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QUESTION: 271

Which of the following represents appropriate evidence of supervisory review of engagement workpapers?

I). A supervisor's initials on each workpaper.
II). An engagement workpaper review checklist.
III). A memorandum specifying the nature, extent, and results of the supervisory review of workpapers.
IV). Performance appraisals that assess the quality of workpapers prepared by auditors.

II and IV only.
I, II, and III only.
I, III, and IV only.
I, II, III, and IV.

Answer(s): B

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QUESTION: 272

Which of the following conclusions would be appropriate for a beginning auditor performing an audit of a payroll department?

Employee taxes have been deducted at the correct rates, and the taxes have been forwarded to the appropriate government agency.
Although there is insufficient segregation of duties, the impact is mitigated by compensating controls.
The payroll computer system should be replaced.
The payroll department staff has the appropriate level of skills.

Answer(s): A

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QUESTION: 273

A governmental auditor was assigned to determine reasons why the students in one region scored significantly higher on education evaluation tests than did the students in another region. Previous research showed that there is a direct correlation between public financial support and student results. Which of the following is most likely to explain the difference in the regional results?

The more successful region spends 30 percent more money on education than does the other region.
A higher percentage of the general tax fund is spent on education in the more successful region than in the other region.
The more successful region spends more money per student on education than does the other region.
The more successful region has increased educational spending by an average of 10 percent each year for the last three years, whereas the other region's increase averaged only three percent.

Answer(s): C

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