Reference no: EM133227949

For each of the following descriptions, indicate which type of audit (financial statement audit, audit of internal control, compliance audit, operational audit, or fraud audit) best characterizes the nature of the audit being conducted. Also indicate which type of auditor (external auditor, internal auditor, government auditor, or fraud auditor) is likely to perform the audit engagement. If more than one type of auditor might perform the audit engagement, include every appropriate type of auditor in your answer.

• Evaluate the policies and procedures of the Food and Drug Administration in terms of bringing new drugs to market.
• Determine the fair presentation of Ajax Chemical's balance sheet, income statement, and statement of cash flows.
• Review the payment procedures of the accounts payable department for a large manufacturer.
• Examine the financial records of a division of a corporation to determine if any accounting irregularities have occurred. 
• Evaluate whether funds for a low-income public housing project are being used in an efficient manner by the project manager in maintaining and upgrading the property.
• Evaluate a company's computer services department in terms of the efficient and effective use of corporate resources.
• Audit the partnership tax return of a real estate development company.
  Investigate the possibility of payroll fraud in a labor union pension fund.