The auditor is least - Study guides, Class notes & Summaries

University of South Africa - AUE2601 - Auditing Theory And Practice EXAM PACK 2024 OCTOBER/NOVEMBER 2024 1.5) Password controls  Passwords should be unique to each individual (group passwords should not be used).  Passwords should consist of at least six characters, be random not obvious, and a mix of letters, numbers, upper/lower case and symbols.  Passwords/user-IDs for terminated or transferred personnel should be removed/disabled at the time of termination or transfer....

what are audit documentations? - Answer-RECORD of procedures performed, relevant evidence obtained and conclusions reached why should assurance providers record their work? - Answer-- assist audit team to plan and perform audit - assist relevant members to direct and supervise work - enable audit team to be accountable (prove adherence to ISA) - retain record of matters to future audits - enable experienced auditor to carry out quality reviews - conduct external inspections in accordance...

TESTBANK FOR Accounting Information Systems Controls and Processes 3e Leslie Turner Andrea Weickgenannt Mary Kay Copeland -1. When a company receives returned goods from a customer, the business process to accept the return would most likely be a(n): A. Administrative process B. Conversion process C. Expenditure process D. Revenue process 2. Which of the following is least likely to be an output of the accounting information system? A. A check B. A report C. An invoice D. A bar code 3...

CQA Exam 174 Questions with Verified Answers A root cause analysis can best be described as a process that is used to - CORRECT ANSWER determine the basic reason for an undesirable condition Which of the following would NOT normally be used as a major category in a cause and effect diagram? - CORRECT ANSWER Modifications Which two of the following conditions must be met in order to infer statistical significance about the results of an audit sample? - CORRECT ANSWER I. The population ...

CISA Study Guide Exam 427 Questions with Verified Answers Most important step in risk analysis is to identify a. Competitors b. controls c. vulnerabilities d. liabilities - CORRECT ANSWER c. vulnerabilities In a risk based audit planning, an IS auditor's first step is to identify: a. responsibilities of stakeholders b. high-risk areas within the organization c. cost centre d. profit centre - CORRECT ANSWER b. high-risk areas within the organization When developing a risk-...

Wiley Exam Questions with 100% Correct Answers 2024 Which of the following is not a primary responsibility of an auditor: - answerProvide management with an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. The phrase "generally accepted accounting principles" is an accounting term that - answerEncompasses the conventions, rules, and procedures necessary to define accepted accounti...

Which of the following is true of audit committees under the provisions of the Sarbanes-Oxley Act of 2002? A. At least two audit committee members must be financial experts and one must be a CPA. B. At least one audit committee member must be a financial expert. C. No financial experts are required if the audit committee can consult with either the auditor or the chief financial officer. D. A majority of the audit committee must consist of financial experts. - B. At least one audit commit...

Fraud Prevention/Detection Questions and Answers with Verified Solutions Internal Auditors detect _____ % of fraud 14 Under the Corporate Sentencing Guidelines, when the offending organization has committed a felony, probation must run for at least one year Internal Auditing Standard 1220 states that internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor THREE levels of responsibility for finding and reporting illegal acts: ...

Quality Auditor Question Bank 80 Questions with Verified Answers A root cause of a nonconformance is defined as a problem that (A) is discovered by conducting designed experiments (B) is established through the use of fishbone diagrams (C) must be reviewed by the material review board (D) must be corrected in order to prevent a recurrence - CORRECT ANSWER D) must be corrected In order to prevent a recurrence When lower-tier documents are compared to higher-tier documents before the f...

Test Bank For Accounting Information Systems Controls and Processes 5e Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland -1. When a company receives returned goods from a customer, the business process to accept the return would most likely be a(n): a. Administrative process b. Conversion process c. Expenditure process *d. Revenue process SO2 2. Which of the following is least likely to be an output of the accounting information system? a. A check b. A report c. An invoice *d. A b...