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Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?
Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?A . Workshops.B . Surveys.C . Interviews.D . Observation.View AnswerAnswer: A Explanation: Workshops are likely...
Which of the following is a true statement regarding whistleblowing?
Which of the following is a true statement regarding whistleblowing?A . Whistleblowing is one of several possible ethical structures an organization can undertake to encourage ethical behavior.B . Whistleblowing programs help employees deal with ethical questions and instill ethical values into everyday behaviorC . Whistleblowers are current or former employees...
Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.
Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.A . 1 and 2 only.B . 2 and 3 only.C . 2 and 4 only.D . 3 and 4 onlyView AnswerAnswer: A Explanation: The most likely actions by...
Which of the following is most likely to be considered a control weakness?
Which of the following is most likely to be considered a control weakness?A . Vendor invoice payment requests are accompanied by a purchase order and receiving report.B . Purchase orders are typed by the purchasing department using prenumbered forms.C . Buyers promptly update the official vendor listing as new supplier...
Which of the following best illustrates the application of due professional care during an audit of the procurement department?
Which of the following best illustrates the application of due professional care during an audit of the procurement department?A . The internal auditor began checking purchase requisitions for proper authorizations. He stopped when he discovered an instance of noncompliance. and he concluded the controls were ineffective.B . The internal auditor...
According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?
A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?A . Assign the engagement to a...
Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?
An internal auditor discovered fraud while performing an audit of an organization’s procurement process. Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?A . Enhanced capability to prevent frauds from occurring.B . Greater assurance that procurement frauds will be detected in a timely...
Which of the following scenarios would most significantly restrict the areas where internal audit could perform assurance services?
Which of the following scenarios would most significantly restrict the areas where internal audit could perform assurance services?A . Regulators mandate specific audit engagements to be included in the audit plan.B . The internal audit activity reports functionally to the chief financial officerC . The internal audit activity reports administratively...
Which of the following would be the most appropriate approach?
The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review. Which of the following would be the most appropriate approach?A . An internal auditor who recently attended a...
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?A . Chair should learn the current organizational culture of the company.B . Chair should learn the current risk management system...
