Which of the Following Describes an Internal Auditor's Responsibilities to Include

question 380

Multiple Choice

Which of the following describes an internal auditor's responsibilities to include audit procedures to detect fraud in audits of a multinational organization?

• A) International Accounting Standards require the internal auditor to include audit procedures which would detect fraud if it would cause a material misrepresentation of the financial statements.
• B) Internal auditors do not have any specific responsibilities with respect to including fraud-related audit procedures.
• C) Proper audit procedures, when carried out with due professional care, will guarantee that fraud, if present, will be detected.
• D) If significant control weaknesses are detected, additional tests should be directed toward other indicators of fraud.

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Definitions:

De-energized

The state of an electrical device or system when it is not supplied with power or electricity, often as a safe condition for maintenance or setup.

TOF Timer

A timing function that begins timing when the input signal goes from true to false, often used in programmable logic controllers (PLCs).

Accumulate Time

A process in computing or control systems where elapsed or total time for events is recorded or added together.

Time Delay

An intentional latency inserted in a signal path or operational sequence to regulate the flow of information or synchronization of tasks.