An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted. Which of the following would best help the organization manage the risk of fraud?

• A.Accounting personnel should regularly perform reconciliation between invoices and purchase orders
• B.internal auditors should review Vie frequency and volume of purchased assets to detect trends in the inventory levels
• C.Management should established a policy requiring new inventory asset purchases to be made on serialized order forms with copies retained
• D.Accounting personnel should conduct a periodic inventory count and reconcile inventory movements

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Which of the following steps would not be included in a program of selecting and developing human resources for an internal audit department?

• A.Establishing an internal review team to assess the auditors' and audit department's compliance with standards, level of audit effectiveness, and compliance with departmental policy.
• B.Establishing in-house training programs and requiring continuing education for audit staff.
• C.Developing specific job descriptions for audit staff, audit managers, and other auditing positions.
• D.Scheduling periodic meetings with individual auditors, during which the chief audit executive provides counsel regarding each auditor's performance and professional career development.

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Which of the following scenarios depicts an appropriate role for the internal audit activity to take regarding an organization's risk management process?

• A.Internal audit sets the organization's risk tolerance and promotes awareness throughout the organization.
• B.Internal audit is responsible for safeguarding the organization's assets and preventing loss from occurring.
• C.Internal audit assesses whether the organization's risk management processes are effective.
• D.Internal audit designs and implements the organization's controls to help manage risk.

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Which aspect of the audit function would be most impacted by a lack of coordination between an organization's internal and external auditors?

• A.Efficiency.
• B.Effectiveness.
• C.Responsiveness.
• D.Timeliness.

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A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?

• A.Performing a chemical analysis of the water,prior to discharge,for components specified in the permit.
• B.Diluting pollutants by flushing sinks and floor drains daily with large volumes of clean water.
• C.Posting signs that tell employees which substances may be disposed of via sinks and floor drains within the facility.
• D.Establishing a preventive maintenance program for the pretreatment system.

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