Which of the following factors is not likely to affect the level of inherent risk associated with an application system?
Which of the following is an appropriate role for the board in governance?
To promote a positive image within an organization, a chief audit executive (CAE) adjusted the audit plan to focus on assurance engagements that highlighted potential costs to be saved. Negative observations were to be omitted from engagement final communications. Which action taken by the CAE would be considered a violation of the Standards?
I. The focus of the audit function was changed without modifying the audit charter or notifying the audit committee.
II. Negative observations were omitted from the engagement final communications.
III. Cost savings and recommendations were highlighted in the engagement final communications.
Which of the following statements is true with regard to services provided by the internal audit activity?
An investment advisory firm purchased professional liability insurance to offer protection from lawsuits brought by customers claiming they received poor or erroneous advice. Which of the following best describes this risk management technique?
