10/23/23,
9:10
PM
Lesson
08
Quiz
Due
Oct
24
at
11:59pm
Available
until
Oct
24
at
11:59pm
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
Points
10
Allowed
Attempts
Unlimited
Instructions
Questions
10
Time
Limit
None
Some,
but
not
all,
of
the
responses
have
explanations
for
why
they
are
correct
or
incorrect.
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the
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to
begin.
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Attempt
1
7,035
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8
out
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10
Score
for
this
attempt:
10
out
of
10
Submitted
Oct
23
at
9:10pm
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attempt
took
less
than
1
minute.
Question
1
1/1
pts
https://canvas.asu.edu/courses/159839/quizzes/1199871
Audit
professionals,
audit
process,
and
audit
fees
Which
of
the
following
best
describes
key
areas
of
audit
quality
identified
by
the
PCAOB?
1/6
10/23/23,
9:10
PM
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
Audit
results,
audit
process,
and
audit
fees
Correct!
)
Audit
professionals,
audit
process,
and
audit
results
———
"
Nice
job!
Review
the
key
areas
of
audit
quality
at
the
top
of
page
122
-
of
the
text.
Now
get
back
to
work.
Audit
results,
audit
skills,
and
audit
fees
Question
2
1/1
pts
Which
of
the
following
is
not
one
of
the
factors
the
PCAOB
identified
as
assessing
audit
quality
related
to
audit
professionals?
Availability
correct
'
Integrity
(
"
Nice
job!
The
three
parts
of
audit
quality
related
to
audit
professionals
‘
are:
Availability,
Competence,
and
Focus.
Review
the
audit
quality
areas
related
to
audit
professionals
on
pages
122-123
of
the
text.
-
Now
get
back
to
work.
Competence
Focus
Question
3
1/1
pts
Which
of
the
following
factors
indicates
greater
availability
of
the
audit
professionals?
https://canvas.asu.edu/courses/159839/quizzes/1199871
2/6
10/23/23,
9:10
PM
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
A.
A
greater
proportion
of
work
is
performed
by
more
experienced
auditors
B.
A
greater
access
to
expert
advice
on
complex
issues
C.
A
greater
availability
of
bonuses
for
audit
staff
Correct!
)
BothA&B
—
"
Nice
job!
Review
the
factors
indicating
greater
availability
of
audit
-
professionals
on
page
122
of
the
text.
Now
get
back
to
work.
Question
4
1/1
pts
Which
of
the
following
is
not
an
indicator
of
the
availability
of
the
audit
professionals?
The
extent
to
which
audit
partners
have
smaller
work
loads
The
extent
to
which
audit
managers
and
audit
staff
should
have
fewer
demands
on
their
time
Correct!
The
extent
to
which
audit
engagement
partners
are
experts
in
all
audit
areas
/
-
An
audit
engagement
partner
being
an
expert
in
all
audit
fields
is
not
~an
indicator
for
availability.
Review
the
factors
indicating
availability
of
]
-
audit
professionals
on
page
122
of
the
text.
The
extent
to
which
audit
engagements
utilize
audit
staff
with
specialized
skills
and
knowledge
https://canvas.asu.edu/courses/159839/quizzes/1199871
3/6
10/23/23,
9:10
PM
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
Question
5
1/1
pts
Which
of
the
following
indicate(s)
greater
competence
of
audit
professionals?
A.
Greater
experience
B.
Greater
industry
expertise
Correct!
)
C.A&B
"
Nice
job!
Review
the
factors
indicating
competence
of
audit
-
professionals
on
page
123
of
the
text.
Now
get
back
to
work.
D.
None
of
the
above
Question
6
1/1
pts
Which
of
the
following
indicate(s)
greater
focus
of
audit
professionals?
Correct!
)
Spending
more
time
on
risky
areas
——
"
Nice
job!
Review
the
factors
indicating
focus
of
audit
professionals
on
!
page
123
of
the
text.
Now
get
back
to
work.
Spending
more
time
on
scheduling
appropriate
audit
personnel
Spending
more
time
on
the
same
task
None
of
the
above
https://canvas.asu.edu/courses/159839/quizzes/1199871
4/6
10/23/23,
9:10
PM
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
Question
7
1/1
pts
Which
of
the
following
relate(s)
to
audit
process?
Independence
Infrastructure
Incentives
Correctl
)
All
of
the
above
(
|
~
Nice
job!
Now
get
back
to
work.
Question
8
1/1pts
Which
of
the
following
does
not
indicate
better
infrastructure
of
audit
process?
Greater
firm
investment
in
its
people
Greater
firm
investment
in
audit
process
Greater
firm
investment
in
technology
that
supports
audit
quality
Correctl
)
Greater
firm
investment
in
client
relationships
———
|
i
Nice
job!
This
is
not
an
indicator
for
better
infrastructure
of
audit
-
process.
Review
pages
123-124
of
the
text
for
information
on
~infrastructure
of
audit
process.
Now
get
back
to
work.
Question
9
1/1
pts
https://canvas.asu.edu/courses/159839/quizzes/1199871
5/6
10/23/23,
9:10
PM
Lesson
08
Quiz:
ACC
450:
Principles
of
Auditing
(2023
Fall
-
B)
Which
of
the
following
factors
is
likely
to
increase
audit
quality?
Rewards
for
high
quality
performance
by
auditors
More
focus
on
risky
areas
such
as
accounting
estimates
Use
of
latest
available
audit
technologies
Correctl
)
All
of
the
above
——
"
Nice
job!
Now
get
back
to
work.
Question
10
1/1pts
Which
of
the
following
does
not
indicate
better
audit
results?
Higher
quality
of
financial
statements
Higher
quality
of
internal
controls
Correctl
)
Better
communication
between
audit
team
members
(
|
l
Nice
job!
This
would
not
inherently
indicate
better
audit
results.
-
Review
pages
125-126
of
the
text
for
information
on
audit
quality
-
related
to
audit
results.
Now
get
back
to
work.
Timely
reporting
of
going
concern
issues
Quiz
Score:
10
out
of
10
https://canvas.asu.edu/courses/159839/quizzes/1199871
6/6
