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- What actions regarding assurance engagement observations must the internal audit function take after the final engagement communication is disseminated?Asap Discuss with examples, what are substantive audit procedures.Which of the following BEST describes the purpose of the audit planning phase? a) To determine the timing of the audit work. b) To communicate the results of the audit. c) To document the scope, objective(s), preliminary risk assessment and plan for the audit. d) To document the plan for substantive audit requirements.
- When testing IT controls, which of the following BEST (select one) describes the IT auditor's objective: a) Evaluating the need for post-audit substantive testing. b) Assessing the design and operating effectiveness of the controls to express an opinion on whether or not the IT controls adequately mitigate the identified risks. c) Assessing the alignment of the IT controls, in relation to an industry framework. d) Evaluating the scope and objectives of the IT controls.Explain what is included in the risk assessment section of the audit file and the purpose of each item included please maintain plagairismWhat is an engagement quality control review What are the qualification of engagement quality control reviewers What are the pertinent timetable rules for the following Completion of the audit file or documentation Retention of audit file or documentation
- If recommendations are made to the audit report noted problems and weaknesses, written responses detailing the following are requested from the audit client: a. A corrective action plan to resolve the problem and its root cause. b. The person responsible for implementing the corrective action. c. An expected implementation date. d. All of the optionsSummarise current audit practicesChoose the documents which should be included in the audit documentation a. Summaries of significant matter O b. Issue memoranda O c. Audit program O d. All the options
- detail about audit strategy and audit plan along with their importance in audit and assurance assignmentsWhen testing IT controls, which of the following BEST (select one) describes the IT auditor's focus: a) Assessing the alignment of the IT controls, in relation to an industry framework. b) Assessing the design and operating effectiveness of the controls. c) Evaluating the scope and objectives of the IT controls. d) Evaluating the need for post-audit substantive testing.Which of the following BEST (select one) describes the purpose of the audit work program? a) To communicate the results of the audit. b) To document the plan, scope and objectives of the audit. c) To document that sufficient and reliable evidence was obtained to support the audit objectives. d) To verify and substantiate the results of the preliminary field work.
