After Fieldwork Audit Procedures Are Completed, a Partner of the CPA

question 383

Multiple Choice

After fieldwork audit procedures are completed, a partner of the CPA firm who has not been involved in the audit performs a second or wrap-up review of the audit documentation. This second review usually focuses on:

• A) The fair presentation of the financial statements in conformity with GAAP.
• B) Fraud involving the client's management and its employees.
• C) The materiality of the adjusting entries proposed by the audit staff.
• D) The communication of internal control weaknesses to those charged with governance.

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Definitions:

New York Times v. United States

A landmark Supreme Court case in 1971 that made it possible for the New York Times and Washington Post newspapers to publish the then-classified Pentagon Papers without risk of government censorship or punishment.

Free Exercise Clause

A clause within the First Amendment of the U.S. Constitution that ensures people have the freedom to observe their religious beliefs without hindrance from the government.

Establishment Clause

Refers to the part of the First Amendment of the U.S. Constitution that prohibits the government from establishing an official religion or favoring one religion over others.

Equal Protection

The constitutional guarantee that no person or group will be denied the same protection of the laws that is enjoyed by similar persons or groups.