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Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?
Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?A . Create an assurance map to illustrate each provider's level of assurance and planned activities for each area of the organizationB . LIMIT© ricks inventory to identify the risks...
To follow up, which of the following is the most appropriate action for the internal auditor to take?
An internal auditor submitted a report containing recommendations for management to enhance internal controls related to investments. To follow up, which of the following is the most appropriate action for the internal auditor to take?A . Observe corrective measures.B . Seek a management assurance declaration.C . Follow up during the...
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.B...
Which of the following components are missing in the observation?
An audit observation states the following: "Despite the rules of the organization there is no approved credit risk management policy in the subsidiary. The subsidiary is concluding contacts with clients who have very high credit ratings. The internal audit team tested 50 contacts and 17 showed clients with a poor...
When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?
When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?A . The chief audit executive may recommend that management conduct further work to identify the root cause and address the issueB . Internal auditors should finish...
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...
According to HA guidance, the chief audit executive is directly responsible for which of the following?
According to HA guidance, the chief audit executive is directly responsible for which of the following?A . Maintaining a quality assurance program even in the absence of management supportB . Periodically reviewing and approving the internal audit charierC . Providing opportunities for all staff auditors to satisfy their professional development...
According to IIA guidance, which of the following roles should the CAE not undertake?
An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. According to IIA guidance, which of the following roles should the CAE not undertake?A . Manage and coordinate risk management processes.B . Audit risk...
Which of the following is most likely to be a disadvantage of this outsourcing decision?
After the team member who specialized in fraud investigations left the internal audit team, the chief audit executive decided to outsource fraud investigations to a third party service provider on an as needed basis. Which of the following is most likely to be a disadvantage of this outsourcing decision?A ....
Which of the following audit procedures is most appropriate when existing internal controls are weak?
An internal auditor is conducting a financial audit. Which of the following audit procedures is most appropriate when existing internal controls are weak?A . Analytical procedures.B . Detail testing.C . Test of design.D . Test of control.View AnswerAnswer: B
