Inadequate risk assessment would have the strongest negative impact in which of the following phases of an audit engagement?

Answer(s): A

In order to exercise due professional care as defined in the International Professional Practices Framework, an internal auditor should:

Consider the probability of significant noncompliance in each audit engagement.
II. Perform assurance procedures with sufficient care to ensure that all risks are identified.
III. Weigh the cost of assurance against the benefits.
I and IIonly
I and IIIonly
II and IIIonly
I,II,and III.

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:

Answer(s): B

Organizations that use a highly structured command-and-control management approach are at greater risk of:

Delayed response due to the inability to reach consensus among decision makers.
Negative consequences that result from lower-level staff's unwillingness to confront errors by superiors.
Erosion of staff morale due to perceptions of ineffective leadership.
Waste and abuse of organizational resources resulting from management override of controls.

Answer(s): B

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