Qualified Internal Auditor
Last Update Oct 15, 2025
Total Questions : 80
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Why should organizations require auditees to promptly reply and outline the corrective action that has been implemented on reported deficiencies?
Viba, who is audit senior on the in progress audit of Weave plc, has recently placed her CV with a recruitment agent. She has had no feedback from the agent, with whom she has a meeting on Friday. The agency is currently carrying an advert for financial controller at Weave plc, but the advert does not give the company’s name.
This represents:
A company with 14,344 customers determines that the mean and median accounts receivable balances for the year are $15,412 and $10,382, respectively.
From this information, the auditor can conclude that the distribution of the accounts receivable balances is continuous and
The internal audit activity evaluates and contributes to the improvement of risk management, control, and governance systems. Which of the following statements is associated with the improvement of governance?
What evidence is appropriate to determine that recorded purchase transactions were valid and at the best price?
To identify shortages of specific items in an inventory of expensive goods held for retail sale, the most appropriate audit work step is to
An internal auditor found that employees in the maintenance department were not signing their time cards. This situation also existed during the last audit.
The auditor should
The internal auditors of a financial institution are auditing the institution's investing and lending activities. During the last year, the institution has adopted new policies and procedures for monitoring investments and the loan portfolio. The auditors know that the organisation has invested in new types of financial instruments during the year and is heavily involved in the use of financial derivatives to appropriately hedge risks
The audit committee has expressed concern that the financial institution has been taking on higher-risk loans in pursuit of short term profit goals.
Which of the following audit procedures would provide the least amount of information to address this audit concern?
An auditor selected a random sample of 100 items from a population of 2,000 items. The total dollars in the sample were $10,000, and the standard deviation was $10. If the achieved precision based on this sample was plus or minus $4,000, the minimum acceptable value of the population would be
In order for internal auditors to be able to recognize potential fraud, they must be aware of the basic characteristics of fraud. Which of the following is not a characteristic of fraud?
TESTED 15 Oct 2025
