When Using a Risk Assessment Model to Develop Audit Plans

question 162

Multiple Choice

When using a risk assessment model to develop audit plans, it is essential that the chief audit executive take into account the:

• A) Results of the last audit.
• B) Planned visits by the external auditors during the upcoming year.
• C) Recent or expected changes in management direction and objectives.
• D) Dates of future board meetings.

---

Definitions:

Operation Overlord

The code name for the Battle of Normandy, the Allied operation that launched the successful invasion of Nazi-occupied Europe during World War II.

Allied Leaders

Refers to the principal political and military figures from countries allied against the Axis powers during World War II, including figures such as Franklin D. Roosevelt, Winston Churchill, and Joseph Stalin.

St. Louis

St. Louis is a major city in the state of Missouri, United States, known for its iconic Gateway Arch and as a site of westward expansion and migration.

Jewish Refugees

Individuals of Jewish heritage who fled their home countries due to persecution, particularly before, during, and after World War II.