IIA-CFSA

IIA-CFSA practice questions, page 10 of 21, with answer review and explanations.

Question 46

Following elements should be documented in the audit scope EXCEPT:

  1. Time period to be covered by audit tests
  2. Available data: No. of records Locations Need to create data Form Reliability
  3. Prioritizing risks
  4. Both A and B

Question 47

✑ Site Selection Rationale ✑ Client officials client/requesters for audit results ✑ Scope limitations encountered or anticipated ✑ Expert advice The above elements should be documented in the:

  1. Audit planning
  2. Risk assessment
  3. Audit scope
  4. None of these

Question 48

Considerations for determining required audit resources include:

  1. Training needed by the audit staff to meet the audit objectives
  2. Contractual assistance needed to meet the audit objectives
  3. Both A and B
  4. None of these

Question 49

Engagement client management often has a negative perception of audit process; therefore, communication throughout the audit process is essential to alleviate some of the concerns of management. The very first step in communicating the audit information with the client is:

  1. Entrance conference
  2. Formal notification of the audit
  3. Explanation of the scope of audit
  4. None of these

Question 50

Entrance Conference— The entrance conference may be the auditor’s first face-to-face contact with client. The objective/s of the entrance conference is/are to:

  1. Explain preliminary audit scope
  2. Present projected audit milestone dates and completion dates
  3. Identify key contacts and desired communication protocols
  4. All of these