QUESTION: 65

The internal audit supervisor is reviewing the workpapers prepared by the staff. According to the Standards, which of the following statements regarding workpaper supervision is not true?

Review notes of questions that a rise during the review process must be retained.
Dating and initialing each workpaper provides evidence of review.
Workpaper review allows for staff training and development.
Workpapers may be amended during the review process.

Answer(s): A

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An internal auditor would like to identify the involvement of various organizational units in handling employee travel reimbursement claims. Which of the following methods would be most effective and efficient in completing this task?

Process mapping.
Interviewing.
Monitoring.
Distributing questionnaires.

Answer(s): A

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QUESTION: 67

An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization's mission. Which of the following pieces of evidence would be sufficient for completing this task?

A log from the last year that includes dates of travel, conference titles, and conference objectives, all of which correspond with employee names and costs per trip.
A log that includes titles of conferences that all employees were invited to attend in the last year, along with the dates of those conferences and average costs per traveler.
A log of conferences titles, dates of travel for each employee, and a detailed summary of conference objectives and how they relate to the organization's mission needs.
A log of employee travel requests, which include the title of each conference, the conference objectives, anticipated dates of travel, and estimated costs.

Answer(s): A

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QUESTION: 68

The audit committee is concerned that the small size of the internal audit activity (IAA) makes it impractical to achieve full conformance with the Standards. To address this concern, which of the following actions is most appropriate for the CAE to take?

The CAE should agree with the audit committee and implement only those standards appropriate to the size of the IA
The CAE should request the audit committee to review the Standards to identify specifically which are creating the greatest concern.
The CAE should seek sufficient funding to increase audit resources to meet the minimum requirements of the Standards.
The CAE should explain that conformance with the Standards is essential and not dependent upon the size of the IAA.

Answer(s): D

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QUESTION: 65

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QUESTION: 68