[rknight21]

Wiley Question –

this i consider tricky because answer A & C are correct to me. what do you think

Which of the following would be used on a review en­gagement?

A. Examination of board minutes.

B. Confirmation of cash and accounts receivable.

C. Comparison of current year to prior year account balances.

D. Recalculation of depreciation expense.

[Study Chair]

I'd go with C since reviews are inquiry and analyticals.

BEC 86
FAR 87
REG 86
AUD 93 DONE!!

[Anonymous]

Errr. Gullible me got tricked again. I looked at the question and thought it was A. I then looked through my notes and I was wrong. Examination of board minutes is an audit procedure, not a review. Gary (from Yaeger) warned me about being tricked into picking audit answers in these types of question and of course, I still get tricked into it. Argh!!

Anyways, the answer is C. That's more of an analytical procedure, which is what a review consists of.

[Anonymous]

C.

Answer A is “Examination”. Review = Inquiring and Analytical Procedure

[rknight21]

well the only reason A isnt the answer is because of the word “examine” but in a review you do look at the board minutes

see AU 722.18… if i had to choose i would have gone with C, so its one of those best answer question

https://pcaobus.org/Standards/Auditing/Pages/AU722.aspx

[Anonymous]

A is not correct because words “examination” is used which = audit procedure

IF is said “Inquiry of board of minutes” then that would be a true statement since Inquires of Internal elements are required in a Review, as opposed to Inquiry of external elements.

[Author]

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