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Which of the following controls would best mitigate the risk of employees receiving kickbacks from suppliers?
An internal audit manager of a furniture manufacturing organization is planning an audit of the procurement process for kiln-dried wood. The procurement department maintains six procurement officers to manage 24 different suppliers used by the organization. Which of the following controls would best mitigate the risk of employees receiving kickbacks...
Which of the following audit techniques is used to evaluate control design while also embodying auditing's analytical process?
Which of the following audit techniques is used to evaluate control design while also embodying auditing's analytical process?A . A risk and control matrix.B . A flowchart.C . A walk-through.D . A process narrative.View AnswerAnswer: A
Which of the following statements may the IAA use to describe its work?
The results of an internal audit activity's (IAA) quality assurance and improvement program are favorable and an external assessment was completed within the last five years. Which of the following statements may the IAA use to describe its work?A . "Completed with the advance certification of the External Assessors Association...
Control activities.
Control activities.A . 1 and 3 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 2 and 4 onlyView AnswerAnswer: B
Justified and necessary, according to the IIA Code of Ethics and Standards.
Justified and necessary, according to the IIA Code of Ethics and Standards.A . 1 onlyB . 2 onlyC . 3 onlyD . 1 and 2 onlyView AnswerAnswer: C
Leave blank space for cross-references to be completed during the post-audit process.
Leave blank space for cross-references to be completed during the post-audit process.A . 1 and 2 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 3 and 4 onlyView AnswerAnswer: D
Which of the following actions are most appropriate for the auditor to take?
While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization. Which of the following actions are most appropriate for the auditor to take?A . Consult with an immediate supervisor and notify the organization's audit committee.B . Consult with an...
Which of the following does not need to be defined in the internal audit charter?
Which of the following does not need to be defined in the internal audit charter?A . The audit engagements to be performed during the upcoming year.B . The internal audit activity's position within the organization.C . The scope of internal audit activities.D . Management and the board of directors' agreement...
Which of following people or groups is most appropriate to perform this audit?
A government agency's policy states that board members' travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?A . The government's independent auditor.B . The external auditors from an accounting firm.C . The internal audit activity.D . The agency's...
Which of the following is not an appropriate activity for internal auditors to perform?
Which of the following is not an appropriate activity for internal auditors to perform?A . Recommend management seek a consulting firm to advise on outsourcing.B . Highlight matters that require management's attention.C . Implement solutions for specific organizational problems.D . Accumulate data, obtain varying views, and report information to senior...
