QUESTION: 237

Which of the following actions are appropriate for the chief audit executive to perform when identifying audit resource requirements?
1. Consider employees from other operational areas as audit resources, to provide additional audit coverage in the organization.
2. Approach an external service provider to conduct internal audits on certain areas of the organization, due to a lack of skills in the organization.
3. Suggest to the audit committee that an audit of technology be deferred until staff can be trained, due to limited IT audit skills among the audit staff.
4. Communicate to senior management a summary report on the status and adequacy of audit resources.

1 and 3 only
2 and 4 only
1, 2, and 4
2, 3, and 4

Answer(s): C

Reveal Solution Next Question

QUESTION: 238

The chief risk officer (CRO) of a large manufacturing organization decided to facilitate a workshop for process managers and staff to identify opportunities for improving productivity and reducing defects.
Which of the following is the most likely reason the CRO chose the workshop approach?

It minimizes the amount of time spent and cost incurred to gather the necessary information.
Responses can be confidential, thus encouraging participants to be candid expressing their concerns.
Workshops do not require extensive facilitation skills and are therefore ideal for nonauditors.
Workshop participants have an opportunity to learn while contributing ideas toward the objectives.

Answer(s): D

Reveal Solution Next Question

QUESTION: 239

Which of the following is the primary purpose of financial statement audit engagements?

To assess the efficiency and effectiveness of the accounting department.
To evaluate organizational and departmental structures, including assessments of process flows related to financial matters.
To provide a review of routine financial reports, including analyses of selected accounts for compliance with generally accepted accounting principles.
To provide an analysis of business process controls in the accounting department, including tests of compliance with internal policies and procedures.

Answer(s): C

Reveal Solution Next Question

QUESTION: 240

An internal auditor notes that employees continue to violate segregation-of-duty controls in several areas of the finance department, despite previous audit recommendations.
Which of the following recommendations is the most appropriate to address this concern?

Recommend additional segregation-of-duty reviews.
Recommend appropriate awareness training for all finance department staff.
Recommend rotating finance staff in this area.
Recommend that management address these concerns immediately.

Answer(s): B

Reveal Solution Next Question

Free IIA-ACCA Exam Braindumps (page: 60)

QUESTION: 237

QUESTION: 238

QUESTION: 239

QUESTION: 240