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Certified Internal Auditor Exam Questions 426–430 (page: 87)

During an audit, an internal auditor notes that the following situations exist Unusual profitability compared to other companies in the same industry. Highly complex transactions close to the end of the period. Significant sales to entities whose substance and ownership are not known. Unusual growth in the number of days sales in receivables.
These situations indicate what type of fraud?

By using an appropriate method of selecting sample items from the population, an auditor

Which of the following would be the appropriate analytical approach when comparing the number of employees working at a factory site with the direct cost of production each month over a period of one year?

Observation is most effective in addressing which of the following management assertions?

Which of the following issues could be identified through observation without corroborative evidence?

I). Indicators of security or safety violations.
II). Significant production output differences during the previous year.
III). A backlog indicated by large amounts of unprocessed paperwork.
IV). Workflow procedures that are not logical and may unnecessarily add work to the process.