1. Name/content of the first three paragraphs of the standard audit report; 17-5

2. Name and meaning of the 4 types of audit opinions/reports; 17-3

3. The different conditions under which a certain type of audit opinions is issued; 17-7

4. conditions that causes adding an explanatory paragraph to the standard report while keeping an unqualified opinion;

5. The name of three types of opinions auditors give for internal control effectiveness and conditions under which auditors give each of these opinions; 17-19, 22, 27, 29

1. Multiple choices questions, covering materials in the three new chapters after midterm 3 (17, 18, 21), plus the following issues in the prior chapters:

Audit risk model(chapter 5): Refer to the PDF file “review of risk concept” for a review. At a minimum, must be able to answer the following questions: definition of components of audit risk model; which components that the auditor can

control and cannot control; the role of audit risk model in audit engagement; the interactions among the components of audit risk model components.

internal control(chapter 6): COSO five elements; objectives of internal control; definitions of each of COSO elements

audit sampling(chapter 9): attribute sampling and dollar unit sampling; what factors determine sample size for either attribute or DUS sampling; how these factors affect sample size (i.e. make it smaller or larger); name and meaning of the two types of sampling risks.

fraud (chapter 6 appendix): triangle theory; fraud indicators; common type of fraud including kiting, lapping, etc.