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I. True or False 1. Audit Reports are presented to the shareholders in Annual shareholder meeting. A. True B. False 2. Adequate advance planning and preparatory work can lead to significant savings in time and effort during an internal audit engagement. A. True B. False 3. It is not appropriate for internal auditors to note auditee accomplishments in audit reports. A. True B. False 4. An internal audit report can include an assertion that the audit was 'conducted in conformance with the International Standards for the Professional Practice of Internal Auditing' only when all the internal auditors engaged on the assignment have the CIA certification. A. True B. False 5. Auditor skills should be considered in selecting personnel for an internal audit project assignment. A. True B. False 6. Monetary Sampling is a type of judgmental sampling. A. True B. False 7. The auditor must plan and perform audit procedures to obtain sufficient appropriate audit evidence to provide an absolute basis for his or her opinion. A. True B. False 8. Discovery Sampling is a sampling method that requires that no additional samples be tested once the first error is found. A. True B. False 9. 'Assessing Control Risk' is one of the audit procedures used for obtaining audit evidence A. True B. False 10. 'CAATTs' refers to Computer Accounting and Auditing Technology Tools. A. True B. False