A small not-for-profit organization with limited resources is unable to adequately maintain appropriate segregation of duties. Considering the organization's resource constraints, which type of controls would best mitigate segregation of duty risks?
Which of the following statements is true about visual observation during an audit engagement?
1.Visual observations should not be documented as the facts have not been substantiated.
2.Complex conditions observed should be verified prior to communicating observations to management.
3.Visual observations can be used to detect ineffective controls,idle resources,and safety hazards.
4.Visual observation can be used during both preliminary survey and fieldwork stages of the audit engagement.
Which of the following would be an appropriate outcome of a quality assurance and improvement program in an internal audit activity?
1. Modification of resources.
2. Corrections to procedures.
3. Changes in processes.
4. Implementation of new technology.
An internal auditor observed that sales staff are able to modify or cancel an order in the system prior to shipping* She wonders whether they can also modify orders after shipping. Which of the following types of controls should she examine?
Risk assessments can vary in format,but generallyinclude.
I.A description of identified risks. II.Tests of audit controls.
III.A
system of rating risks. IV.Sample size identification.
