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Which of the following is a drawback of testing methods like this?
Is the documentation easily accessible to an persons who need in to perform their job? Which of the following is a drawback of testing methods like this?A . They ore kitted as they do not allow the auditor to test many controls.B . They do not highlight control gapsC ....
Which of the following is the most reliable source for verification of the current year end bank balances?
As part of internal audit's assistance with an annual external audit, the internal auditors are required to do a preliminary analytical review of an bank account balances. This involves verifying the current year end balances as web as comparing the current year end balances with previous year end balances to...
In which of the following populations would the internal auditor most likely choose to use a stratified sampling approach?
In which of the following populations would the internal auditor most likely choose to use a stratified sampling approach?A . Inventory comprised of the same items stored in different warehousesB . Batches of materials that must be confirmed as meeting quality standardsC . Revenue that is earned by an organization...
Which of the following would the auditor do to test the reliability of a customer database1?
An internal auditor is examining the organization's internal control processes. Which of the following would the auditor do to test the reliability of a customer database1?A . Perform a site visit to see whether the organization's servers are operationalB . Interview end users to determine whether they understand how to...
Which of the following statement is consistent with IIA guidance the use of mentoring for internal auditors?
Which of the following statement is consistent with IIA guidance the use of mentoring for internal auditors?A . The member and the internal auditor should opt for informal meetings even if it means that no formal documentation will be created.B . The mentor relationship is usually not suitable for internal...
When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?
When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?A . The chief audit executive may recommend that management conduct further work to identify the root cause and address the issueB . Internal auditors should finish...
Which of the following situations would justify the removal of a finding from the final audit report?
Which of the following situations would justify the removal of a finding from the final audit report?A . Management disagrees with the report findings and conclusions in their responses.B . Management has already satisfactorily completed the recommended corrective action.C . Management has provided additional information that contradicts the findings.D ....
Which type of engagement would be most appropriate to assess the root causes of the quality issues?
A toy manufacturer receives certain components from an overseas supplier and uses them to assemble final products Recently quality reviews have identified numerous issues regarding the components' compliance with mandatory quality standards. Which type of engagement would be most appropriate to assess the root causes of the quality issues?A ....
Based on the auditor's actions which of the following is most likely the objective of this engagement1?
An internal auditor accessed accounts payable records and extracted data related to fuel purchased tor the organization's vehicles As a first step, she sorted the data by vehicle and used spreadsheet functions to identify all instances of refueling on the same or sequential dates She then performed other tests. Based...
Which of the following should be added to the observation?
'Internal policy prohibits employees from entering into contacts with financial obligations without proper approval. A project manager signed a change to an important service agreement without obtaining the proper approval As a result the organization is receiving $5,000 per month less for its services.’’ Which of the following should be...
