Which of the following audit types is designed to add value and improve the organization's operations and internal controls? a. External audit b. Internal audit c. Statutory audit d. Government audit

Q: what are some examples of internal controls? How are internal controls related to the Sarbanes-Oxley…

A: Internal Control: In an organization, internal control is a procedure carried out by the entity's…

Q: Establishing and maintaining an internal control structure is the responsibility of the: Select…

A: Internal control : Internal controls are intended to safeguard  assets of business  provide…

Q: Which of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Internal Auditor: An internal auditor is a qualified professional hired by an entity to provide an…

Q: Auditors’ understanding of the internal control in an entity provides information fora. Determining…

A:

Q: Evaluate the value of the internal audit function to an organization's overall performance.

A: Introduction: The audit is defined as the evaluation and analysis of the financial statements and…

Q: Which of the following best describes the operational audit? Select one: a. It requires the constant…

A: Operational audit is the examination and verification of all the operations of the business…

Q: Clarify the difference between an organization's audit committee and its internal audit department.

A: Difference between an organisation's audit committee and internal audit department are the…

Q: Based on the above article, discuss the role of public sector auditing in the process of ensuring…

A: Public sector auditing based on public sector auditing standards help determine the financial…

Q: n which of the following audit type the operational area of the audit is determined by management?

A: The correct answer is b. Internal Audit

Q: How does an audit enhance the quality of financial statements and management’s reports on internal…

A: The requirement that corporations' financial accounts be audited by an impartial external auditor…

Q: Governmental auditing can extend beyond audits of financial statements to include audits ofan…

A:

Q: Which of the following stakeholders rely on internal audit report? a. General public b. Investors c.…

A: Audit is the examination or review of books of account in order to ensure that whether these…

Q: Which of the following is the most important responsibility of the external auditor? a. To ensure…

A: An external auditor is a person outside the organization, who performs the audit, review of…

Q: type of the auditors

A: Audit of internal controls is done to ensure whether control function regarding each transaction is…

Q: Comment on the effectiveness of this structure.

A: The role of internal audit is to provide independent assurance that an organisation's risk…

Q: The Sarbanes-Oxley Act (SOX) mandates which of the following? a. Increased regulations related to…

A: Sarbanes-Oxley Act: This is the act passed by the government for safeguarding investors from…

Q: Why is it important for the internal audit department to be functionally reporting to the audit…

A: Internal audit plays a vital role in companies, probably now more so than ever, with their diverse…

Q: Which of the following type of auditors reviews the routine activities and provide suggestion for…

A: Routine activities are those activities which are carried out by the organization on daily basis.…

Q: An independent examination and evaluation of the financial statements of an organization is called…

A: Businesses are often managed and controlled by managers that are hired employees of the…

Q: Question: Obtaining an understanding of an entity's internal control is more likely to be performed…

A: Introduction: Internal controls are a system of preventative measures set up to make sure that no…

Q: The internal audit activity most directly contributes to an organization’s governance process by A.…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Evaluate the contribution of the internal audit function to the effective running of an…

A: Audit is defined as the evaluation and analysis of the financial statements and information dealt by…

Q: Internal control system comprises the company's policies, practices and procedures which are…

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: In all audits of governmental units performed according to GAGAS, the most important work isa.…

A: GAGAS (generally accepted government auditing standards) or GAS (government auditing standards):…

Q: In the integrated audit of an issuer, which of the following would not be considered an entity-level…

A: Internal control is the managements’ effective and efficient controls for achieving goals and…

Q: Comment on the effectiveness of this organizational structur

A: Internal Audit: Internal audit is the process by which organization assures the compliance of rules…

Q: In this section, we will discuss the numerous alternatives for putting an internal audit function…

A: The following are the many alternatives for efficiently placing an internal audit function within a…

Q: Distinguish management’s responsibility from the audit committee’s responsibility for designing and…

A: Anti-fraud programs and controls depict the actions taken by the management to prevent and mitigate…

Q: hich of the following best describes the internal audit activity's role in supporting the board in…

A: Internal audit refers to the process of investing and evaluating the internal control system of the…

Q: Which of the following is not True about External Auditors? i) External Audit is an audit function…

A: An external audit is an examination that is conducted by an independent accountant. This type of…

Q: Which of the following documents or/ and procedures should be used by the auditor to gain a better…

A: Audit is the process of verifying and examining the financial statements and control procedures…

Q: Which of the following combinations of standards and types of audits are most closelyrelated to the…

A:

Q: Which of the following is an attribute of the internal control procedure—assignment of​…

A: The process by which the operational efficiency and effectiveness in the organizational objectives…

Q: The line of reporting of IS audit is indicated in: a. The audit committee charter. b. The internal…

A: The question is related to reporting of IS Audit. An information systems audit evaluates the…

Q: Which of the following is the primary responsibility of auditor? a. To ensure compliance with laws…

A: An auditor is a person who has been appointed by the board of directors to provide shareholders with…

Q: Governmental auditors’ independence and objectivity are enhanced when they report theresults of an…

A: Governmental audit: The process which evaluates the faithful and fair representation of financial…

Q: Which of the following is more likely to occur when an entity has effective internal controls?…

A: Internal control means the mechanisms, rules, procedures etc. which are implemented by a company to…

Q: financial, compliance, operational audit and government audit. Include in your answer who performs…

A: An audit is a type of assurance service that involves accumulating and analyzing support for…

Q: An organization’s internal audit department is usually considered an effective control mechanism for…

A: Internal Audit: Internal audit is the process by which organization assures the compliance of rules…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Auditing Procedures The purpose of adopting Auditing procedures which are important to the Auditing…

Q: Which of the following is the least important consideration for a governmental auditor whoneeds to…

A: Introduction:

Q: _______ comprises of the plan of the organization and all the co-ordinate methods and measures…

A: In terms of accountancy, auditing can be defined as process of examining the financial statements of…

Q: of the following best describes the scope of internal auditing as it has developed to date? Group…

A: Ans. Internal audit has various objectives such as : i. Safeguarding of Assets ii. Evaluation of…

Q: What is meant by internal control based on the professional standards of a public accountant is: a.…

A: Internal control means a process of doing the work effectively so that objective can be achieved and…