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Which of the following is an appropriate documentation of proper engagement supervision?
Which of the following is an appropriate documentation of proper engagement supervision?A . A completed engagement workpaper review checklist.B . The supervisor's review notes on engagement workpapers.C . The email exchanges between the audit team and the supervisor.D . A supervisor's approval of resources allocated to the engagementView AnswerAnswer: B
Communicate to senior management a summary report on the status and adequacy of audit resources.
Communicate to senior management a summary report on the status and adequacy of audit resources.A . 1 and 3 onlyB . 2 and 4 onlyC . 1, 2, and 4D . 2, 3, and 4View AnswerAnswer: D
The final internal audit report should be distributed to which of the following individuals?
The final internal audit report should be distributed to which of the following individuals?A . Audit client management onlyB . Executive management onlyC . Audit client management, executive management, and others approved by the chief audit executive.D . Audit client management, executive management, and any those who request a copy.View...
Third-party opinion.
Third-party opinion.A . 1 and 3B . 1 and 4C . 2 and 3D . 2 and 4View AnswerAnswer: C
Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?
Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?A . To evaluate controls regarding the computer security of an oil refinery.B . To examine the processes involved in exploring, developing, and operating a gold mine.C . To assess the likelihood and impact of...
Which of the following is an appropriate documentation of proper engagement supervision?
Which of the following is an appropriate documentation of proper engagement supervision?A . A completed engagement workpaper review checklist.B . The supervisor's review notes on engagement workpapers.C . The email exchanges between the audit team and the supervisor.D . A supervisor's approval of resources allocated to the engagementView AnswerAnswer: B
Which of the following statements generally true regarding audit engagement planning?
Which of the following statements generally true regarding audit engagement planning?A . The best source tor detailed process information is senior managementB . Audit objectives should be general and do not change.C . Computer-assisted audit techniques are typically not useful during engagement planningD . Internal auditors should prepare a dented...
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...
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 analytics procedure would the auditor use?
An internal auditor wants to compare performance information from one quarter to another. Which analytics procedure would the auditor use?A . Ratio analysisB . Trend analysisC . Vertical analysisD . Benchmarking analysisView AnswerAnswer: A
