Question 291
During an assurance engagement, an internal auditor identified that a developer of the organization's enterprise resource planning (ERP) system had intentionally modified the production code to commit a fraudulent transaction. Which control activity should be implemented to prevent such issues in the future?
Question 292
Which of the following is a true statement regarding controls such as ethical values, tone at the top and operational style?
Question 293
During the planning stage of an assurance engagement, a payroll clerk informed the internal auditor that he is often asked to add new employees to the payroll without any formal new-hire documentation from human resources. The auditor is concerned that this increases the risk for fraud. To complete engagement planning, which of the following is the most appropriate next step for the auditor to take?
Question 294
One of the goals of the finance department is to ensure payments are made to designated receivers only. For that purpose, the following controls are established:
- The first clerk enters data to initiate a payment transaction to the bank.
- The second clerk compares the payment data entered with the original invoice and ap-proves the disbursement.
- The third clerk prints bank statements weekly and compares them to invoices processed.
What should the internal auditor conclude?
- The first clerk enters data to initiate a payment transaction to the bank.
- The second clerk compares the payment data entered with the original invoice and ap-proves the disbursement.
- The third clerk prints bank statements weekly and compares them to invoices processed.
What should the internal auditor conclude?
Question 295
Due to the increased operational responsibility of the CEO the chief audit executive (CAE) of an organization currently reports to the chief financial officer (CFO) What is the likely impact of such a situation?