ACC403 Auditing CPA Exam Practice Questions And Answers
Under the Sarbanes Oxley Act of 2002, which of the following is not a stated responsibility of the Public
Company Accounting Oversight Board (PCAOB)? - ANS-✔✔Issuing accounting standards that must be
followed by issuers in financial reporting.
The Public Company Accounting Oversight Board (PCAOB) is charged with all of the following
responsibilities EXCEPT - ANS-✔✔Establishing accounting standards for public companies.
The Sarbanes Oxley Act of 2002 imposes a mandatory rotation applicable to both the audit engagement
partner and the quality (also called review) partner. How long in total is the partner allowed to serve as
the engagement parter or review partner before someone else must serve in that capacity? - ANS-✔✔5
years
An entity engaged a CPA to determine whether the clients web sites meet defined criteria for standard
business practices and controls over transaction integrity and information protection. in performing this
engagement, the CPA should comply with the provisions of - ANS-✔✔Statements on Standards for
Attestation Engagements
At least how often should the PCAOB inspect a registered public accounting firm that regularly issues
audit reports to 50 issuers? - ANS-✔✔Every 3 years
An attestation engagement is one in which a CPA is engaged to - ANS-✔✔Issue a written
communication expressing a conclusion about the reliability of a written assertion that is the
responsibility of another party.
