure the sufficiency of the audit evidence obtained. 
  d. Reduce the level of audit risk and materiality to a relatively low amount.

答案：C
Explanation
Choice "c" is correct. Statistical sampling helps the auditor to measure the sufficiency of the audit evidence because the auditor can quantify the audit risk, thus assisting in limiting it to an acceptable level.
Choice "b" is incorrect. Nonsampling errors relate to the improper evaluation of evidence by the auditor and are not dependent on the sampling method used.
Choice "d" is incorrect. Audit risk can be reduced to a relatively low level with non-statistical sampling. Materiality is not affected by the sampling method used.
Choice "a" is incorrect. The use of statistical sampling does not necessarily minimize the failure to detect errors and fraud.

5. As a result of tests of controls, an auditor assessed control risk too low and decreased substantive testing. This assessment occurred because the true deviation rate in the population was:
 
  a. Less than the risk of assessing control risk too low, based on the auditor's sample. 
  b. Less than the deviation rate in the auditor's sample. 
  c. More than the deviation rate in the auditor's sample. 
  d. More than the risk of assessing control risk too low, based on the auditor's sample.

答案：C
Explanation
Choice "c" is correct. If the actual deviation rate in the population exceeds the maximum deviation rate based on the sample, control risk will be understated, since the control will be less effective than sample results would indicate.
Choice "a" is incorrect. No comparison should be made between the true deviation rate and the risk of assessing control risk too low.
Choice "b" is incorrect. If the true deviation rate is lower than the deviation rate in the sample, control risk may be assessed at a rate that is too high, potentially leading to audit inefficiencies.
Choice "d" is incorrect. No comparison should be made between the true deviation rate and the risk of assessing control risk too low.