Question

The objectives of Internal Audit Procedures/Operations Manual do not include: A. Provide guidelines in planning and...

The objectives of Internal Audit Procedures/Operations Manual do not include:
A. Provide guidelines in planning and performance of audits and ensure consistency
B. Educateauditstaffoninternalauditfunction’smethodsofoperationand provide linkage to related standards, policies and procedures
C. DetailthepositionofInternalAuditfunctioninthefirmanditsrelationshipto the other units/departments
D. Be an electronic storage facility for detailed work papers of all completed audits

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The correct option is (D) i.e. Be an electronic storage facility for detailed work papers of all completed audits

The objectives of Internal Audit Procedures/Operations Manual includes:-

Provide guidelines in planning and performance of audits and ensure consistency

Educateauditstaffoninternalauditfunction’smethodsofoperationand provide linkage to related standards, policies and procedures

DetailthepositionofInternalAuditfunctioninthefirmanditsrelationshipto the other units/departments

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Government is cleaning up the way companies do business after accounting and governance scandals rocked investor...
Government is cleaning up the way companies do business after accounting and governance scandals rocked investor confidence and damaged the reputation of companies large and small. The Sarbanes-Oxley Act (SOX) of 2002 was enacted in response to the high-profile Enron and World Com financial scandals to protect shareholders and the public from accounting errors and fraudulent practices by organizations. One primary component of the SOX is the definition of which records are to be stored and for how long. For...
This case will enable you to practice conducting planning and substantive analytical procedures for accounts in...
This case will enable you to practice conducting planning and substantive analytical procedures for accounts in the acquisition and payment cycle. When analyzing the financial data, you may assume that the 2015 information is unaudited, while prior-year data is audited. As you complete this case, consider the following features of and trends in the pharmaceutical industry and for PharmaCorp specifically: After a long period of industry dominance by companies in the United States, the United Kingdom, and Europe, these companies...
Johnson Company— Internal Controls Johnson Company Inc. (Johnson Company or the “Company”) is a U.S. public...
Johnson Company— Internal Controls Johnson Company Inc. (Johnson Company or the “Company”) is a U.S. public company that files quarterly and annual reports with the Securities and Exchange Commission (SEC). JOHNSON COMPANY is a leading retail chain operating more than 500 department stores across the continental United States. JOHNSON COMPANY department stores offer customers a variety of nationally advertised products, including cookware, shoes, jewelry, perfume, and other accessories. The Company’s supply chain of products is managed through a single warehouse...
Codger Corp. — Internal Controls Codger Corp. (CC or the “Company”) is a U.S. public company...
Codger Corp. — Internal Controls Codger Corp. (CC or the “Company”) is a U.S. public company that files quarterly andannual reports with the Securities and Exchange Commission (SEC). CC is a leading retail chain operating more than 100 department stores across the continental United States. CC department stores offer customers a variety of nationally advertised products, including clothing, shoes, jewelry, and other accessories. The Company’s supply chain ofproducts is managed through a single warehouse and distribution facility located in Kansas...
Case Study: Position Description and Specification for an HRIS Administrator One way to assess the nature...
Case Study: Position Description and Specification for an HRIS Administrator One way to assess the nature and importance of a particular function or position in an organization is to examine the job description and job specifications for this position, as they tell us what activities, duties, and tasks are involved in the job as well as what knowledge, skills, and abilities (KSA) are required to perform the job. The following is an actual advertisement for an HRIS administrator. A large...
Case Study: Position Description and Specification for an HRIS Administrator One way to assess the nature...
Case Study: Position Description and Specification for an HRIS Administrator One way to assess the nature and importance of a particular function or position in an organization is to examine the job description and job specifications for this position, as they tell us what activities, duties, and tasks are involved in the job as well as what knowledge, skills, and abilities (KSA) are required to perform the job. The following is an actual advertisement for an HRIS administrator. A large...
The purposes of this article, capital assets are defined as tangible or intangible assets that are...
The purposes of this article, capital assets are defined as tangible or intangible assets that are used in operations and that have useful lives of more than one year, such as land and improvements to land, buildings and building improvements; vehicles; machinery; equipment; and sewer, water and highway infrastructures. Risk Assessment: A municipality’s capital assets are subject to a number of risks. Local officials must be cognizant of these risks as they seek to effectively manage their municipality’s capital assets....
Four Case Studies on Corporate Social Responsibility: Do Conflict Affect a Company's Corporate Social Responsibility: Apple...
Four Case Studies on Corporate Social Responsibility: Do Conflict Affect a Company's Corporate Social Responsibility: Apple Inc. Apple’s profile Apple Inc. (hereafter Apple) was established in 1977 and is registered on the NASDAQ Global Select Market exchange. According to its Form 10-K ‘Apple designs, manufactures and markets mobile communications, media devices, personal computers and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications’. Its products are sold through...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the purchases and fixed assets business areas. Prepare a 12- to 16-slide presentation describing the purchases and fixed assets business areas. Be sure to incorporate speaker notes as well as appropriate visuals, graphics, fonts, etc. Include any associated risk in these areas. Describe specific internal controls that include authorization of transactions, segregation of duties, adequate records and documentation, security of assets, and independent checks and...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT