When Developing the Annual Audit Plan and Reviewing Risk Assessment

question 14

Multiple Choice

When developing the annual audit plan and reviewing risk assessment priorities, a chief audit executive should always identify the:

• A) Potential recommendations for each auditable activity.
• B) Persons to whom engagement reports will be communicated.
• C) Engagement procedures to be used during the engagements.
• D) Internal audit resources required to achieve the audit plan.

Recognize the importance of feedback training for raters in performance evaluations.

Acknowledge the suitability of team evaluations for companies with a total-quality management philosophy.

Identify the training needs for supervisors in performance evaluation programs.

Describe the bias and subjectivity in trait and results-oriented methods.

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Definitions:

Quality Codes

Standards or systems used to categorize and ensure the level of quality or integrity of products, processes, or materials.

European Union

A union focused on politics and economics comprising 27 countries primarily situated in Europe.

Euro

The official currency of 19 out of 27 European Union countries, which forms the Eurozone and is one of the largest currencies in the world by value.

European Union Nations

Countries that are members of the European Union, a political and economic union aimed at promoting integration and common policies among member states.