Question: 1
Productivity statistics are provided quarterly to a company's board of directors. An auditor checked the ratios and other statistics in the four most recent reports. The auditor used scratch paper and copies of the board reports to verify the accuracy of computations and compared the data used in the computations with supporting documents. The auditor wrote a note describing this work for the workpapers and then discarded the scratch paper and report copies. The auditor's note stated.
''The ratios and other statistics in the quarterly board reports were checked for the last four quarters, and appropriate supporting documents were examined. All amounts appear to be appropriate.''
In this situation:
Question: 2
Which of the following trends found on financial reports would most likely indicate a possible problem?
Question: 3
Which of the following situations would best support the decision of a chief audit executive (CAE) to defer follow-up activity at a branch office until the next audit engagement?
Question: 4
When conducting research, which of the following is most important?
Question: 5
In which of the following situations would it be most appropriate to employ the services of a forensic specialist?