5. A staff internal auditor opens the clients Aging of Receivables schedule to organize the information, eliminate any duplicates, and ensure that data fields are consistent.

This is an example of which step of the Data Analytics Process? A Obtain the Data B Clean/normalize the Data C Analyze the Data (D Communicate Results

6. Which is not a reason to perform an assurance engagement? Due to assessment of inherent risks B Part of compliance requirement (c) Changes in staffing in the sales team (D A unique event, such as a natural disaster

Question 7 A formal engagement communication must: A Provide an opportunity for the auditee to respond. B Document the corrective actions required of senior management. 2

Points C D Provide a formal means by which the independent outside auditor assesses potential reliance on the internal audit function. Report significant observations.

Question 8 Which is not one of the phases in an internal audit assurance engagement? (A) Plan (B. Assess Communicate Perform

Question 9 The primary purpose of issuing an interim report during an internal audit is to: A) Provide audit management the opportunity to act on certain observations immediately. B Set the stage for the final report. C Promptly inform auditee management and their supervisors of audit procedures performed to date.

Describe the scope of the audit.

Question10

When an internal auditor uses monetary-unit statistical sampling to examine the total value of invoices, each invoice: A Has an equal probability of being selected. B Can be represented by no more than one monetary unit. Has an unknown probability of being selected. D Has a probability proportional to its monetary value of being selected