| | |Exercises and |
| | |Problems |
| |Review Checkpoints | |
| | | |
|Define information risk and explain how auditing and assurance services play|1, 2, 3 |48, 50 |
|a role in reducing this business risk. | | |
| | | |
|Define and contrast accounting, auditing, and assurance services. |4, 5, 6, 7, 8 |47 |
| | | |
|Describe and define the management assertions embodied in financial |9, 10, 11 |52, 54 |
|statements, and why auditors use them as a focal point of the audit. | | |
| | | |
|Explain some characteristics of “professional skepticism.” |12 | |
|
