Exam 16: Internal Audits, Governmental Audits, and Fraud Examinations

Although internal auditors are associated with their employers in the eyes of the public,they seek ____________________ and ____________________ independence. Question also found in study guide

Which of the following would be considered in determining whether an internal audit department is independent?

The demand for compliance auditing in generally accepted government auditing standards (GAGAS)terms is generated by

A stated objective of internal auditing is to add value to the organization.

Having an audit charter is important for internal audit departments.Which of the following items is generally not a reason to have an audit charter?

In a single audit of federal financial assistance programs,which of the following does the auditor not need to determine and report for each organization?

The IIA Performance Standards do not include the standard for

The purpose of the internal audit's evaluation of the effectiveness of existing risk management processes is to determine that

Benford's Law is used to

Internal auditors perform audits and consulting engagements.

External auditors accepting engagements to audit federal grants and programs must follow both GAAS and the GAO standards. Question also found in study guide

The purpose of the internal audit's evaluation of the effectiveness of existing risk management processes is to determine that

When considering the competence of internal auditors,external auditors should obtain evidence about the

In a fraud investigation,the first objective is

Program audits do not include determining

Operational audits do not include determining

The Single Audit Act of 1984 requires the auditors of the financial statements to include a paragraph in the audit report on the appropriate spending of money received through government grants.

Performance audits determine whether an entity's program has resulted in the desired outcomes.

The definition of internal audit includes all of the following except

Auditors are concerned about internal control strengths and weaknesses; fraud investigators are mostly concerned about fraud weaknesses. Question also found in study guide