Exact2Pass
Which of the following documents would provide the best evidence that a purchase transaction has actually occurred?
Which of the following audit procedures would be most effective in determining whether vendor invoices are being processed on a timely basis while maximizing the company's use of cash?
During the audit of inventories, an internal auditor specified a precision of 5% instead of the 4% contained in the preliminary audit program.
What would be the impact of the change in precision?
An internal audit director has noticed that staff auditors are presenting more oral reports to supplement written reports.
The best reason for the increased use of oral reports by the auditors is that they
An organization uses a service bureau to process its hourly payroll transactions. The internal auditor is concerned that the hourly payroll for the year has been processed correctly and, in particular, the computation of employee withholding for pension contributions is in accordance with the union contract, which specifies charges each quarter.
Which of the following audit procedures would best accomplish the audit objective?
Which of the following activities is not included in determining the audit schedule?
Your assurance firm is auditor of Happy Goods. The audit manager has just become engaged to the managing director’s daughter, who he met through a mutual friend. The managing director owns 51% of the shares in Happy Goods. Which of the threat is not there in this case?