some of these answers to multiple choice question are incorrect need help to provide the correct answers:

Question 212 pts

Recommendations should be included in final audit communication to:

a. Provide management with options for addressing audit observations

b. Ensure that problems are resolved in the manner suggest by the auditor

c. Minimize the amount of time required to correct audit observations.

d. Guarantee that audit observations are addressed.

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Question 222 pts

The primary reason for having formal audit engagement communications is to

a. Provide an opportunity for the engagement client to respond

b. Document the corrective actions required of management.

c. Provide a formal means by which the external auditor assesses potential reliance on internal auditors work

d. Record observations and recommended courses of actions

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Question 232 pts

Which of the following is not considered part of a company's "Monitoring"activities (as defined by COSO)?

I. Regluar management & supervisory activities.

II. Comparison activities.

III. Fraud prevention & detection activities.

IV. Management self-control assessment

a. Only iV is not a part of monitoring activities.

b. Only I and III are not a part of monitoring activities.

c. Only II is not part of moiitoring activities.

d. None of the above (all listed activities are part of monitoring)

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Question 242 pts

Which of the following is the least accurate regarding risk management?

a. Should consider impact and likelihood to determine critical risks

b. Is a fairly subjective process requiring sound judgment

c. Are typically not formally performed by operations management

d. Requires consideration of inherent risk factors and risk control analysis.

e. Residual risk is what remains of inherent risks after internal controls are put in place

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Question 252 pts

Evaluation of ICFR includes which of the following financial reporting assertions (objectives):

I. Occurrence

II. Safeguarding

III Completeness

IV. Valuation

a. Only I, II and III are relevant

b. Only I, III and IV are relevant

c. Only II, III and IV are relevant

d. All of the above

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Question 262 pts

A major purpose of the International Standards for the Professional Practice of Internal Auditing is to:

a. Promote the coordination of internal and external audit efforts

b. Develop a consistency in internal audit practices.

c. Establish a basis for the evaluation of internal audit performance

d. Provide a codification of existing practices

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Question 272 pts

Appropriate internal control for a multinational corporations branch office that has a department responsible for the transfer of money requires that:

a. The individual who initiates wire transfers does not reconcile the bank statement.

b. The branch manager receives all wire transfers.

c. Foreign currency rates be computed separately by two different employees

d. Corporate management approves the hiring of monetary transfer unit employees.

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Question 282 pts

If all other factors specified in an attribute sampling plan remain constant, changing the expected population deviation rate from 1% to 2% and changing the tolerable deviation rate from 7% to 6% would cause the required sample to;

a. Increase

b. Decrease

c. Remain the same

d. Change by 2%

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Question 291 pts

The New York Stock Exahange does not requires listed companies to have an internal auditing function.

True

False

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Question 301 pts

Sarbanes Oxley Act requires listed companies to disclose whether it has a financial expert on its audit committee

True

False

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Question 311 pts

The IIAs Professional Practices Framework requires the CAE to periodically report to senior management and the board of directors on internal audits activities.

True

False

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Question 321 pts

In audits of a business process, there is little value in testing the operating effectiveness of controls that are inadeuately designed

True

False