AUI 3703 ASSIGNMENT 1

1.1 The internal audit activity should be ... 1 risk based. 2 materiality based. 3 variance based. 4 compliance based. 1.2 Which of the following activities are not presumed to impair the objectivity of an internal auditor? 1 Recommending standards of control for a new information system application. 2 Drafting procedures for running a new computer application to ensure that proper controls are installed. 3 Performing reviews of procedures for a new computer application before it is installed. 4 All of the above. 1.3 Assuming that the internal auditing staff possesses the necessary experience and training, which one of the following tasks is the most appropriate for an internal audit staff member to undertake? 1 Substitute for the accounts payable supervisor while they are on sick leave. 2 Determine the profitability of alternative investment acquisitions and select the best option. 3 As part of an evaluation team, review vendor accounting software controls and rank according to exposures. 4 Participate in an internal audit of the accounting department shortly after transferring from the accounting department. This study source was downloaded by from CourseH on :20:54 GMT -05:00 This study