Which of the following statements is correct?

Select one:

a. An engagement designed to express limited assurance relatingto subject matter or an assertion is called an examination.

b. An attest engagement in which the CPAs agree to performprocedures for a specified party and issue a report that isrestricted to use by that party is called an agreed-upon proceduresengagement.

c. Professional services that can be performed withoutconsidering ethics, integrity or independence are callednonassurance services.

d. Professional services that enhance the quality ofinformation, or its context, for decision makers are callednonattest services.

Audits lend credibility to information by reducing ____________,or the risk that the information used to assess business risk isnot accurate (or materially misstated)

Select one:

a. information risk

b. operational risk

c. audit risk

d. business risk

Which of the following statements is correct?

Select one:

a. Errors are intentional misstatements or omissions of amountsor disclosures in the financial statements.

b. Professional skepticism refers to an attitude that includes aquestioning mind, being alert to conditions that may indicatepossible misstatements, and a critical assessment of auditevidence

c. Audits provide absolute assurance of detecting materialmisstatements and reasonable assurance of detecting immaterialmisstatements.

d. When performing an audit, auditors should not trust anydocumentation provided by the client's management, even if theentity shows strong internal controls.