Great CPAs LLP performs the annual audit for Big 4, Inc., and delivers a copy of the audit report to Small Time Bank, N.A., Big 4’s primary long-term creditor. Who is the audit client?

__________________ is a form of sampling used to determine the extent to which some characteristic exists within a population of interest; used by the audit team during tests of controls. (Enter your answer in the following space.)

What is the primary reason why auditors request responses to attorney letters?

___________ is a financial instrument whose value is based on an index or value of another financial instrument. (Enter your answer in the following space.)

The __________________ is a situation in which the auditors are unable to obtain sufficient appropriate evidence. If material, it results in the issuance of either a qualified opinion or a disclaimer of opinion. (Enter your answer in the following space.)

Which of the following is a situation in which a necessary audit procedure was inadvertently not performed by auditors prior to the audit report release date?

The management letter is used to do what?

Which of the following internal control activities most likely would deter lapsing of collections from customers?

Which of the following situations indicates a potential material weakness in internal control over acquisition and expenditure?

An auditor vouched data for a sample of employees in a payroll register to approved clock card data to provide assurance that which of the following happened?