- All Exams Instant Download
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 2B . 1 and 3C . 2 and 4D . 3 and 4View AnswerAnswer: D
During the filework phase of an assurance engagement the internal auditor decides that she wants to adjust the audit work program.
During the filework phase of an assurance engagement the internal auditor decides that she wants to adjust the audit work program. Which of the following is the most appropriate next step for the auditor to take9A . Request additional information needed from management of the area under review.B . Obtain...
Which of the following should be the focus of the effect section of the preliminary observations document?
Which of the following should be the focus of the effect section of the preliminary observations document?A . Residual riskB . Inherent riskC . Compensating controlsD . Control activitiesView AnswerAnswer: B
If observed during fieldwork by an internal auditor, which of the following activities is least important to communicate formally to the chief audit executive?
If observed during fieldwork by an internal auditor, which of the following activities is least important to communicate formally to the chief audit executive?A . Acts that may endanger the health or safety of individuals.B . Acts that favor one party to the detriment of another.C . Acts that damage...
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...
When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive?
When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive? • During an audit of the hiring process in a law firm, it was discovered that potential employees' credentials were not...
Which of the following courses of action would have prevented this situation?
An internal auditor was reviewing the procurement department's tender documentation for completeness He documented all discrepancies but the procurement manager disagreed with his findings Upon further review, the internal auditor noted that all discrepancies had been corrected in the tender database. Which of the following courses of action would have...
When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?
A corporate merger decision prompts the cruel audit executive (CAE) to propose interim changes lo the existing annual audit plan to account for emerging risks. When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?A . Present the...
Which of the following statements describes an engagement planning best practice?
Which of the following statements describes an engagement planning best practice?A . It is best to determine planning activities on a case-by-case basis because they can vary widely from engagement to engagement.B . If the engagement subject matter is not unique, it is not necessary to outline specific testing procedures...
Third-party opinion.
Third-party opinion.A . 1 and 3B . 1 and 4C . 2 and 3D . 2 and 4View AnswerAnswer: C
