Exam Details

  • Exam Code
    :CPA-TEST
  • Exam Name
    :Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation
  • Certification
    :AICPA Certifications
  • Vendor
    :AICPA
  • Total Questions
    :1241 Q&As
  • Last Updated
    :Jun 30, 2025

AICPA AICPA Certifications CPA-TEST Questions & Answers

  • Question 971:

    Analytical procedures performed in the overall review stage of an audit suggest that several accounts have unexpected relationships. The results of these procedures most likely would indicate that:

    A. Irregularities exist among the relevant account balances.

    B. Internal control activities are not operating effectively.

    C. Additional tests of details are required.

    D. The communication with those charged with governance should be revised.

  • Question 972:

    To be effective, analytical procedures in the overall review stage of an audit engagement should be performed by:

    A. The staff accountant who performed the substantive auditing procedures.

    B. The managing partner who has responsibility for all audit engagements at that practice office.

    C. A manager or partner who has a comprehensive knowledge of the client's business and industry.

    D. The CPA firm's quality control manager or partner who has responsibility for the firm's peer review program.

  • Question 973:

    Which of the following is a true statement regarding documentation requirements for analytical procedures?

    A. When an analytical procedure is used as the principal substantive test of a significant financial statement assertion, the auditor is required to document the reasons analytical procedures were performed instead of tests of details.

    B. When an analytical procedure is used as the principal substantive test of a significant financial statement assertion, the auditor is required to document his or her expectation and management's concurrence with that expectation.

    C. When an analytical procedure is used during the overall review stage of the audit, the auditor is required to document the auditor's expectation and any additional procedures performed to investigate significant unexplained differences.

    D. When an analytical procedure is used as the principal substantive test of a significant financial statement assertion, the auditor is required to document both the auditor's expectation and the factors considered in developing that expectation.

  • Question 974:

    Which of the following circumstances most likely would cause an auditor to suspect that material misstatements exist in a client's financial statements?

    A. The assumptions used in developing the prior year's accounting estimates have changed.

    B. Differences between reconciliations of control accounts and subsidiary records are not investigated.

    C. Negative confirmation requests yield fewer responses than in the prior year's audit.

    D. Management consults with another CPA firm about complex accounting matters.

  • Question 975:

    An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?

    A. Checklists.

    B. Working papers.

    C. Analytical procedures.

    D. Financial statements.

  • Question 976:

    Which best describes the documentation completion date?

    A. Forty-five days from the report release date, based on PCAOB standards.

    B. Sixty days from the report release date, based on PCAOB standards.

    C. Seven years from the report release date, based on auditing standards.

    D. Five years from the report release date, based on auditing standards.

  • Question 977:

    Which of the following is not true about the report release date?

    A. It is defined as the date after which existing documentation must not be deleted, and additions to the documentation file must be documented as such.

    B. It is often the date on which the report is delivered to the client.

    C. It is the date on which the auditor grants the client permission to use the report.

    D. It is used to define the beginning of the retention period.

  • Question 978:

    Audit documentation should be prepared in enough detail so that:

    A. An experienced auditor who has worked with the client in the past can understand the procedures performed and the evidence obtained.

    B. A reader of the financial statements who has no previous connection with the audit can understand the procedures performed and the evidence obtained.

    C. A reader of the financial statements who has a background in financial analysis can understand the procedures performed and the evidence obtained.

    D. An experienced auditor who has no previous connection with the audit can understand the procedures performed and the evidence obtained.

  • Question 979:

    Which of the following documentation is required for an audit in accordance with generally accepted auditing standards?

    A. A flowchart or an internal control questionnaire that evaluates the effectiveness of the entity's internal control.

    B. A management representation letter that summarizes the timing and details of the auditor's planned fieldwork.

    C. An indication in the audit documentation that the accounting records agree or reconcile with the financial statements.

    D. A list of the procedures performed and the findings obtained.

  • Question 980:

    Which of the following factors would least likely affect the nature and extent of audit documentation?

    A. The nature of the specific audit procedures.

    B. The risk of material misstatement.

    C. The extent to which judgment was required in performing the specific audit procedures.

    D. The content of the representation letter.

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