Exam 16: Internal Governmental and Fraud Audits

The goal of operational auditing is to help managers discharge their management responsibilities and improve profitability.

The definition of internal audit includes all of the following except

A governmental auditor assigned to audit the financial statements of the state highway department would not be considered independent if the auditor

Which of the following is a requirement of the Standards for the Professional Practice of Internal Audit if the Institute of Internal Auditors (IIA)that is not a requirement of an external auditor performing a financial statement audit?

Independence permits internal auditors to render impartial and unbiased judgments.The best way for internal audit departments to achieve independence is through

The state Department of Education needs to have audits for various reasons.For each reason,indicate the related type of engagement or practice that would most likely be performed.

The standards of the Institute of Internal Auditors (IIA)are grouped under two broad categories.Identify and briefly explain each of the categories.Each category has special standards written for specific types of audits.Identify the two types of special standards for each category

Governmental auditing can extend beyond audits of financial statements to include audits of an agency's efficient and economical use of resources and

Program audits include determining

Which of the following is not an internal audit objective designed to add value to a purchasing department?

An environmental audit might include all of following except

Following are five cases (1-5)that illustrate different types of audit engagements.In the space provided,indicate the type of audit that would be conducted,the specific auditor who might undertake the engagement,and the auditing standards that would probably apply for the engagement.

The services provided by internal auditors do not include

The Government Accountability Office (GAO)describes expanded-scope governmental auditing to include all of the following except

Operational audits do not include determining

When preparing an audit report,an internal auditor must convince management to take action concerning the report's findings.When reporting on an audit finding,an auditor must include some key elements about that finding in the report.These key elements are

When auditors report on a financial audit engagement in accordance with generally accepted government auditing standards (GAGAS),the basic report(s)include a

The Single Audit Act of 1984 replaced duplicative grant-by-grant audits with a single audit report on which all agencies can rely.

Program audits do not include determining