Which of the following best describes how the increased use of computerization may impact an auditor's assessment of the risk of fraud?

A company produces a product that consists of materials X, Y, and Z.
The product is mixed so that:
The quantity of material X used is one-third more than that of material Y.
The quantity of material Y used is one-fourth less than that of material Z.
If the company used 24, 000 units of material Z during a period, what is a reasonable estimate of the amount of material X used?

In which of the following circumstances is it apparent that the internal auditor exercised due professional care in carrying out his duties?
1.The internal auditor weighed the cost of the engagement against its potential benefits.
2.The internal auditor used anonymous information from a whistleblower to report the existence of fraudulent activity.
3.The internal auditor found minor and major instances of fraud and highlighted only the major instances in its report,in consideration of the board's limited time.
4.The internal auditor decided to use new auditing software to assist with the statistical analysis required during the engagement.

A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?

An internal auditor completed an audit of a bank's loan department and found all significant risks to be managed adequately through effective internal controls. Which of the following would be an appropriate conclusion to report to management?