Question 566

The internal audit activity performs the following sequence of risk management activities: identification, analysis, and evaluation. According to IIA guidance, which of the following assurance approaches does this describe?
  • Question 567

    A manufacturing process could create hazardous waste at several production stages, from raw materials handling to finished goods storage. If the objective of a pollution prevention audit engagement is to identify opportunities for minimizing waste, in what order should the following opportunities be considered?
    I. Recycling and reuse.
    II. Elimination at the source.
    III. Energy conservation.
    IV. Recovery as a usable product Treatment.
  • Question 568

    Which of the following is the best approach for obtaining feedback from engagement clients regarding the quality of internal audit work?
  • Question 569

    Which of the following would provide the best audit evidence regarding the effectiveness of an applied research department?
  • Question 570

    While conducting an audit of a third party's Web-based payment processor, an internal auditor discovers that a programming error allows customers to create multiple accounts for a single mailing address. Management agrees to correct the program and notify customers with multiple accounts that the accounts will be consolidated. Which of the following actions should the auditor take?
    1. Schedule a follow-up review to verify that the program was corrected and the accounts were consolidated.
    2. Evaluate the adequacy and effectiveness of the corrective action proposed by management.
    3. Amend the scope of the subsequent audit to verify that the program was corrected and that accounts were consolidated.
    4. Submit management's plan of action to the external auditors for additional review.