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• Question 13 A client’s materials-purchasing cycle begins with
requisitions from user departments and ends with the receipt of
materials and the recognition of a liability. An auditor’s primary
objective in reviewing this cycle is to
• Question 14 The company being audited has an internal auditor that
is both competent and objective. The independent auditor wants to
assign tasks for the internal auditor to perform. Under these
circumstances, the independent auditor may
• Question 15 An effective control that protects against the
preparation of improper or inaccurate disbursements would be to
require that all checks be
• Question 16 During a financial statement audit an internal auditor
may provide direct assistance to the independent CPA in performing
• Question 17 When assessing internal auditors' objectivity, an
independent auditor should
• Question 18 Which of the following factors most likely would assist
an independent auditor in assessing the objectivity of the internal
auditor?
• Question 19 Which of the following is the most effective control to
detect vouchers that were prepared for the payment of goods that were
not received?
• Question 20 Miller Retailing, Inc. maintains a staff of three full-time
internal auditors who report directly to the controller. In planning to
use the internal auditors to provide assistance in performing the audit,
the independent auditor most likely will
• Question 21 The accounts payable department receives the purchase
order form to accomplish all of the following except
• Question 22 The independent auditor should acquire an
understanding of the internal audit function as it relates to the
independent auditor’s consideration of internal control because
• Question 23 For effective internal control purposes, the vouchers
payable department generally should
• Question 24 For which of the following judgments may an
independent auditor share responsibility with an entity’s internal
auditor who is assessed to be both competent and objective?