QUESTION: 285

According to IIA guidance, which of the following factors should the auditor in charge consider when determining the resource requirements for an audit engagement?

The number, experience, and availability of audit staff as well as the nature, complexity, and time constraints of the engagement.
The appropriateness and sufficiency of resources and the ability to coordinate with external auditors.
The number, proficiency, experience, and availability of audit staff as well as the ability to coordinate with external auditors.
The appropriateness and sufficiency of resources as well as the nature, complexity, and time constraints of the engagement.

Answer(s): D

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QUESTION: 286

According to IIA guidance, which of the following is least likely to be a key financial control in an organization's accounts payable process?

Require the approval of additions and changes to the vendor master listing, where the inherent risk of false vendors is high.
Monitor amounts paid each period and compare them to the budget to identify potential issues.
Compare employee addresses to vendor addresses to identify potential employee fraud.
Monitor customer quality complaints compared to the prior period to identify vendor issues.

Answer(s): D

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QUESTION: 287

Which of the following is an appropriate role for the internal audit activity with regard to the organization's risk management program?

Identify and manage risks in line with the organization's risk appetite.
Ensure that a proper and effective risk management process exists.
Attain an adequate understanding of the organization's key risk mitigation strategies.
Identify and ensure that appropriate controls exist to mitigate risks.

Answer(s): C

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