QUESTION: 149

Which of the following lists the audit activities in the order in which they would generally be completed during a preliminary survey?

I). Write detailed audit procedures.
II). Identify client objectives, goals, and standards.
III). Identify risks and controls intended to prevent associated losses.
IV). Determine relevant engagement objectives.

II, I, IV, III.
II, III, IV, I.
III, IV, II, I.
II, IV, I, III.

Answer(s): B

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QUESTION: 150

An audit of the quality control department is being planned. Which of the following would least likely be used in the preparation of a preliminary survey questionnaire?

An analysis of quality control documents.
The permanent audit file.
The prior audit report.
Management's charter for the quality control department.

Answer(s): A

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QUESTION: 151

An objective for an audit of a medical research corporation is to evaluate management's controls to ensure that timely reports are submitted to sponsors of contracted research projects. In planning the audit to achieve this objective, the auditor should begin by

Reviewing policies and procedures.
Interviewing a group of research managers.
Observing report preparation in a number of laboratories.
Sending a questionnaire to a sample of research sponsors.

Answer(s): A

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QUESTION: 152

Which of the following internal control weaknesses would an auditor most likely detect while reviewing a flowchart that depicts the purchasing function of an organization?

Purchasing policies have not been updated.
The organization is not taking advantage of quantity discounts available from its suppliers.
Payments for goods received have not been authorized at the appropriate level.
Payments to suppliers are made before goods are received.

Answer(s): D

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QUESTION: 149

QUESTION: 150

QUESTION: 151

QUESTION: 152

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