Which of the following is true of engagement recommendations?
1. Specific suggestions for implementation must be included.
2. The internal auditor's observations and conclusions may serve as the basis.
3. Actions to correct existing conditions or improve operations may be included.
4. Approaches to correcting or enhancing performance may be suggested.

While developing a risk based audit plan, which of the following sources of information would provide the least value to the chief audit executive?

Which of the following would be the least important reason for a company to merge with another company?

When conducting research, which of the following is most important?

Which of the following tests must an internal auditor perform in order to ensure that inbound electronic data interchange (EDI) transactions are received and translated accurately?
I. Computerized tests to assess transaction reasonableness and validity.
II. Review of log books to ensure that transactions are logged upon receipt.
III. Edit checks to identify unusual transactions.
IV. Verification of limitations on the authority of users to initiate specific EDI transactions.