An internal auditor is using data analytics to focus on high-risk areas during an engagement. The auditor has obtained data and is working to eliminate redundancies in the data. Which of the following statements is true regarding this scenario?

• A.The auditor is cleaning the data in preparation for determining which processes may be involved.
• B.The auditor is reviewing the data prior to defining the question.
• C.The auditor is analyzing the data in preparation for communicating the results.
• D.The auditor is normalizing data in preparation for analyzing it.

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Which of the following issues would be of most concern to an auditor relating to an organization's Internet security policy?

• A.Auditor documentation.
• B.System efficiency.
• C.Data integrity.
• D.Rejected and suspense item controls.

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How do data analysis technologies affect internal audit testing?

• A.They increase the internal auditor's objectivity
• B.They allow greater insight into high risk areas.
• C.They improve the effectiveness of spot check testing techniques
• D.They reduce the overall scope of the audit engagement.

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Which of the following statements is true regarding the roles and responsibilities associated with a corporate social responsibility (CSR) program?

• A.The board has overall responsibility for the internal control processes associated with the CSR program.
• B.Management has overall responsibility for the effectiveness of governance, risk management, and internal control processes associated with the CSR program.
• C.The internal audit activity is responsible for ensuring that CSR principles are integrated into the organization's policies and procedures.
• D.Every employee has a responsibility for ensuring the success of the organization's CSR objectives.

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In a diluted earnings-per-share computation, outstanding options issued by the reporting entity are assumed to be exercised. If the exercise price of these options exceeds the average market price, the computation would:

• A.Fairly present diluted earnings per share on a prospective basis.
• B.Fairly present the maximum potential dilution of diluted earnings per share on a prospective basis.
• C.Reflect the excess of the number of shares assumed issued at the average market price over the number of shares assumed issued at the exercise price.
• D.Be anti dilutive.

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