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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....
The IAA frequently is involved in various project teams and task forces in an advisory capacity.
The IAA frequently is involved in various project teams and task forces in an advisory capacity.A . 1 and 2 B. 1 and 3 C. 2 and 4 D. 3 and 4View AnswerAnswer: D
Which of the following would most likely be classified as a consulting engagement?
The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year All engagements should be appropriately categorized and presented to the chief audit executive for review. Which of the following would most likely be classified as a consulting engagement?A ....
Which of the following factors would the auditor in charge be least likely to consider when assigning tasks to audit team members for an engagement?
Which of the following factors would the auditor in charge be least likely to consider when assigning tasks to audit team members for an engagement?A . The amount of experience the auditors have conducting audits in the specific area of the organization. B. The availability of the auditors in relation...
What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?
What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?A . To ensure that the engagement is completed on time and within budget B. To ensure that all work performed meets acceptable quality standards C. To ensure that management has provided suitable responses...
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
According to IIA guidance, which of the following actions might place the independence of the internal audit function in jeopardy?
According to IIA guidance, which of the following actions might place the independence of the internal audit function in jeopardy?A . Having no active role or involvement in the risk management process. B. Auditing the risk management process for reasonableness. C. Coordinating and managing the risk management process. D. Participating...
According to IIA guidance which of the following statements is true regarding heat maps?
According to IIA guidance which of the following statements is true regarding heat maps?A . A heat map sets likelihood to have higher priority than impact. B. A heat map sets impact to have higher priority than likelihood. C. A heat map recognizes that the priority of impact and likelihood...
Which of the following should be described in the recognition element of a typical internal audit repot?
Which of the following should be described in the recognition element of a typical internal audit repot?A . Positive aspects of the process or area under review B. A brief synopsis of the process of area under review C. Outcomes and ratings of the process or area under review D....
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...
