- All Exams Instant Download
Which of the following has the greatest effect on the efficiency of an audit?
Which of the following has the greatest effect on the efficiency of an audit?A . The complexity of deficiency findings.B . The adequacy of preliminary survey information.C . The organization and content of workpapers.D . The method and amount of supporting detail used for the audit report.View AnswerAnswer: B
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 ....
According to HA guidance, the chief audit executive is directly responsible for which of the following?
According to HA guidance, the chief audit executive is directly responsible for which of the following?A . Maintaining a quality assurance program even in the absence of management supportB . Periodically reviewing and approving the internal audit charierC . Providing opportunities for all staff auditors to satisfy their professional development...
Which of the following describes the control objective likely being tested?
An internal auditor uses a data query tool in the purchasing process to review the vendor master file for authorizations. Which of the following describes the control objective likely being tested?A . EffectivenessB . ResponseC . EfficiencyD . Mitigation.View AnswerAnswer: A
Which of the following is most likely to be a disadvantage of this outsourcing decision?
After the team member who specialized in fraud investigations left the internal audit team, the chief audit executive decided to outsource fraud investigations to a third party service provider on an as needed basis. Which of the following is most likely to be a disadvantage of this outsourcing decision?A ....
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...
Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?
Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?A . Identifying and managing risks in line with the entity's risk appetite.B . Ensuring that a proper and effective risk management process exists.C . Attaining an adequate understanding of...
The amount of fuel purchased.
The amount of fuel purchased.A . 1 and 2B . 1 and 4C . 2 and 3D . 3 and 4View AnswerAnswer: C
What would be the best way for the auditor to gather relevant feedback?
An internal auditor is preparing for an auditor of newly implemented software that is used by 3,000 employees in South America and Europe. What would be the best way for the auditor to gather relevant feedback?A . interview IT management in both regionsB . Inspect regional user software training recordsC...
Third-party opinion.
Third-party opinion.A . 1 and 3B . 1 and 4C . 2 and 3D . 2 and 4View AnswerAnswer: C
