Which of the following activities would be performed during a benchmarking consulting engagement?
I. Collect data relevant to the benchmarking process.
II. Review all business processes.
III. Define critical success factors.
IV. Identify performance gaps.

A manufacturing organization is considering a merger with a similar firm, and requests that the chief audit executive (CAE) perform a due diligence audit. During the preliminary survey, the CAE notes that inventory management is a high risk area. In consultation with the external auditors and legal advisors, the CAE learns that they share those concerns. Which of the following is the CAE's best course of action?

When interrogating an individual who is suspected of fraud, it is appropriate to:

What is the primary factor that determines the depth and breadth of audit follow-up?

Which of the following statements is correct regarding the use of a program evaluation and review technique (PERT) model?
It makes use of a probability model to arrive at a realistic estimate of time necessary for completion of the audit engagement.
It requires that activities are performed in sequence such that each task is completed before the commencement of the next activity.
It remains fixed once completed to act as a baseline for measuring the performance of the audit staff following completion of the engagement.
It begins with the auditor-in-charge identifying the overall scope and then breaking down the audit engagement into identifiable activity units.