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Which of the following can be used to minimize employees’ resentment of controls?
Which of the following can be used to minimize employees’ resentment of controls?A . Making sure employees are exempt from participating in control creationB . Implementing controls without lengthy explanations of their purposeC . Developing general constricting controls rather than detailed onesD . Not using controls to achieve goalsView AnswerAnswer:...
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?A . Separate the duties of processing and authorizing refunds on merchandiseB . Post signs in the register area prompting customers to ask for and examine their sales receiptsC ....
Which of the following organizational practices is likely to be a part of a corporate social responsibility program?
Which of the following organizational practices is likely to be a part of a corporate social responsibility program?A . A mining company practices backfilling and planting trees after mining within an area.B . A construction company ensures that its workers are paid at the regulated minimum wage.C . A foods...
Which of the following is the most appropriate course of action?
Senior management asks the chief audit executive to review the organization's compliance with recently introduced legislation on international transfer pricing. The review requires an internal auditor who thoroughly understands the legislation and pricing methods. The internal audit activity does not have an auditor with those skills. Which of the following...
What approach should the CAE take for the upcoming financial statement controls audit?
A chief audit executive (CAE) recruited a few new internal auditors to reduce the resource gaps identified in this year's internal audit plan. One of the new recruits has several years of experience with the organization. Ten months ago. she served as a senior supervisor in the finance department. However,...
Which of the following concepts is emphasized in the Mission of Internal Audit?
Which of the following concepts is emphasized in the Mission of Internal Audit?A . Support of good governance and controls.B . Enhancement of organizational value.C . Protection of tangible and intangible assets.D . Provision of professional advisory and assurance services.View AnswerAnswer: B
To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?
A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed...
Which of the following would best help the organization manage the risk of fraud?
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted. Which of the following would best help the organization manage the risk of fraud?A . Accounting personnel should regularly perform reconciliation between invoices and purchase ordersB . Accounting personnel should conduct a...
In which of the following ways can a whistleblower hotline serve as a prevent Aative control?
In which of the following ways can a whistleblower hotline serve as a prevent Aative control?A . Third parties who operate the hotline ensure anonymity for whistle blowers.B . Whistleblower tips help discover wrongdoings and violations of the code of conduct. Potential perpetrators of fraud know that their actions can...
According to the Standards, in today's technology and business environments, how much computer and information systems-related knowledge and skills must an internal auditor have to be effective in fulfilling his job responsibilities?
According to the Standards, in today's technology and business environments, how much computer and information systems-related knowledge and skills must an internal auditor have to be effective in fulfilling his job responsibilities?A . Auditors must have an IT specialty in at least one of their organization's key information technology systems.B...
