During an accounts payable audit engagement, the internal auditor found that vendor invoices are always paid 30 days after the invoice date, regardless of the vendor's payment terms. The auditor also discovered that accounts payable employees are not comparing vendor invoices received to previous vendor invoices prior to payment. Based on the auditor's observations, what are the potential risks?
Internal and external benchmarking by the internal audit activity are examples of which of the following?
Which of the following best describes a compliance audit engagement?
In a standard process mapping document, a diamond shape typically represents which of the following?
Which of the following best describes the difference between inherent risk and residual risk?
Which of the following best demonstrates that appropriate and sufficient resources were allocated to an audit engagement to achieve its objectives?
Which of the following conditions involving the chief audit executive (CAE) is most likely to impair the independence of the internal audit activity?
Which of the following statements is appropriate to include in a high-quality internal audit engagement communication?
Which of the following describes how the internal audit activity can add the greatest value by assisting management with internal controls?
What is the primary purpose of a preliminary survey?
