What characteristic of information is satisfied by an original signed document?
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Which of the following documents would be the most reliable evidence for an audit?Answer and Explanation: The correct answer to the above is Option (a) A written confirmation sent by a bank directly to the auditor. The information or evidence obtained from outside the organization is more reliable than information or evidence obtained from within the organization.
Which of the following evidence is the most reliable evidence corroborated by engagement client management?Answer (A) is correct. External information is ordinarily more reliable than the other types of information listed because it is generated from sources independent of the engagement client.
What are the two most important qualities for an operational auditor?18) The two most important qualities for an operational auditor to possess are independence and competence. 19) Auditors can insist that the changes that they recommend as the result of an operational audit be implemented by the company.
During which phase of the engagement does the internal auditor identify the objectives and related controls?The evaluation phase of the audit is referred to as fieldwork. This phase includes assessing the adequacy of internal controls and compliance, testing of transactions, records, and resources, and performing other procedures necessary to accomplish the objectives of the audit.
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