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Which of the following are appropriate reasons for internal auditors to document processes as part of an audit engagement?
Which of the following are appropriate reasons for internal auditors to document processes as part of an audit engagement? 1) To determine areas of primary concern. 2) To establish a standard format for process mapping. 3) To define areas of responsibility within the organization. 4) To assess the performance of...
Which of the following engagement observations would provide the least motivation for management to amend or replace an existing cost accounting system?
Which of the following engagement observations would provide the least motivation for management to amend or replace an existing cost accounting system?A . The distorted unit cost of a service is 50 percent lower than the true cost, while the true cost is 50 percent higher than the competition's cost.B...
Which of the following statements accurately describes the responsibility of the internal audit activity (IAA) regarding IT governance?
Which of the following statements accurately describes the responsibility of the internal audit activity (IAA) regarding IT governance? 1) The IAA does not have any responsibility because IT governance is the responsibility of the board and senior management of the organization. 2) The IAA must assess whether the IT governance...
Which of the following is useful for forecasting the required level of inventory?
Which of the following is useful for forecasting the required level of inventory? 1) Statistical modeling. 2) Information about seasonal variations in demand. 3) Knowledge of the behavior of different business cycles. 4) Pricing models linked to seasonal demand.A . 1 and 2 onlyB . 2 and 3 onlyC ....
Import quotas that limit the quantities of goods that a domestic subsidiary can buy from its foreign parent company represent which type of barrier to the parent company?
Import quotas that limit the quantities of goods that a domestic subsidiary can buy from its foreign parent company represent which type of barrier to the parent company?A . Political.B . Financial.C . Social.D . Tariff.View AnswerAnswer: A
Which of the following is useful for forecasting the required level of inventory?
Which of the following is useful for forecasting the required level of inventory? 1) Statistical modeling. 2) Information about seasonal variations in demand. 3) Knowledge of the behavior of different business cycles. 4) Pricing models linked to seasonal demand.A . 1 and 2 onlyB . 2 and 3 onlyC ....
They are helpful but limited in value in a rapidly changing environment.
They are helpful but limited in value in a rapidly changing environment.A . 1 and 2 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 3 and 4 onlyView AnswerAnswer: B
Which audit approach should be employed to test the accuracy of information housed in a database on an un-networked computer?
Which audit approach should be employed to test the accuracy of information housed in a database on an un-networked computer?A . Submit batches of test transactions through the current system and verify with expected results.B . Use a test program to simulate the normal data entering process.C . Select a...
Which of the following is true regarding an organization's relationship with external stakeholders?
Which of the following is true regarding an organization's relationship with external stakeholders?A . Specific guidance must be followed when interacting with nongovernmental organizations.B . Disclosure laws tend to be consistent from one jurisdiction to another.C . There are several internationally recognized standards for dealing with financial donors.D . Legal...
Which of the following are appropriate functions for an IT steering committee?
Which of the following are appropriate functions for an IT steering committee? 1) Assess the technical adequacy of standards for systems design and programming. 2) Continually monitor of the adequacy and accuracy of software and hardware in use. 3) Assess the effects of new technology on the organization`s IT operations....
