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Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?A . Planning an engagement of the area in which fraud is suspected.B . Employing audit tests to detect fraud.C . Interrogating a suspected fraudsterD . Completing...
Which of the following documents are internal auditors most likely to be asked to sign as a demonstration of due professional care?
Which of the following documents are internal auditors most likely to be asked to sign as a demonstration of due professional care? A description of their job responsibilities,A . A non-disclosure agreement.B . An annual declaration of commitment toC . The IIA s Code of Ethics.D . The internal audit...
Which of the following statements is true with regard to services provided by the internal audit activity?
Which of the following statements is true with regard to services provided by the internal audit activity?A . For consulting engagements, internal auditors do not need to be alert to control issues.B . Assurance and consulting services have similar objectives.C . Internal auditors may not perform assurance and consulting roles...
Which of the following situations undermines the independence of the internal audit activity?
Which of the following situations undermines the independence of the internal audit activity?A . The internal audit activity is responsible for the company's risk management function, and its head manager reports to the chief audit executive.B . A senior member of the internal audit activity once worked in the corporate...
Which of the following procedures will best help an internal auditor assess operating effectiveness of fraud prevention and detection controls?
Which of the following procedures will best help an internal auditor assess operating effectiveness of fraud prevention and detection controls?A . Benchmarking best practicesB . Testing,C . Mapping,D . InterviewingView AnswerAnswer: B Explanation: Testing is the most effective procedure for assessing the operating effectiveness of fraud prevention and detection controls....
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?A . Department performance standards.B . Remediation timeframes.C . Nonconformance disclosures.D . External assessment resourcesView AnswerAnswer: D Explanation: Before undertaking an assessment of the quality assurance and improvement program, it is...
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?A . Planning an engagement of the area in which fraud is suspected.B . Employing audit tests to detect fraud.C . Interrogating a suspected fraudsterD . Completing...
Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?
Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?A . ISO 26000.B . Global Reporting Initiative.C . Open Compliance and Ethics Group.D . COSO’s enterprise risk management frameworkView AnswerAnswer: B Explanation: The Global...
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?A . Investigation of health and safety incidents.B . Auditing of controls and management systems.C . Communication of disclosures and external reporting,D . Involvement in focus groups and complaint managementView AnswerAnswer: D Explanation: Engaging stakeholders in...
Which of the following would be the most effective fraud prevention control?
Which of the following would be the most effective fraud prevention control?A . Email alert sent to management for checks issued over $100,000.B . Installation of a video surveillance system in a warehouse prone to inventory loss.C . New hire training to explain fraud and employee misconduct.D . Daily report...
