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Which tool should the auditor use?
During a consulting engagement an internal auditor wants to determine whether all principal stakeholders are involved in a project. Which tool should the auditor use?A . RACI (responsible, accountable, consult and inform) chartB . FlowchartC . SWOT {strengths. weaknesses opportunities, and threats) analysisD . Workflow analysisView AnswerAnswer: A
During the fieldwork 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 take?
During the fieldwork 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 take?A . Request additional information needed from management of the area under review.B . Obtain...
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 workB . An analysis of purchasing and receiving...
Which of the following would most likely assure the CAE that the engagement had adequate supervision?
A chief audit executive (CAE) reviews the supervision of an internal audit engagement. Which of the following would most likely assure the CAE that the engagement had adequate supervision?A . The engagement supervisor has an open door pokey for audit team members to discuss concernsB . The supervisor reviews weekly...
Which of the following is the most important concept to be included in a consulting engagement agreement?
Which of the following is the most important concept to be included in a consulting engagement agreement?A . Define the duties and responsibilities needed from management to perform the engagement.B . Disclose the fact that auditors who perform the work may not be subject matter experts in the topic of...
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...
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...
Which of the following is true regarding the validity of the observation closure?
Management has taken immediate action to address an observation received during an audit of the organization's manufacturing process. Which of the following is true regarding the validity of the observation closure?A . Valid closure requires evidence that ensures the corrected process will function as expected in the futureB . Valid...
According to IIA guidance which of the following statements is true regarding the annual audit plan?
According to IIA guidance which of the following statements is true regarding the annual audit plan?A . The annual audit plan should only be adjusted in response to problems with resourcing, scope, and data availability.B . The chief audit executive (CAE) may incorporate risk information, including risk appetite levels from...
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...
