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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 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 of the following statements about assurance maps is correct?
Which of the following statements about assurance maps is correct?A . An assurance map is used by the chief audit executive to coordinate assurance activities with other internal and external assurance providersB . An assurance map is a picture of all assurance engagements performed by the internal audit activity across...
An organization recently acquired a subsidiary in a new industry, and management asked the chief audit executive (CAE) to perform a comprehensive audit of the subsidiary prior to recommencing operations. The CAE is unsure her team has the necessary skills and knowledge to accept the engagement According to IIAguidance, which of the following responses by the CAE would be most appropriate?
An organization recently acquired a subsidiary in a new industry, and management asked the chief audit executive (CAE) to perform a comprehensive audit of the subsidiary prior to recommencing operations. The CAE is unsure her team has the necessary skills and knowledge to accept the engagement According to IIAguidance, which...
According to IIA guidance which of the following statements is true regarding the annual audit plan?
According to IIA guidance which of the following statements is true regarding the annual audit plan?A . The annual audit plan should only be adjusted in response to problems with resourcing, scope, and data availability.B . The chief audit executive (CAE) may incorporate risk information, including risk appetite levels from...
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...
Determine how the information is stored.
Determine how the information is stored.A . 1 and 3 onlyB . 2 and 4 onlyC . 1, 3, and 4 onlyD . 1, 2, 3, and 4View AnswerAnswer: D
Which of the following risks most appropriately describes this situation?
An internal auditor tested whether purchase orders were supported by appropriately approved purchase requisitions She sampled a population of purchase documents and identified instances where purchase requisitions were missing However, she did not notice that n some cases purchase requisitions were approved by an unauthorized person. Which of the following...
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
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...
