Which of the following procedures would provide the best evidence of the effectiveness of a credit-granting function?

Which of the following would have the least significance in an audit of the efficiency of a driver's license testing facility?

Which of the following are key characteristics of enterprise risk management?
1. It considers risk in the formulation of strategy.
2. It applies risk management in some units of an entity.
3. It takes a portfolio view of risks throughout the enterprise.
4. It restricts the organization's ability to seize opportunities inherent in future events.

Which of the following files, when compared with billing records, would provide the best source of information for determining if all goods shipped are billed to customers?

During the quarterly review of the internal audit activity's performance, the chief audit executive (CAE) notes that actual engagement hours consistently exceed the budget. Which of the following strategies would most likely help the CAE address this problem?
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The budget should consider time spent on similar engagements.
The budget should consider the proficiency of the assigned auditors.
The budget estimate should provide for unexpected delays.
The budget should be specific as to time for each work assignment.