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When conducting research, which of the following is most important?
When conducting research, which of the following is most important?A . Using computer databases or the Internet to find all relevant sources.B . Providing documentation of the reference sources.C . Presenting only those facts that support the conclusion.D . Presenting all contrary views to balance the opinion.View AnswerAnswer: B
Which of the following is true of engagement recommendations?
Which of the following is true of engagement recommendations? I. Specific suggestions for implementation must be included. II. The internal auditor's observations and conclusions may serve as the basis. III. Actions to correct existing conditions or improve operations may be included. IV. Approaches to correcting or enhancing performance may be...
Which of the following statements regarding this audit approach is correct?
An auditor plans to analyze customer satisfaction, including. (1) customer complaints recorded by the customer service department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a survey of customers who made purchases in the last three months. Which of the following...
The balanced scorecard approach differs from traditional performance measurement approaches because it adds which of the following measures?
The balanced scorecard approach differs from traditional performance measurement approaches because it adds which of the following measures? I. Financial measures. II. Internal business process measures. III. Client satisfaction measures. IV. Innovation and learning measures.A . I onlyB . II and IV onlyC . III and IV onlyD . II,...
An organization's internal auditors are reviewing production costs at a gas-powered electrical generating plant. They identify a serious problem with the accuracy of carbon dioxide emissions reported to the environmental regulatory agency, due to computer errors.
An organization's internal auditors are reviewing production costs at a gas-powered electrical generating plant. They identify a serious problem with the accuracy of carbon dioxide emissions reported to the environmental regulatory agency, due to computer errors. The auditors should immediately report the concern to:A . The regulatory agency.B . Plant...
Which of the following internal control objectives is the focus of this testing?
An audit of management's quality program includes testing the accuracy of the cost-of-quality reports provided to management. Which of the following internal control objectives is the focus of this testing?A . To ensure compliance with policies, plans, procedures, laws, and regulations.B . To ensure the accomplishment of established objectives and...
What would be used to determine the collectability of accounts receivable balances?
What would be used to determine the collectability of accounts receivable balances?A . The file of related shipping documents.B . Negative accounts receivable confirmations.C . Positive accounts receivable confirmations.D . An aged accounts receivable listing.View AnswerAnswer: D
Which of the following will be an appropriate course of action when an auditor disagrees with a client about a well-documented audit finding?
Which of the following will be an appropriate course of action when an auditor disagrees with a client about a well-documented audit finding?A . Include both the audit finding and the client's position in the audit report.B . Defer reporting the item and plan to perform more detailed work during...
Which of the following is used to identify and prioritize critical business applications to determine those that must be restored and the order of restoration in the event that a disaster impairs information systems processing?
Which of the following is used to identify and prioritize critical business applications to determine those that must be restored and the order of restoration in the event that a disaster impairs information systems processing?A . Contingent facility contract analysis.B . System backup analysis.C . Vendor supply agreement analysis.D ....
Which of the following audit procedures is most suitable for verifying that all sales transactions have been recorded?
Which of the following audit procedures is most suitable for verifying that all sales transactions have been recorded?A . Observation.B . Tracing.C . Re-computation.D . Vouching.View AnswerAnswer: B
