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Working papers serve the following purpose for the internal auditor:

A.

Provide the auditee a place to make responses to audit recommendations.

B.

Make the audit report more readable by providing a place to append exhibits.

C.

Provide the principal evidential support for the internal auditor's report.

D.

Provide a place to summarise overall audit recommendations.

Which of the following is not an argument for principles-based approach to corporate governance?

A.

The same rules might not be suitable for every company

B.

There are some aspects of corporate governance that cannot be regulated easily

C.

Companies do not have the choice of ignoring the rules

D.

The most suitable corporate governance practices can differ between companies

Due to the small number of staffs, one remote unit's petty cash custodian also had responsibility for the imprest fund checking account reconciliation. The cashier concealed a diversion of funds by altering the beginning balance on the monthly reconciliations sent to the group office.

A possible audit test to detect this would be to

A.

Compare monthly balances and use change and trend analysis.

B.

Require additional monitoring by headquarters whenever improper segregation of duties exists at remote units.

C.

Determine if any employees have high personal debt.

D.

Determine if any employees are leading expensive lifestyles.

The requirements for staffing level, education and training, and audit research should be included in

A.

The internal auditing department's charter.

B.

The internal auditing department's policies and procedures manual.

C.

The annual plan for the internal auditing department.

D.

Job descriptions for the various staff positions.