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A typical objective of an operational audit is to

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10.A typical objective of an operational audit is todetermine whether an entity'sa.Internal control structure is adequatelyoperating as designedb.Operational information is in accordancewithgenerallyacceptedaccountingprinciples.
c.Specific operating units are functioningefficiently and effectivelyd.Financial statements present fairly theresults of operations
11. The auditor communicates the results of his orher work through the medium of the
b.Audit report.c.Management letter.d.Audited financial statements.
12. Which of the following types of auditing isperformed most commonly by CPA's on acontractual basis?a.Internal auditingb.Income tax auditingc.Government auditingd.External auditing
13.Independent auditing can best be described as
14.The overall objective of internal auditing is to
VDD
c.Provide assurance that financial data havebeen accurately recorded.d.Assist members of the organization in theeffectivedischargeoftheirresponsibilities.15. Internal auditing is an independent appraisalfunction established within an organization toexamine and evaluate its activities. To that end,internal auditing provides assistance to
16. Which of the following statements is not adistinction between independent auditors andinternal auditors?a.Independent auditors represent third partyusers external to the auditee entity, whereasinternalauditorsreportdirectlytomanagement.
b.Although independent auditors strive forboth validity and relevance of evidence,internal auditors are concerned almostexclusively with validity.c.Internal auditors are employees of theauditee, whereas independent auditors areindependent contractors.d.The internal auditor's span of coverage goesbeyond financial auditing to encompassoperational and performance auditing.

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Term
Fall
Professor
NoProfessor
Tags
Financial audit

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