Question 246

An internal auditor has completed an audit of an organization's activities and is ready to issue a report.
However, the client disagrees with the internal auditor's conclusions. The auditor should:
  • Question 247

    Which of the following is the primary reason for internal auditors to conduct interim communications with management of the area under review?
  • Question 248

    Which of the following has the greatest effect on the efficiency of an audit?
  • Question 249

    A large retail organization, which sells most of its products online, experiences a computer hacking incident.
    The chief IT officer immediately investigates the incident and concludes that the attempt was not successful.
    The chief audit executive (CAE) learns of the attack in a casual conversation with an IT auditor. Which of the following actions should the CAE take?
    1. Meet with the chief IT officer to discuss the report and control improvements that will be implemented as a result of the security breach, if any.
    2. Immediately inform the chair of the audit committee of the security breach, because thus far only the chief IT officer is aware of the incident.
    3. Meet with the IT auditor to develop an appropriate audit program to review the organization's Internet-based sales process and key controls.
    4. Include the incident in the next quarterly report to the audit committee.
  • Question 250

    Which of the following documents should the chief audit executive review and approve?
    1.Workpaper retention policy.
    2.Audit committee meeting minutes.
    3.Internal audit handbook.
    4.Quarterly financial statements.