Question 471

The following audit observation was included in the final audit report:
"Our review concluded that bank reconciliation statements for March and April did not show evidence of supervisory review. We recommend strict compliance with the controller's manual, which requires the department head to place their initials on the reconciliation statements to document their review." Which of the following attributes are missing from the above audit observation?
1. Criteria.
2. Condition.
3. Cause.
4. Effect.
  • Question 472

    In a payroll audit, a staff auditor suspects that signatures on some of the documents being sampled for examination are not authentic. What action should the auditor take before proceeding with the examination?
  • Question 473

    According to the International Professional Practices Framework, the responsibility for establishing and maintaining a system to monitor the disposition of results communicated
    to management falls upon:
  • Question 474

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    Which of the following should be included in the scope of an audit of a third-party contractor?
    Budgets and financial forecasts for the project.
    Contractor's information and control systems.
    Contractor's financial position.
    Progress of the project and costs incurred.
  • Question 475

    An internal auditor conducted interviews with several employees, documented the interviews analyzed the summaries, and drew a number of conclusions. What sort of audit evidence has the internal auditor primarily obtained?