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  • Exam Number/Code : IIA-CIA-Part1
  • Exam Name : Essentials of Internal Auditing
  • Questions and Answers : 260 Q&As
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NEW QUESTION: 1
An accountant has compiled the financial statements of a nonissuer in accordance with Statements on
Standards for Accounting and Review Services (SSARS). The financial statements are expected to be
used by a third party. Does SSARS require that the compilation report be printed on the accountant's
letterhead and that the report be manually signed by the accountant?

A. Option A
B. Option C
C. Option D
D. Option B
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "D" is correct. SSARS does not require that the compilation report be printed on the accountant's
letterhead, nor does it require a manual signature. According to SSARS, a compilation report must state
that a compilation has been performed, describe what a compilation is, and emphasize that since no audit
or review was performed, no assurance is provided. Although a signature is required, it need not be
manual.
Choices "A", "B", and "C" are incorrect, per the above Explanation.

NEW QUESTION: 2

A. Option A
B. Option C
C. Option B
Answer: C

NEW QUESTION: 3
Which of the following media types is LEAST likely to be affected by electromagnetic interference?
A. Fiber
B. Wireless B
C. Coaxial
D. HSPA
Answer: A

 

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