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NO.1 According to the International Professional Practices Framework, which of the following
should be excluded from a final communication for a performance audit engagement?
A. The internal auditor's unbiased opinion.
B. Timely and relevant information.
C. Legal opinions related to illegal acts.
D. Recommendations and conclusions.
Answer: C
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NO.2 Which of the following is the primary purpose of financial statement audit engagements?
A. To provide a review of routine financial reports, including analyses of selected accounts for
compliance with generally accepted accounting principles.
B. To evaluate organizational and departmental structures, including assessments of process flows
related to financial matters.
C. To provide an analysis of business process controls in the accounting department, including tests
of compliance with internal policies and procedures.
D. To assess the efficiency and effectiveness of the accounting department.
Answer: A
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NO.3 Which of the following documents should the chief audit executive review and approve?
1.Workpaper retention policy.
2.Audit committee meeting minutes.
3.Internal audit handbook.
4.Quarterly financial statements.
A. 1, 3, and 4 only
B. 2 and 4 only
C. 1 and 3 only
D. 1 and 2 only
Answer: C
NO.4 At the conclusion of an audit of an organization's treasury department, a report was issued to
the treasurer, chief financial officer, president, and board. Because of the sensitivity of some findings,
a follow-up review was performed. The auditor should provide the report of follow-up findings to
the.
I. Treasurer.
II. Chief financial officer.
III. President.
IV. Board.
A. I, II, III, and IV.
B. I, II, and III only
C. III and IV only
D. I and II only
Answer: A
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