Question 1 (1 point)

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Which of the following is NOT a step in audit interviewing?

Question 1 options:

	Scheduling
	Repeating
	Opening
	Planning

Question 2 (1 point)

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Appropriate evidence means that:

Question 2 options:

	The evidence collected is from the time frame appropriate to the audit
	The evidence collected supports the observations and recommendations
	The evidence is of a sufficient quantity to draw conclusions.
	The evidence collected is recent.

Question 3 (1 point)

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Which of the following statements best describes a fraud risk assessment?

Question 3 options:

	It supports a disciplinary process for those who violate anti-fraud policies.
	It helps identify areas that pose a high risk of fraud.
	It facilitates fraud investigation protocols.
	It strengthens controls to mitigate the risk of recurrence.

Question 4 (1 point)

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What is the Expert Barrier?

Question 4 options:

	The auditee claims that their area is so unique, nothing can be improved on
	The auditee claims that nothing is wrong because theyve always done it this way
	The auditee claims we dont have the expertise to properly audit their area
	The auditee claims that it isnt a good time for us to audit their area

Question 5 (1 point)

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In order for the auditors report to persuade management to take corrective action, it must among other things, be objective. Which of the following statements indicates that the auditors report is objective?

Question 5 options:

	The report is factual
	The report is free of unnecessary technical language
	The report is logical.
	The report is easily understood.

Question 6 (1 point)

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Workpaper summaries, if prepared, can be used to:

Question 6 options:

	Replace the detailed workpaper files for permanent retention.
	Serve as an engagement final communication to senior management.
	promote efficient workpaper review by internal audit supervisors
	Document the full development of engagement observations and recommendations.

Question 7 (1 point)

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Which of the following are NOT part of the audit file?

Question 7 options:

	Reasons for performing specific audit procedures
	Photocopies of every audit evidence obtained
	Draft copies of internal audit reports
	Copies of audit programs

Question 8 (1 point)

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Financial statement manipulation can be reduced by all the following except:

Question 8 options:

	Ensuring that staff have experience, training and expertise
	Setting realistic targets for performance measurement
	Preventing staff from attending training on fraud schemes
	Adequate supervision by the audit committee and the board of directors

Question 9 (1 point)

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Which of the following is NOT an example of technological risk in an IT environment?

Question 9 options:

	Poor internal control system in the organization
	Failure to keep knowledge up-to-date
	Failure of technology itself
	Reliance on obsolete technology

Question 10 (1 point)

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Which of the following situations decreases the risk of fraud?

Question 10 options:

	Large volume of cash transactions
	Staff not taking vacation
	Lack of segregation of duties
	Specific and well documented procedure manuals