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NEW QUESTION 47
According to IIA guidance, which of the following best demonstrates that the chief audit executive is properly reporting the results of the quality assurance and improvement program to senior management and the board?

A. Giving copies of both external and internal assessments to the board.B. Keeping files of reports of ongoing external assessment monitoring.C. Providing a written conformance statement to both senior management and the board.D. Retaining copies of board meeting minutes showing that discussions of assessments took place.

Answer: D

 

NEW QUESTION 48
Prior to commencing a financial compliance engagement, the engagement supervisor reads the business plan for the finance department and meets informally with the director to learn more about any key issues. Which of the following competencies is the engagement supervisor demonstrating?

A. The ability to communicate effectivelyB. The ability to understand the needs of stakeholdersC. The ability to inspire trustD. The ability to display courage

Answer: A

 

NEW QUESTION 49
If earnings on financial statements for internal use only have been manipulated in the past, an internal auditor is likely to focus on which of the following?

A. The proper accrual of payables at the end of the interim period.B. Whether accounting estimates are reasonable given past actual results.C. The timing of revenue recognition and the valuation of inventories.D. Whether there have been changes in accounting principles that materially affect the financial statements.

Answer: C

 

NEW QUESTION 50
-- --
Which of the following controls within a spreadsheet would address the risk of logic errors?
The spreadsheet contains formulas that foot and cross-foot data.
The spreadsheet is locked to protect cell formulas from being inadvertently
changed.
Spreadsheets are included in nightly backup processes.
Check-in and check-out software is used to manage version control.

A. 2 and 4 only.B. 3 and 4 only.C. 1 and 3 only.D. 1 and 2 only.

Answer: D

 

NEW QUESTION 51
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