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Which of the following best describes this condition?
During a fraud interview, it was discovered that unquestioned authority enabled a vice president to steal funds from the organization. Which of the following best describes this condition?A . Scheme.B . Opportunity.C . Rationalization.D . Pressure.View AnswerAnswer: B
Which of the following should management action plans include at a minimum?
Which of the following should management action plans include at a minimum?A . An implementer for the action planB . An owner of the action planC . The internal auditor's next review date of the action planD . Detailed procedures for the action planView AnswerAnswer: B
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...
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?A . The establishment of an audit approach and documentation systemB . The standardization of workpaper terminology and notationsC . The ability to reach consistent audit conclusions regardless of who performs the auditD . The...
When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?
A corporate merger decision prompts the cruel audit executive (CAE) to propose interim changes lo the existing annual audit plan to account for emerging risks. When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?A . Present the...
Which of the following audit procedures is most appropriate when existing internal controls are weak?
An internal auditor is conducting a financial audit. Which of the following audit procedures is most appropriate when existing internal controls are weak?A . Analytical procedures.B . Detail testing.C . Test of design.D . Test of control.View AnswerAnswer: B
An organization s inventory is stored m multiple warehouses. During an inventory audit which of the following activities would most benefit from the use of computerized audit tools?
An organization s inventory is stored m multiple warehouses. During an inventory audit which of the following activities would most benefit from the use of computerized audit tools?A . Verifying the existence of inventory items in each warehouseB . Assigning the tolerable deviation rate to determine the sample sizeC ....
Which of the following would most appropriately be used for this purpose?
An internal auditor is assigned to validate calculations on the organization's building application As pad of the test the internal auditor is required to use an automated audit tool to simulate transactions for testing. Which of the following would most appropriately be used for this purpose?A . Generalized audit software.B...
Which of the following component should be added to this observation?
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts...
Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?
Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?A . A review of password policy compliance found that employees frequently use the same password more than once during a year. The IAA recommends that the access control software reject any...
