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.

Risk assessments can vary in format, but generally include:
1. A description of identified risks.
2. Tests of audit controls.
3. A system of rating risks.
4. Sample size identification.

Information gathered in a forensic investigation of business fraud is usually gathered with which of the following standards in mind?

According to MA guidance, which of the following factors should an internal auditor consider when assessing the likelihood of fraud risk1?

After becoming aware of control weaknesses indicating that a fraud could have been committed, which of the following actions should an internal auditor take next?