Given the scarcity of internal audit resources, a chief audit executive (CAE) decided not to schedule a follow-up of audit recommendations when developing engagement work schedules. Does the CAEs decision violate the Standards?
Which of the following audit steps would be most effective to review proper recording of and accountability over physical assets?I. Physically inspect all assets on the organization's property.II. Select a sample department and physically inspect assets in the department.III. Select a sample from the organization's records of physical assets and physically locate each asset.IV. Identify assets at a sample of locations and trace to the organization's records.
The most common motivation for management fraud is the existence of:
Questions used to interrogate individuals suspected of fraud should:
An auditor for a major retail company suspects that inventory fraud is occurring at three stores which have high costs of goods sold. Which of the following audit activities would provide the most persuasive evidence that fraud is occurring?
Which of the following is the most appropriate step for the chief audit executive to take in order to avoid defamation of character of the principal suspect in a fraud investigation?
