Free Financial CFSA Exam Questions (page: 4)

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There are multiple sets of attribute and performance standards:

  1. False
  2. True
  3. True- In specific conditions
  4. False- In specific conditions

Answer(s): A



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All of the following phrases are used to express the auditor's opinion EXCEPT:

  1. Give a true and fair view
  2. Present fairly, in all material respects
  3. Timely and consistent opinion
  4. Comprehensible and realistic view

Answer(s): C



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The auditor should plan an audit with an attitude of:

  1. Professional competence
  2. Professional skepticism
  3. Subject awareness
  4. Opinion sharing

Answer(s): B



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Which of the following is a limitation in an audit that affects auditors' ability to detect material misstatements?

  1. Scope of an audit
  2. The use of testing
  3. Over- generalization
  4. Unidentifiable risks

Answer(s): B



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Reasonable assurance relates to the:

  1. Audit planning process
  2. Scope of the internal audit
  3. End of the audit process
  4. Whole audit process

Answer(s): D



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