term1 Definition1term2 Definition2term3 Definition3
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During which phase of the engagement does the internal auditor identify the objectives and related controls of the activity being examined?
Preliminary survey
What is a preliminary survey good for?
to become familiar with activities, risks and controls
What are the 6 components of a preliminary survey?
1) engagement client input
2) analytical procedures
3) interviews
4) prior audit reports
5) process mappings
6) checklists
What is an analytical procedure assessment based on?
on the comparison of procedure results with auditor's expectations
What are the two types of a questionnaire?
1) internal control questionnaire
2) pre-interview questionnaire
What should questionnaires help with regard to internal controls?
to evaluate their effectiveness
Are only yes/no type of questions possible in a questionnaire?
no, every kind of type of questions
What are the disadvantages of a questionnaire?(2)
- it is not a sufficient means of understanding the entire system of internal controls
- it is inflexible so it is not easily adapted to unique situations
Which only answers of a questionnairen should be clarified with written remarks and explanations?
the inappropriate answers
What are the four types of an interview?
1) preliminary interview
2) fact-gathering interview
3) follow-up interview
4) exit interview
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