Full test for Big4 (Đề 2) - Kiểm toán Deloitte, KPMG, EY, PwC
I. Audit 1
II. Finance. 4
III. VAS. 5
IV. F3. 14
V. IQ.. 20
VI. General knowledge. 23
1. What is the primary difference between fraud and errors in financial statement reporting?
A. The materiality of the misstatement.
B. The intent to deceive.
C. The level of management involved.
D. The type of transaction effected.
2. Which of the following best represents fraudulent financial reporting?
A. The transfer agent issues 40,000 shares of the company’s stock to a friend without authorization by the board of directors.
B. The controller of the company inappropriately records January sales in December so that year-end results will meet analysts’ expectations.
C. The in-house attorney receives payments from the French government for negotiating the development of a new plant in Paris.
D. The accounts receivable clerk covers up the theft of cash receipts by writing off older receivables without authorization.
3. Which of the following is a common rationalization for fraudulent financial reporting?
A. This is a one-time transaction and it will allow the company to get through the current financial crisis, but we’ll never do it again.
B. We are only borrowing the money; we will pay it back next year.
C. Executives at other companies are getting paid more than we are, so we deserve the money.
D. The accounting rules don’t make sense for our company, and they make our financial results look weaker than is necessary, so we have a good reason to record revenue using a non GAAP method.
E. A and D
4. Which of the following would not be considered a principle of an organization’s control environment?
A. Independence and competence of the board.
B. Competence of accounting personnel.
C. Structures, reporting lines, and authorities and responsibilities.
D. Commitment to integrity and ethical values.
E. They would all be considered principles of the control environment.
5. Segregation of duties is best achieved in which of the following scenarios?
A. Employees perform only one job, even though they might have access to other records.
B. The internal audit department performs an independent test of transactions throughout the year and reports any errors to departmental managers.
C. The person responsible for reconciling the bank account is responsible for cash disbursements but not for cash receipts.
D. The payroll department cannot add employees to the payroll or change pay rates without the explicit authorization of the personnel department.
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