Question 51
In which of following scenarios is the internal auditor performing benchmarking?
Question 52
While performing a follow-up of a concern about equipment-inventory tracking, which course of action is not necessary for the auditor to take?
Question 53
Which of the following is a justifiable reason for omitting advance client notice when planning an audit engagement?
Question 54
An internal audit activity implemented an integrated test facility to test payroll processing. The auditors identified the key controls and processing steps built into the computer program and developed test data to test them. The auditors submitted test transactions throughout the year and did not find any differences in their test results. The auditors can conclude that:
Question 55
According to IIA guidance, which of the following is true regarding audit supervision?
1.Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.
2.Supervision should extend to training, time reporting, and expense control, as well as administrative matters.
3.Supervision should include review of engagement workpapers, with documented evidence of the review.
1.Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.
2.Supervision should extend to training, time reporting, and expense control, as well as administrative matters.
3.Supervision should include review of engagement workpapers, with documented evidence of the review.
