1.Professional skepticism means that internal auditors beginning an assurance engagement should:

C-Neither assume client personnel are honest nor assume they are dishonest

2.Which of the following statements regarding audit evidence would be the lease appropriate for an internal auditor to make?

B-"I do not perform procedures that provide persuasive evidence because I must obtain convincing evidence."

3.Audit evidence is generally considered sufficient when:

B-There is enough of it to support well-founded conclusions

4.Documentary evidence is one of the principal types of corroborating information used by an internal auditor. Which of the following examples of documentary evidence generally is considered the most reliable?

A-A vendor's invoice obtained from the accounts payable department

6.Which of the following is the least reasonable explanation for the changes observed by the auditor?

C-Sales returned for the credit were overstated in years 2 and 3

7.Which of the following procedures is most appropriate?

A-Vouch purchase orders to approved purchase requisitions

8.Which of the following procedures would most likely detect this fraud?

C-Perform ratio and trend analysis.

9.Which of the following applications of generalized audit software would be most effective in addressing the auditor's concern?

C-List all major vendors by product line.

10.which of the following most completely describes the appropriate content of internal audit assurance engagement working papers?

C-Objectives, procedures, facts, conclusions and recommendations

Help

Options

focusNode

Didn't know it?
click below

Knew it?
click below

Don't Know

Remaining cards (0)

Know

retry

shuffle

restart

0:00

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

465

10

Question	Answer
1.Professional skepticism means that internal auditors beginning an assurance engagement should:	C-Neither assume client personnel are honest nor assume they are dishonest
2.Which of the following statements regarding audit evidence would be the lease appropriate for an internal auditor to make?	B-"I do not perform procedures that provide persuasive evidence because I must obtain convincing evidence."
3.Audit evidence is generally considered sufficient when:	B-There is enough of it to support well-founded conclusions
4.Documentary evidence is one of the principal types of corroborating information used by an internal auditor. Which of the following examples of documentary evidence generally is considered the most reliable?	A-A vendor's invoice obtained from the accounts payable department
5.Which of the following statements regarding observation as an audit procedure is/are correct?	C-I and II
6.Which of the following is the least reasonable explanation for the changes observed by the auditor?	C-Sales returned for the credit were overstated in years 2 and 3
7.Which of the following procedures is most appropriate?	A-Vouch purchase orders to approved purchase requisitions
8.Which of the following procedures would most likely detect this fraud?	C-Perform ratio and trend analysis.
9.Which of the following applications of generalized audit software would be most effective in addressing the auditor's concern?	C-List all major vendors by product line.
10.which of the following most completely describes the appropriate content of internal audit assurance engagement working papers?	C-Objectives, procedures, facts, conclusions and recommendations

Created by: jfraed

"Know" box contains:
Time elapsed:
Retries: