Chapter 11

Chapter 11

Professional Development

16 Qs

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Chapter 11

Chapter 11

Assessment

Quiz

Professional Development

Professional Development

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Nur Mokhlas

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true?

Continuous monitoring is the CAE's responsibility.

If a control breakdown is identified through continuous auditing, it should be reported to management on a timely basis.

Data analytic technologies cannot be used for substantive testing.

Continuous auditing routines developed by internal auditors should not be shared with management

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is/are barriers to widespread use of data analytics by internal audit functions?

I. The scope of the intended use of data analytics is not well defined.

II. The amount of time required to clean and prepare data for analysis.

III. The extensive programing skills required to perform data analytics.

IV. Not understanding the data to be analyzed (its source, context, use, and meaning).

II and III only

I and IV only

I, II, and IV only.

I, II, III, and IV.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not typically a barrier to internal auditors using data analytics in achieving the engagement objective?

Knowing what data exists and where to find it.

Poorly defining the scope of the intended use of data analytics.

Data analytic software is limited by the number of records it can process.

The effort required to cleanse and prepare data for import to the data analytic tool.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the most significant to the internal audit client in providing information related to the future direction and actions that can improve the operation of the organization?

Descriptive.

Diagnostic

Predictive

Prescriptive.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the most significant to the internal audit client in providing information related to the future direction and actions that can improve the operation of the organization?

Descriptive.

Diagnostic

Predictive

Prescriptive.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The primary reason for an internal auditor to use statistical sampling rather than nonstatistical sampling is to:

Allow the auditor to quantify, and therefore control, the risk of making an incorrect decision based on sample evidence.

Obtain a smaller sample than would be required if nonstatistical sampling were used.

Reduce the problems associated with the auditor's judgment concerning the competency of the evidence gathered when nonstatistical sampling is used.

Obtain a sample more representative of the population than would be obtained if nonstatistical sampling techniques were used.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an element of sampling risk as opposed to an element of nonsampling risk?

Determining a sample size that is too small.

Performing an inappropriate audit procedure.

Failing to detect a control deviation.

Forgetting to perform a specified audit procedure.

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