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According to IIA guidance, which of the following roles should the CAE not undertake?
An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. According to IIA guidance, which of the following roles should the CAE not undertake?A . Manage and coordinate risk management processes.B . Audit risk...
Which of the following components are missing in the observation?
An audit observation states the following: "Despite the rules of the organization there is no approved credit risk management policy in the subsidiary. The subsidiary is concluding contacts with clients who have very high credit ratings. The internal audit team tested 50 contacts and 17 showed clients with a poor...
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...
Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?
Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?A . Proposing fine item recommendation lot the annual financial budget of the accounting departmentB . Making recommendations regarding financial approval authority limits for the operations departmentC . Validating whether employees are...
There is a greater likelihood that the auditor will obtain a responsive action plan from management when both parties agree on which of the following attributes of the audit finding?
Upon concluding the engagement fieldwork an internal auditor discusses the audit findings with operational management. There is a greater likelihood that the auditor will obtain a responsive action plan from management when both parties agree on which of the following attributes of the audit finding?A . CriteriaB . ConditionC ....
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...
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 the IIA guidance, which of the following foes the engagement work test in a review in a review of an organization al process?
According to the IIA guidance, which of the following foes the engagement work test in a review in a review of an organization al process?A . Process objectivesB . Process risksC . Process controlsD . Process scopeView AnswerAnswer: C
Which of the following would most likely cause an internal auditor to consider adding fraud work steps to the audit program?
Which of the following would most likely cause an internal auditor to consider adding fraud work steps to the audit program?A . Improper segregation of duties.B . Incentives and bonus programs.C . An employee's reported concerns.D . Lack of an ethics policy.View AnswerAnswer: C
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...
