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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 departmentB . Making recommendations regarding financial approval authority limits for the operations departmentC . Validating whether employees are...
According to IIA guidance which of the following statements is true regarding heat maps?
According to IIA guidance which of the following statements is true regarding heat maps?A . A heat map sets likelihood to have higher priority than impact.B . A heat map sets impact to have higher priority than likelihood.C . A heat map recognizes that the priority of impact and likelihood...
Third-party opinion.
Third-party opinion.A . 1 and 3B . 1 and 4C . 2 and 3D . 2 and 4View AnswerAnswer: C
Which of the following responses would be most effective to mitigate this risk?
During a review of the treasury function an internal auditor identified a risk that all bank accounts may net to include in the daily reconciliation process. Which of the following responses would be most effective to mitigate this risk?A . The treasury supervisor establishes a threshold for amounts on bank...
Which of the following is the best action for the internal auditor to take before drawing a conclusion?
An internal auditor collected several employee testimonials. Which of the following is the best action for the internal auditor to take before drawing a conclusion?A . Ensure the testimonials are well documentedB . Substantiate the testimonials with physical or documentary evidenceC . Corroborate testimonials with the results from other soft...
Which of the following would be the most appropriate analytical review for the auditor to perform?
The audit manager asked the internal auditor to perform additional testing because several irregularities were found in the financial information. Which of the following would be the most appropriate analytical review for the auditor to perform?A . Compare the firm's financial performance with organizations in the same industryB . Interview...
Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?
Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?A . To evaluate controls regarding the computer security of an oil refinery.B . To examine the processes involved in exploring, developing, and operating a gold mine.C . To assess the likelihood and impact of...
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?A . The establishment of an audit approach and documentation systemB . The standardization of workpaper terminology and notationsC . The ability to reach consistent audit conclusions regardless of who performs the auditD . The...
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 departmentB . Making recommendations regarding financial approval authority limits for the operations departmentC . Validating whether employees are...
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 analysisB . Vertical analysisC . BenchmarkingD . Cost-benefit analysis.View AnswerAnswer: C
