The main reason to establish internal controls in an organization is to:

• A.Ensure the accuracy, reliability, and timeliness of information.
• B.Provide reasonable assurance on the achievement of objectives.
• C.Encourage compliance with policies and procedures.
• D.Safeguard the resources of the organization.

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The chief audit executive's responsibility regarding control processes includes:

• A.Maintaining the organization's governance processes.
• B.Assisting senior management and the audit committee in the development of an annual assessment about internal control.
• C.Overseeing the establishment of internal control processes.
• D.Ensuring that the internal audit activity assesses all control processes annually.

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An organization has implemented a software system that requires a supervisor to approve transactions that would cause treasury dealers to exceed their authorized limit. This is an example of which of the following types of controls?

• A.Detective controls.
• B.Preventive controls.
• C.Directive controls.
• D.Soft controls.

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Performing a monthly analysis of potential duplicate invoices paid to suppliers is an example of which type of fraud control?

• A.Preventive control.
• B.Detective control.
• C.Proactive control.
• D.Corrective control.

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In order to effectively handle conflict between audit team members, an audit team leader should:

• A.Avoid addressing the conflict until the leader is sure that there is a problem.
• B.Be assertive and keep the team members focused on a resolution.
• C.Ask one of the team members to resolve the issue by being more conciliatory.
• D.Transfer one of the team members to another assignment.

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