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Which of the following engagement objectives would be appropriate to fulfill this request?
The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services from the internal audit activity to gain insight regarding the external risks. Which of the following engagement objectives would be appropriate...
Which of the following would provide the most reliable evidence that the completed work conformed to the plan?
An internal auditor is asked to review a recently completed renovation to a retail outlet. Which of the following would provide the most reliable evidence that the completed work conformed to the plan?A . An interview with the employee who performed the work B. An analysis of purchasing and receiving...
The same individuals who receive the final report.
The same individuals who receive the final report.A . 1 only B. 1 and 2 only C. 1, 2, and 3 D. 1, 2, and 4View AnswerAnswer: C
To investigate this potential issue which of the following analytical approaches is the auditor likely to use?
An internal auditor suspects that employee turnover is unusually high at the organization's primary manufacturing plant. To investigate this potential issue which of the following analytical approaches is the auditor likely to use?A . Ratio analysis B. Vertical analysis C. Benchmarking D. Cost-benefit analysis.View AnswerAnswer: C
Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?
Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?A . Proposing fine item recommendation lot the annual financial budget of the accounting department B. Making recommendations regarding financial approval authority limits for the operations department C. Validating whether employees are...
Which of the following component should be added to this observation?
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts...
Which of the following would most appropriately be used for this purpose?
An internal auditor is assigned to validate calculations on the organization's building application As pad of the test the internal auditor is required to use an automated audit tool to simulate transactions for testing. Which of the following would most appropriately be used for this purpose?A . Generalized audit software....
The IAA frequently is involved in various project teams and task forces in an advisory capacity.
The IAA frequently is involved in various project teams and task forces in an advisory capacity.A . 1 and 2 B. 1 and 3 C. 2 and 4 D. 3 and 4View AnswerAnswer: D
Which of the following would most likely be classified as a consulting engagement?
The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year All engagements should be appropriately categorized and presented to the chief audit executive for review. Which of the following would most likely be classified as a consulting engagement?A ....
Which of the following factors would the auditor in charge be least likely to consider when assigning tasks to audit team members for an engagement?
Which of the following factors would the auditor in charge be least likely to consider when assigning tasks to audit team members for an engagement?A . The amount of experience the auditors have conducting audits in the specific area of the organization. B. The availability of the auditors in relation...
