1 auditing involves the a collection review and documentation of audit evidence b pl 4306062

1 auditing involves the a collection review and documentation of audit evidence b pl 4306062

1) Auditing involves the

A) collection, review, and documentation of audit evidence.

B) planning and verification of economic events.

C) collection of audit evidence and approval of economic events.

D) testing, documentation, and certification of audit evidence.

2) What is not a typical responsibility of an internal auditor?

A) helping management to improve organizational effectiveness

B) assisting in the design and implementation of an AIS

C) preparation of the company's financial statements

D) implementing and monitoring of internal controls

3) Which type of work listed below is not typical of internal auditors?

A) operational and management audits

B) information system audits

C) financial statement audit

D) financial audit of accounting records

4) The ________ audit examines the reliability and integrity of accounting records.

A) financial

B) informational

C) information systems

D) operational

5) The ________ audit reviews the general and application controls of an AIS to assess its compliance with internal control policies and procedures and its effectiveness in safeguarding assets.

A) financial

B) information systems

C) management

D) internal control

6) One type of audit that is concerned with the economical and efficient use of resources and the accomplishment of established goals and objectives is known as a(n) ________ audit.

A) financial

B) information systems

C) internal control

D) operational or management

7) The ________ audit is concerned with the economical and efficient use of resources and the accomplishment of established goals and objectives.

A) financial

B) informational

C) information systems

D) operational

8) The purpose of ________ is to determine why, how, when, and who will perform the audit.

A) audit planning

B) the collection of audit evidence

C) the communication of audit results

D) the evaluation of audit evidence

9) Organizing the audit team and the physical examination of assets are components of which two separate audit stages?

A) planning; evaluating audit evidence

B) planning; collecting audit evidence

C) collecting audit evidence; communicating audit results

D) communicating audit results; evaluating audit evidence

10) With which stage in the auditing process are the consideration of risk factors and materiality most associated?

A) audit planning

B) collection of audit evidence

C) communication of audit results

D) evaluation of audit evidence

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