Which of the following reputations of internal auditing is a perception problem?
Which of the following reputations of internal auditing is a perception problem?
Lack of communication skills
Internal police
Too independent
Very objective
Homework Answers
Answer: C too independent
Reason:The importance of the internal audit function depends upon the independence of the internal auditors in carrying out their work. The value of internal audit report depends upon the degree to which auditor has been independent.
Add Answer to:
Which of the following reputations of internal auditing is a perception problem?
DQ1. According to the Institute of Internal Auditors, 'Internal auditing is an independent, objective assurance and...
DQ1. According to the Institute of Internal Auditors, 'Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.! Using this definition, explain what you understand by Internal Auditing. You should discuss various terms in the definition and explain what you understand.
Principles of auditing ch 8 Internal Controls QUESTION 10 Which of the following elements is not...
Principles of auditing
ch 8 Internal Controls
QUESTION 10 Which of the following elements is not a part of an entity's internal controls? A. Information and communication systems support. B. Control risk. C. Control activities. D. The control environment. QUESTION 11 Which of the following is the correct order for performing the procedures noted? A. Perform substantive tests, test controls, understand the system of internal control. B. Test controls, understand the system of internal control, perform substantive tests. C. Test...
Which of the following is a barrier to communication? Select one: a. Perception differences. b. Economic differences. c....
Which of the following is a barrier to communication? Select one: a. Perception differences. b. Economic differences. c. Information overload d. A and C are correct.
19 Answer saved Marked out of 1.00 Flag question Internal auditing reviews a new acquisition and...
19 Answer saved Marked out of 1.00 Flag question Internal auditing reviews a new acquisition and flags a few problems with operations. Eventually, a new financial controller discovers the company is being defrauded a significant amount of money in the acquired operation. Senior executives blame internal auditing. Which of the following statements apply to fraud detection in this situation? I. Primary responsibility rests with management II. Internal auditing assumed primary responsibility in conducting the review. III. External auditors signed off...
Which one of the following is not a major difference between operational and financial auditing? inclusion...
Which one of the following is not a major difference between operational and financial auditing? inclusion of nonfinancial areas testing the effectiveness of internal controls distribution of the report purpose of the audit
12. The fund internal auditors represent the interests of the organization and external auditors represent outsiders amental difference between internal and external auditing is that: b. internal...
12. The fund internal auditors represent the interests of the organization and external auditors represent outsiders amental difference between internal and external auditing is that: b. internal auditors perform IT audits and external auditors perform financial statement audits c internal auditors focus on financial statement audits and external auditors focus on operational audits and financial statement audits d. external a. auditors assist internal auditors but internal auditors cannot assist external auditors 13. Which of the following is not an objective...
Auditing Which of the following services, if any, may an accountant who is not independent provide?...
Auditing Which of the following services, if any, may an accountant who is not independent provide? A. Preparations and compilation but not reviews. B. Reviews but not preparations C. Both compilations and reviews D. No services
auditing
The Green N Clean Recycling Services (GCRS) receives cash payment for services, fees and recycled products. Cash is defined as payments made in liquid cash by debit or credit cards, and by cheques. Five GCRS are located within the state which covers many hundreds of kilometers, the largest of which also acts as the headquarters. The sites have the following controls in place to assure proper cash receipt, handling, depositing and recording.i. Payments are deposited within 24 hoursii. Payments are...
Which of the following is considered sensation and which are perception. 2 of these are incorrect...
Which of the following is considered sensation and which are perception. 2 of these are incorrect Sensation A bite of the fruit tastes sweet and acidic. Sensation Ouch! That sandpaper is rough. Sensation "Your song" is playing in the grocery store. Sensation Suddenly you notice a sharp and acrid smell. Perception You can tell your co-worker has walked by when you smell his cologne. Perception Isn't that Bob from the office coming out of that store? Perception Tasting potato-leek soup...
Can you answer these questions? Thank you 47. a. ooo In the auditing environment, failure to...
Can you answer these questions? Thank you
47. a. ooo In the auditing environment, failure to meet auditing standards is often: an accepted practice. b. a suggestion of negligence. conclusive evidence of negligence. d. tantamount to criminal behavior. 48. Which of the following most accurately describes constructive fraud? a. Absence of reasonable care. b. Lack of slight care. c. Knowledge and intent to deceive. d. Extreme or unusual negligence without the intent to deceive. 49. “Privileged communication” between client and...
DQ1. According to the Institute of Internal Auditors, 'Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.! Using this definition, explain what you understand by Internal Auditing. You should discuss various terms in the definition and explain what you understand.
Principles of auditing
ch 8 Internal Controls
QUESTION 10 Which of the following elements is not a part of an entity's internal controls? A. Information and communication systems support. B. Control risk. C. Control activities. D. The control environment. QUESTION 11 Which of the following is the correct order for performing the procedures noted? A. Perform substantive tests, test controls, understand the system of internal control. B. Test controls, understand the system of internal control, perform substantive tests. C. Test...
19 Answer saved Marked out of 1.00 Flag question Internal auditing reviews a new acquisition and flags a few problems with operations. Eventually, a new financial controller discovers the company is being defrauded a significant amount of money in the acquired operation. Senior executives blame internal auditing. Which of the following statements apply to fraud detection in this situation? I. Primary responsibility rests with management II. Internal auditing assumed primary responsibility in conducting the review. III. External auditors signed off...
12. The fund internal auditors represent the interests of the organization and external auditors represent outsiders amental difference between internal and external auditing is that: b. internal auditors perform IT audits and external auditors perform financial statement audits c internal auditors focus on financial statement audits and external auditors focus on operational audits and financial statement audits d. external a. auditors assist internal auditors but internal auditors cannot assist external auditors 13. Which of the following is not an objective...
Can you answer these questions? Thank you
47. a. ooo In the auditing environment, failure to meet auditing standards is often: an accepted practice. b. a suggestion of negligence. conclusive evidence of negligence. d. tantamount to criminal behavior. 48. Which of the following most accurately describes constructive fraud? a. Absence of reasonable care. b. Lack of slight care. c. Knowledge and intent to deceive. d. Extreme or unusual negligence without the intent to deceive. 49. “Privileged communication” between client and...
Most questions answered within 3 hours.
-
Hows does water affect the digestion of fats ?
asked 50 minutes ago -
A buffer that contains 0.41 M of a base, B and 0.21 M of its
conjugate...
asked 52 minutes ago -
Pleaaaaaaaasssssse help me please please it's more important
:((((((((((((((((((((
CASE STUDY
Nissan Company
Nissan Motor Company,...
asked 55 minutes ago -
Calculate the concentration of hydronium and hyroxide ions in 1)
2.0 mol/L HNO3 2) 0.5 mol/L...
asked 1 hour ago -
In a loop-the-loop ride a car goes around a vertical, circular
loop at a constant speed....
asked 1 hour ago -
50 grams each of water (18.015 g/mol) and ethylene glycol
(C2H6O2) (62.07 g/mol) are mixed. At...
asked 1 hour ago -
The life expectancy of sport utility vehicles follows a normal
distribution with a mean of 145.8...
asked 1 hour ago -
If an object with mass of 5 kg is pushed with a force of 552 N,...
asked 1 hour ago -
Suppose your program already has a list called nums, which
contains several numbers. Write a for...
asked 1 hour ago -
A spherical shell with a finite thickness just barely floats in
water. If the shell is...
asked 1 hour ago -
Explain in detail whether the following is true or false:
Total factor productivity will rise only...
asked 1 hour ago -
A firm pays a $2.50 dividend at the end of year one
(D1), has a stock...
asked 1 hour ago