Incorrect The assessment may be carried out by anyone with the appropriate

Incorrect the assessment may be carried out by anyone

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2. Incorrect. The assessment may be carried out by anyone with the appropriate skills, qualities, and perspectives. This could include internal auditors and other members of management, but this is not a requirement.3. Incorrect. The principles state that the assessment be carried out from the perspective of the organization as a whole. (Even if it is carried out on the activities of a sub-unit, the perspective used must be that of the overall organization.)4. The principles state that the assessment is the responsibility of the chief executive officer, not the board.g. 1. Correct. Auditors should emphasize their roles as management advisors.2. Incorrect. This will not help gain the support of the managers to whom the lower level employees report.3. Incorrect. Managers will resent that they (or their staff) are being suspected as crooks.4. Incorrect. Auditors cannot prevent or detect all frauds; in any case, this is management’s responsibility.h.1. Correct. Involving the manager in seeking a solution will convey respect for the manager’s position.2. Incorrect. This will cause the manager to become defensive.3. Incorrect. Although all deficiencies should be appropriately documented, this will not help gain the support of the manager.4. Incorrect. This will lead the manager to think that the auditor is undermining him/her.i.1. Incorrect. The observation or condition is compared with the criteria.2. Incorrect. The observation or condition is compared with the criteria.3. Correct. The recommendation must address the cause of the deficiency.4. Incorrect. The risk or impact relates to the importance of the weakness, not the recommendation for addressing it.j.1. Incorrect. At a minimum, the decision must be reviewed.2. Incorrect. If the auditor believes that there is still a relevant and significant risk, the matter should be included in the new audit and reported again.3. Correct. Management’s decision may have been appropriate.4. Incorrect. The auditor lacks the authority to do this and, in any case, management’s judgment may have been appropriate.k.1. Incorrect. The treasurer does not have operating responsibility for accounts payable.2. Correct. The accounts payable manager should be the one to implement the changes necessary to improve the controls.3. Incorrect. Although the auditors will be interested in the findings, it is not their responsibility to effect changes to address the weaknesses.4. Incorrect. The chief financial officer is not the level of manager responsible for implementing corrective action, although the CFO would be interested in the auditor’s findings.l.1. Incorrect. The exit interview should be held before the final report is written.2. Incorrect. This is internal to the audit department and not the purpose of an exit interview.3. Incorrect. This is not the main purpose of the exit interview; this might be done only after management has had time to consider the draft report (therefore, after the exit interview).4. Correct. The main purpose of the exit interview is to ensure that there are no errors in the
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