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The cost of modifying the sales system to include a preventive control is less than
The cost of modifying the sales system to include a preventive control is less than S100.000A . 1 onlyB . 3 onlyC . 1 and 3 onlyD . 1, 2, and3View AnswerAnswer: A
Submit management's plan of action to the external auditors for additional review.
Submit management's plan of action to the external auditors for additional review.A . 1 and 2B . 1 and 4C . 2 and 3D . 3 and 4View AnswerAnswer: A
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...
A preliminary observation document contains more detail than tie observation description in the engagement workpapers
A preliminary observation document contains more detail than tie observation description in the engagement workpapersA . 1 and 2B . 1 and 4C . 2 and3D . 3 and 4View AnswerAnswer: C
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...
To investigate this potential issue which of the following analytical approaches is the auditor likely to use?
An internal auditor suspects that employee turnover is unusually high at the organization's primary manufacturing plant. To investigate this potential issue which of the following analytical approaches is the auditor likely to use?A . Ratio analysisB . Vertical analysisC . BenchmarkingD . Cost-benefit analysis.View AnswerAnswer: C
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.B...
According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?
According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?A . The organization's audit universe is extensive and diverse.B . There has been an increase in unanticipated requests for advisory work.C . Previous work...
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 2B . 1 and 3C . 2 and 4D . 3 and 4View AnswerAnswer: D
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
