Accg5908
THE UNIVERSITY OF NEW SOUTH WALES
School of Accounting
ACCT5908 – Auditing and Assurance Services
FINAL EXAMINATION
Session 1 - 2012
Student Name: Student Number: 1. 2. z
3.
Time allowed: 2 hours Number of questions: The exam is divided into two parts. PART A consists of 15 multiple choice questions worth 1 mark each, in total 15 marks. PART B is worth 40 marks and consists of four written answer questions. (Note that the questions are NOT of equal value) Total exam: 55 Marks (represents 55% of final assessment)
All questions are compulsory. Multiple choice questions are to be answered on the answer sheet. Written questions are to be answered in the spaces provided on this exam paper. THIS PAPER MAY NOT BE RETAINED BY THE CANDIDATE. ANSWERS MUST BE WRITTEN IN INK.
1
PART A
MULTIPLE CHOICE QUESTIONS (total of 15 marks)
This question contains fifteen (15) multiple choice questions each worth one (1) mark. A separate answer sheet is provided. Carefully read the instructions as provided. Indicate the most correct response in the spaces provided. Please ensure you fill in your Student Number and Student Name correctly on your answer sheet. No marks are deducted for an incorrect response.
1.
An auditor would place least reliance on substantive analytical procedures for the wages expense account if this account is: (a) (b) (c) (d) Material and the associated internal controls are weak. Not material and the associated internal controls are strong. Material and the associated internal controls are strong. Not material and the associated internal controls are weak.
2.
You are engaged as auditor for Teddy Limited and have been unable to attend the year end stocktake. The accounting records are sufficiently reliable to enable you to become satisfied as to the year end inventory balances, which are material. You are satisfied with the financial statements in all other respects. The appropriate audit opinion to issue is: (a) (b)
School of Accounting
ACCT5908 – Auditing and Assurance Services
FINAL EXAMINATION
Session 1 - 2012
Student Name: Student Number: 1. 2. z
3.
Time allowed: 2 hours Number of questions: The exam is divided into two parts. PART A consists of 15 multiple choice questions worth 1 mark each, in total 15 marks. PART B is worth 40 marks and consists of four written answer questions. (Note that the questions are NOT of equal value) Total exam: 55 Marks (represents 55% of final assessment)
All questions are compulsory. Multiple choice questions are to be answered on the answer sheet. Written questions are to be answered in the spaces provided on this exam paper. THIS PAPER MAY NOT BE RETAINED BY THE CANDIDATE. ANSWERS MUST BE WRITTEN IN INK.
1
PART A
MULTIPLE CHOICE QUESTIONS (total of 15 marks)
This question contains fifteen (15) multiple choice questions each worth one (1) mark. A separate answer sheet is provided. Carefully read the instructions as provided. Indicate the most correct response in the spaces provided. Please ensure you fill in your Student Number and Student Name correctly on your answer sheet. No marks are deducted for an incorrect response.
1.
An auditor would place least reliance on substantive analytical procedures for the wages expense account if this account is: (a) (b) (c) (d) Material and the associated internal controls are weak. Not material and the associated internal controls are strong. Material and the associated internal controls are strong. Not material and the associated internal controls are weak.
2.
You are engaged as auditor for Teddy Limited and have been unable to attend the year end stocktake. The accounting records are sufficiently reliable to enable you to become satisfied as to the year end inventory balances, which are material. You are satisfied with the financial statements in all other respects. The appropriate audit opinion to issue is: (a) (b)