Question: 1
The internal audit activity can be involved with systems development continuously, immediately prior to implementation, after implementation, or not at all. An advantage of continuous internal audit involvement compared to the other types of involvement is that:
Question: 2
A bank is developing an integrated customer information system. The type of audit involvement that would most likely help avoid implementation of a system that does not cover all types of accounts would be:
Question: 3
Which of the following is a responsibility of the internal auditor once a fraud investigation has been concluded?
Question: 4
A chief audit executive has noticed that staff auditors are presenting more oral reports to supplement written reports. The best reason for the increased use of oral reports is that they:
Question: 5
Which of the following tests must an internal auditor perform in order to ensure that inbound electronic data interchange (EDI) transactions are received and translated accurately?
1. Computerized tests to assess transaction reasonableness and validity.
2. Review of log books to ensure that transactions are logged upon receipt.
3. Edit checks to identify unusual transactions.
4. Verification of limitations on the authority of users to initiate specific EDI transactions.