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According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?A . The services must be aligned with those defined in the internal audit charter.B . The services must not be performed by the same internal auditor who...
Which of the following sampling strategies should she use?
An internal auditor wants to sample data to test an audit theory in a cost-effective way. Which of the following sampling strategies should she use?A . Statistical sampling onlyB . Nonstatistical sampling onlyC . A combination of both statistical and nonstatistical sampling.D . Neither approach to testing the audit theory...
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?A . The services must be aligned with those defined in the internal audit charter.B . The services must not be performed by the same internal auditor who...
Non-statistical sampling does not require which of the following?
Non-statistical sampling does not require which of the following?A . The sample to be representative of the population.B . The sample to be selected haphazardly.C . A smaller sample size than if selected using statistical sampling.D . Projecting the results to the population.View AnswerAnswer: C
Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?
Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?A . Workshops.B . Surveys.C . Interviews.D . Observation.View AnswerAnswer: B
In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?
In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?A . Maintaining industry-specific knowledge appropriate to the organization.B . Assessing how IT contributes to organization objectives, risks, and relevance to audit.C . Maintaining technical aspects of accounting standards...
Which of the following combinations of conditions is most likely a red flag for fraud?
Which of the following combinations of conditions is most likely a red flag for fraud?A . The practice of surprise audits and the implementation of an employee support program.B . Hiring an employee with a prior fraud conviction and yearly management review.C . Occasional accounting department overrides and discontinuation of...
Which of the following is most likely to be considered a control weakness?
Which of the following is most likely to be considered a control weakness?A . Vendor invoice payment requests are accompanied by a purchase order and receiving report.B . Purchase orders are typed by the purchasing department using prenumbered forms.C . Buyers promptly update the official vendor listing as new supplier...
Which of the following is most likely to enhance an internal auditor's objectivity?
Which of the following is most likely to enhance an internal auditor's objectivity?A . An auditor is appropriately able to communicate results.B . An auditor performs his work free from interference.C . An auditor is unrestricted in determination of scope.D . An auditor avoids conflicts of interest.View AnswerAnswer: D
Which of the following is an example of a directive control?
Which of the following is an example of a directive control?A . Segregation of duties.B . Exception reports.C . Incentive compensation plans.D . Automated reconciliations.View AnswerAnswer: C
