According to the International Professional Practices Framework, which of the following statements is correct regarding the communication of audit results?
1. Summary reports may be issued separately from or in conjunction with the final report.
2. Interim reports may be written or oral.
3. Detailed reports should always be issued to the audit committee.
4. Interim reports should be used to communicate information which requires immediate attention.

A chief audit executive (CAE) is determining which engagements to include on the annual audit plan. She would like to consider the organization's attitude toward risk and the degree of difficulty in achieving objectives. Which of the following resources should the CAE consult?

A bank is developing an integrated customer information system. The type of audit involvement that would most likely help avoid implementation of a system that does not cover all types of accounts would be:

An internal auditor is conducting tests to determine if an organization is in compliance with its payment approval policies. After reviewing a sample of vouchers selected, the internal auditor concluded that there were indicators of fraud. Which of the following would be the most appropriate method to expand the audit test to achieve the audit objective?
I. Validate the completeness of the accounts payable files.
II. Examine the sample of vouchers in greater detail.
III. Increase the number of vouchers in the sample.
IV. Broaden the scope of the examination to include credits received by accounts payable.

The chief audit executive (CAE) of a new organization is in the process of determining the manner in which audit reports will be distributed and to whom. According to the Standards, which of the following is the most appropriate course of action for the CAE to take to develop this distribution process?