1. Final audit reports issued to the management and Audit Committee include all of the following except:

A. Objectives and Scope

B. Audit Programs

C. Audit Recommendations

D. Management Action Plans

2. All the following activities are part of the planning stage of an audit except:

A. Audit scheduling and time estimates

B. Preliminary surveys

C. Determining audit objectives

D. Issuing formal audit report

3. Which of the following statements best describes the responsibility of Internal Audit departments responsibility for follow-up activities related to findings/recommendations in a previous engagement?

A. The CAE should schedule follow-up activities only if directed by management.

B. Internal Audit should determine if the management has taken appropriate action as agreed to and the desired results are being achieved.

C. Internal Audits responsibility is over by including the recommendations and management action plans in the audit report. No further action is needed.

D. Internal Audit has no responsibility at all for follow-up activities related to findings/recommendations in a previous engagement