How can internal auditors use histograms during internal audits?
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A: (3) operational auditing.
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A: Analytical procedures: Analytical procedures are a type of evidence used during an audit. These…
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A: Find the answers below: The Correct answer is e) use Cpmk
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A: 4) Assurances provided by audit procedures at a lower level
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A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: The three key philosophies of TQM are O a. Reducing cost, continuous improvement and involvement of…
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A: f.Communicate benchmarking findings and gain acceptance.
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A: Option d is correct option.
Q: 1. Why is effective skills in quality management is important in any organisation?
A: Note: Only one question can be answered at a time according to our instructions. Quality management…
Q: Which of the following statements is not true of Quality control? a. Quality control aims at…
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- Understanding the potential causes of risk events will primarily help an organization to * Improve internal audit procedures. Comply with corporate governance standards. Eliminate all risks Reduce the frequency of loss7 Which one of the following is the iterative component of internal control system for mitigating risk of the entity? a. Risk Assessment b. Information and Communication c. Control Environment d. Monitoring ActivitiesExplain how the effectiveness of general controls affects theauditor’s tests of automated application controls, including the auditor’s ability to rely ontests done in prior audits.
- The three sections or groups of audit standards are: O Field work, general, and final. O Field work, reporting, and general. Field work, testing, and internal control review. O Field work, general, and overall.Business Intelligence and Analytics Q : List down the steps in building and using a risk analysis modelCompliance with nondiscrimination rules can be achieved by way of two methods. Which are the two methods? Select one: a. Safe harbor and voluntary annual DOL audit b. Safe harbor and nondiscrimination testing c. Voluntary annual DOL audit and nondiscrimination testing d. Nondiscrimination testing and matching contributions to all participants
- Give the correct answer. 1. What are the health and safety risks in the construction industry? 2. Determine the hazard checklist in the construction site? 3. What are the principles of control and prevention?17 As an auditing student you have gained the understanding to the Internal Control System and its Components. Choose component of internal control system which involves setting up of the standards, structures and processes. a. Control Environment b. Monitoring Activities c. Information and Communication d. Risk AssessmentProvide two examples for each element: A. Expected benefits. B. Risks
- If a credit manager reviewing a potential customer’s request for a $20,000 line of credit, what would he/she analyze? Generally, how would the 5Cs of Credit guide his/ her analysis and help lead to a prudent decision to accept or reject the request?4. Happy Toy Company's R&D The Happy Toy Company's R&D department is always looking for great ideas for new toys. On average, the R&D department generates about 10 new toy ideas a week. To go from idea to approved product, the idea must go through 5 stages: Pr(Fail) = 40% Pr(Fail) = 50% Pr(Fail) = 65% Pr(Fail) = 80% Initial Safety testing Focus Final decision Mockup screening group In initial screening a staff member spends 2 hours considering the idea. In mock-up, the idea is sent to one of many suppliers to produce a physical mock-up of the toy. There is essentially unlimited capacity at this stage, but it takes 4 days to get the mockup built even though multiple mockups can be built simultaneously. In safety testing each idea requires 2 days from a staff member to have the idea checked for safety. In focus groups each idea requires 3 hours from a staff member to have the idea test marketed. Finally, the management team meets for 4 hours per idea to decide if the toy should be added…An advantage from an audit under ISO 14001 is: Select one: a. An improvement in incentives. b. The duplication of benefits. c. Identify cost savings.