Internal Auditing and Systems Controls Paper 5

1

Internal auditors are responsible for reporting fraud to senior management and the board when






2

An internal auditor is interviewing three individuals, one of whom is suspected of committing a fraud. Which of the following is the least effective interviewing approach?






3

The objectives of a functional audit could involve evaluating the company’s






4

The primary difference between operational engagements and financial engagements is that, in the former, the internal auditors






5

The chief executive officer wants to know whether the purchasing function is properly meeting its charge to “purchase the right materials at the right time in the right quantities.” Which of the following types of engagements addresses this request?






6

During an operational engagement, the internal auditors compare the current staffing of a department with established industry standards to






7

An operational engagement relating to the production function includes a procedure to compare actual costs with standard costs. The purpose of this engagement procedure is to






8

A determination of cost saving is most likely to be an objective of a(n)






9

During an operational audit, an auditor compares the inventory turnover rate of a subsidiary with established industry standards in order to






10

An operational audit report that deals with the scrap disposal function in a manufacturing company should address






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