While Performing an Internal Audit Engagement, an Auditor Reviews a Flowchart

question 1

Multiple Choice

While performing an internal audit engagement, an auditor reviews a flowchart of the organization's purchasing function. Which of the following internal control weaknesses would the auditor be able to identify in the chart?

• A) That purchasing policies have not been updated.
• B) That supplier invoices are processed and paid before the goods are received.
• C) That the organization is not taking advantage of quantity discounts available from its suppliers.
• D) That authorization for payment of goods received has not been granted at the appropriate level.

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Definitions:

Increased Tension

A situation where there is a rise in pressure or stress within a structure or system, such as in muscles or blood vessels.

Incomplete Tetanus

A muscular contraction characterized by rapid cycles of contraction with partial relaxation in between, due to stimuli occurring at a high frequency.

Muscle Contraction

The process of generating tension within muscle fibers, leading to movement or force generation, a critical function for movement and stability.

ATP

Adenosine triphosphate, a molecule that carries energy within cells.