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Which of the following is the most appropriate idea to include?
A regional entertainment organization is in the process of developing a corporate social responsibility (CSR) policy. Management invites ideas from employees when developing the CSR policy. Which of the following is the most appropriate idea to include?A . Management has overall responsibility for the effectiveness of governance, risk management, and...
Which of the following documents would promote objectivity within an organization's internal audit activity?
Which of the following documents would promote objectivity within an organization's internal audit activity?A . Internal audit charter. B. Internal audit manual. C. Audit committee charter D. Human resources employee handbook.View AnswerAnswer: B
Which of the following is the source of authority for the engagement supervisor to make such contact outside the organization?
An engagement supervisor obtains facilities maintenance reports from a contractor during an audit of third-party services. Which of the following is the source of authority for the engagement supervisor to make such contact outside the organization?A . The policies and procedures of the internal audit activity. B. The provisions of...
Which of the following would be the most appropriate approach?
The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review. Which of the following would be the most appropriate approach?A . An internal auditor who recently attended a...
Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?
An internal auditor discovered fraud while performing an audit of an organization’s procurement process. Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?A . Enhanced capability to prevent frauds from occurring. B. Greater assurance that procurement frauds will be detected in a timely...
Which of the following is the internal auditor's most appropriate next step?
Evidence discovered during the course of an engagement suggests that multiple incidents of fraud have occurred. There do not appear to be sufficient controls in place to prevent reoccurrence. Which of the following is the internal auditor's most appropriate next step?A . Immediately notify management of the area under review...
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?A . Chair should learn the current organizational culture of the company. B. Chair should learn the current risk management system...
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?A . The CAE previously undertook a consulting assignment in that area to improve processes, B. A couple of years ago, the CAE performed accounting functions for the payroll...
Which of the following is an example of a directive control?
Which of the following is an example of a directive control?A . Segregation of duties. B. Exception reports. C. Training programs. D. Supervisory review.View AnswerAnswer: C
In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?
In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?A . The effectiveness of process-level and transaction-level controls. B. Conflicts of interest within the organizational structure of the senior management. C. The alignment...
