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Free CIA Exam Braindumps (page: 42)

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Auditors 1, 2, and 3 work out of various offices. Each must be assigned to one, and only one, of three audit locations (A, B, or C). The cost of sending each auditor to each location is listed below Audit Locations Auditor 1 Auditor 2 Auditor 3 A $200 $400 $200 B $300 $300 $200 C $400 $600 $500 The minimum cost with which this assignment can be accomplished is

  1. $800
  2. $900
  3. $1,000
  4. $1,100

Answer(s): B



In developing an appropriate work program for an audit engagement, the most important factor for an audit supervisor to consider is the

  1. Availability of records and data.
  2. Potential impact of risks.
  3. Capabilities of audit personnel.
  4. Time required to complete the engagement.

Answer(s): B



Which of the following would an internal auditor consider when developing engagement objectives?

I). Estimated time to complete the engagement.
II). Probability of significant errors.
III). Risks, controls, and governance processes.
IV). Budgeted cost and resource requirements.

  1. II only.
  2. I and IV only.
  3. I and III only.
  4. I, III, and IV only.

Answer(s): C



Coordination between the internal auditors and the external auditors tends to

  1. Increase risks due to potential communication issues arising from internal auditors' allegiance to the company.
  2. Decrease risks due to the internal auditors' knowledge of the company and industry.
  3. Increase risks due to differing views on the nature and adequacy of internal controls.
  4. Decrease risks by using internal auditors to perform low-level external audit testing.

Answer(s): B






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