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Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?
Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?A . Create an assurance map to illustrate each provider's level of assurance and planned activities for each area of the organizationB . LIMIT© ricks inventory to identify the risks...
According to IIA guidance which of the following statements is true regarding the annual audit plan?
According to IIA guidance which of the following statements is true regarding the annual audit plan?A . The annual audit plan should only be adjusted in response to problems with resourcing, scope, and data availability.B . The chief audit executive (CAE) may incorporate risk information, including risk appetite levels from...
Which of the following responses would be most effective to mitigate this risk?
During a review of the treasury function an internal auditor identified a risk that all bank accounts may net to include in the daily reconciliation process. Which of the following responses would be most effective to mitigate this risk?A . The treasury supervisor establishes a threshold for amounts on bank...
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...
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...
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...
The geographical dispersion of audit staff across the organization.
The geographical dispersion of audit staff across the organization.A . 1 and 3B . 1 and 4C . 2 and 3D . 2 and 4View AnswerAnswer: A
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...
Determine how the information is stored.
Determine how the information is stored.A . 1 and 3 onlyB . 2 and 4 onlyC . 1, 3, and 4 onlyD . 1, 2, 3, and 4View AnswerAnswer: D
How would the CAE proceed to determine the objectives of this engagement?
An organization's finance manager plans to implement a state-of-the-art management system to better manage the organization's receivables. The finance manager consulted the chief audit executive (CAE) and asked for her assistance in determining whether the organization is able to accommodate this system. How would the CAE proceed to determine the...
