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MAS First Quiz

Management advisory services provided by certified public accountants (CPAs) are broad in scope and varied in nature. They involve identifying actions that clients can take in the future to address specific problems and provide benefits. While CPAs utilize more junior staff on audit engagements, management advisory services require greater involvement of senior staff due to the complex nature of the work. Competence in these services is acquired through education, auditing experience, and actual performance of advisory work.

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81 views

MAS First Quiz

Management advisory services provided by certified public accountants (CPAs) are broad in scope and varied in nature. They involve identifying actions that clients can take in the future to address specific problems and provide benefits. While CPAs utilize more junior staff on audit engagements, management advisory services require greater involvement of senior staff due to the complex nature of the work. Competence in these services is acquired through education, auditing experience, and actual performance of advisory work.

Uploaded by

Princess Claris Araucto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Mastery in Management Advisory Services

1. The following are the characterize management advisory services, except


a. Involves decisions for the future
b. Roaer in scope and varied in nature
c. Utilize more junior staff than senior members of the firm
d. Relate to specific problems where expert helps s required
2. A certified publc accountant’s scope of management services is broad and covers all of the
following except
a. Change in management engagement
b. Computerization engagement
c. Audit engagement
d. Re-engineering engagement
3. Which of the following is not a characteristic of maanagement services?
a. A wider variety of assignments are encuntered in MAS than in audit
b. MAS engagement are recurring
c. MAS pinpoints actions to be taken, the benefits of which will be received in the future
d. In MAS engagements, the nature of work involved requires a lesser need for juniour
assistance
4. Management Services of CPAs cover all of the following except
a. Project feasiility studies
b. System design development and implementation
c. Organizational development and planning
d. Audit, tax and legal services
5. A management advisory services engagement generally involves the following activities in what
order?
I. Pos engagement follow-up
II. Implementating the recommendations
III. Conducting the engagement
IV. Negotiating the engagement
V. Preparing for and starting the engagement
VI. Evaluating the engagement
VII. Preparing and representing the reprot and recommendation
a. VII, VI,V, IV,III, II and I c. IV,III,V,VI,II,VII and I
b. III, IV, V, VI, VII, I, AND II d. IV,V,III,VII,II,VI and i
6. Which of the following is not a qualification of a CPA in MAS proactice
a. Familiarity with the client’s financial accounting and internal control systems
b. Analytical experience in problem solving
c. Professional independence, objectivity and integrity
d. Auditor of the client
7. Competence in management advisory services is acquired by
a. Education
b. Auditing and other experience
c. Actual performance of amnageement advisory services
d. All of the above
8.

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