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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 2 B. 1 and 4 C. 2 and3 D. 3 and 4View AnswerAnswer: C
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 would be the most appropriate analytical review for the auditor to perform?
The audit manager asked the internal auditor to perform additional testing because several irregularities were found in the financial information. Which of the following would be the most appropriate analytical review for the auditor to perform?A . Compare the firm's financial performance with organizations in the same industry B. Interview...
Third-party opinion.
Third-party opinion.A . 1 and 3 B. 1 and 4 C. 2 and 3 D. 2 and 4View AnswerAnswer: C
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...
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...
Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?
Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?A . Tracing B. Reperformance C. Vouching D. WalkthroughView AnswerAnswer: B
Which of the following is the most appropriate course of action for the internal audit team leader?
An internal audit team leader is having difficulties completing the planning phase of an assurance engagement because the business unit lacks a system of internal controls. Which of the following is the most appropriate course of action for the internal audit team leader?A . Defer the engagement until a system...
Which of the following might alert an auditor to the possibility of fraud in a division?
Which of the following might alert an auditor to the possibility of fraud in a division? I. The division is not scheduled for an external audit this year. II. Sales have increased by 10 percent. III. A significant portion of management's compensation is directly tied to reported net income of...
Which of the following would constitute a violation of the IIA Code of Ethics?
Which of the following would constitute a violation of the IIA Code of Ethics?A . An internal auditor, who has recently joined the organization, has accepted an assignment to audit the electronics manufacturing division. The auditor previously served as senior auditor for the external audit of that division and has...
