An Internal Auditor Is Conducting Tests to Determine If an Organization

question 191

Multiple Choice

An internal auditor is conducting tests to determine if an organization is in compliance with its payment approval policies. After reviewing a sample of vouchers selected, the internal auditor concluded that there were indicators of fraud. Which of the following would be the most appropriate method to expand the audit test to achieve the audit objective?

• A) Validate the completeness of the accounts payable files. II. Examine the sample of vouchers in greater detail. III. Increase the number of vouchers in the sample. IV. Broaden the scope of the examination to include credits received by accounts payable.
• B) I and II only
• C) II and III only
• D) I, II, and IV only
• E) I, III, and IV only

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Definitions:

Updated Designs

The latest versions or revisions of an object's or system's design, often incorporating new features or aesthetic improvements.

New-category Entries

Products or services introduced into a market that create or define a new category, offering novel solutions to consumers.

Potential and Risk

This term considers the balance between the possibility of gains or growth against the likelihood of losses or negative outcomes.

Revamped Products

Products that have been significantly modified, updated, or improved with the aim of enhancing performance or attracting a larger consumer base.