The geographical dispersion of audit staff across the organization.

The geographical dispersion of audit staff across the organization.A . 1 and 3 B. 1 and 4 C. 2 and 3 D. 2 and 4View AnswerAnswer: B

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Which of the following components are missing in the observation?

An audit observation states the following: "Despite the rules of the organization there is no approved credit risk management policy in the subsidiary. The subsidiary is concluding contacts with clients who have very high credit ratings. The internal audit team tested 50 contacts and 17 showed clients with a poor...

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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 organization B. LIMIT© ricks inventory to identify the risks...

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Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?

Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?A . Identifying and managing risks in line with the entity's risk appetite. B. Ensuring that a proper and effective risk management process exists. C. Attaining an adequate understanding of...

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Which of the following courses of action would have prevented this situation?

An internal auditor was reviewing the procurement department's tender documentation for completeness He documented all discrepancies but the procurement manager disagreed with his findings Upon further review, the internal auditor noted that all discrepancies had been corrected in the tender database. Which of the following courses of action would have...

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The final internal audit report should be distributed to which of the following individuals?

The final internal audit report should be distributed to which of the following individuals?A . Audit client management only B. Executive management only C. Audit client management, executive management, and others approved by the chief audit executive. D. Audit client management, executive management, and any those who request a copy.View...

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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

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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 only B. 3 only C. 1 and 3 only D. 1, 2, and3View AnswerAnswer: A

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Which of the following statements describes an engagement planning best practice?

Which of the following statements describes an engagement planning best practice?A . It is best to determine planning activities on a case-by-case basis because they can vary widely from engagement to engagement. B. If the engagement subject matter is not unique, it is not necessary to outline specific testing procedures...

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Which of the following engagement objectives would be appropriate to fulfill this request?

The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services from the internal audit activity to gain insight regarding the external risks. Which of the following engagement objectives would be appropriate...

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