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How should internal auditor apply any relevant information

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Reference no: EM132793355

Problem 1: Which of the following statements is true regarding internal control questionnaires (ICQs)?

a. ICQs are most useful in more organic, decentralized organization with specialized departmental or regional characteristics

b. An ICQ can be used effectively either by sending it in advance for management of the area under review to complete or be testing each procedure and recording the results

c. An ICQ is not an efficient tool, as it can only inquire about controls and it does not test them

d. ICQs are also known as checklist audits and encourage management of the area under review to answer "no" or "yes" more accurately

Problem 2: According to IIA guidance, how should an internal auditor apply any relevant information obtained from an internal consulting engagement during a related assurance engagement?

a. Document any facts obtained and include them as part of the audit engagement workpapers

b. Rely upon the information to draw conclusions about the effectiveness of controls

c. Use the knowledge obtained to evaluate the effectiveness of internal control processes

d. Objectivity requires that this information should not be used in any part of the audit engagement

Reference no: EM132793355

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