Here is a good overview of the Audit CPA exam that will give you a basic idea of what is covered on the test. A smaller sample can be used. Has the amount of complaints changed over time?
Staffing and supervision relate to the professional proficiency of the internal audit activity. How do data trends get analyzed? Or is it moving in the opposite direction?
Visit our Weekly Review Quiz Archive to view past quizzes with answers and rationales. According to Practice Advisoryorganizational status and objectivity permit members of the internal audit activity to render the impartial and unbiased judgments essential to the proper conduct of engagements.
In addition the client must establish and maintain internal controls. Students can also flag questions for later review. The link between the complaint process and corrective action also requires special scrutiny.
If a change in accounting principle has occurred and the auditor concurs with the change, the only requirement that must be met is to refer to the change in an emphasis-of-matter paragraph following an otherwise unmodified opinion. Controlling nonconforming products is a basic discipline and one that smart auditors always probe.
In all cases, though, personnel must understand the product requirements. This will typically include defined responsibilities for logging and tracking complaints, clear problem statements with all relevant facts included, determination of problem causes, and actions that address the causes.
Many organizations run out of gas before they get to the action phase, and the valuable opportunities afforded by customer feedback are ignored as other problems arise.
What happens if your product, materials, or supplies are nonconforming? This audit question attempts to probe the degree of planning that goes into developing these resources.
It is not necessary for the auditor to concur explicitly with the change nor is it appropriate for the opinion to be qualified as a result of the change.
How are customer perceptions captured on a proactive basis? How are data on customer satisfaction analyzed?
The answer can be compared to the formal controls in place e. What resource would help you be more effective? Here are some related audit questions:In some cases, boards and audit committees may not want to ask the questions directly and prefer to ask the Chief Audit Executive or management to include the topics or answers to the questions in the annual audit plan or other presentations to the Committee.
Internal Auditor interview questions This Internal Auditor interview profile brings together a snapshot of what to look for in candidates with a balanced sample of suitable interview questions.
Similar job titles include Staff Auditor, Audit Supervisor, Compliance Auditor, Senior Auditor and Audit Manager. Join our community to connect with your peers online and find valuable information to help you prepare and pass the CPA exam.
We are the #1 free resource with over 2, free CPA review questions. Certified Internal Auditor® (CIA®) Sample Exam Questions The audit schedule should only be reduced as a last resort once all other viable alternatives have been explored, including the request for additional resources.
Incorrect. Using operating personnel with internal audit interest and corporate experience is an appropriate way to. Final Review Questions Chloe Granahan 1. Assume that the audit team notes the client has made a significant change in its product line which requires that new equipment be purchased.
Communications Between Predecessor and Successor Auditors preceding period or periods and may provide audit evidence that is useful in performing the reaudit.Download