When an internal auditor applies due professional care to perform an assurance engagement, which of the following must she consider? 1. Findings of the last audit engagement performed. 2. Probability of significant errors, irregularities, or noncompliance. 3. Extent of work needed to achieve engagement objectives. 4. Cost of the engagement versus the potential benefits.
A) 1 and 4 only
B) 2 and 3 only
C) 2, 3, and 4 only
D) 1, 2, 3, and 4

Question

Quizplus · Accepted Answer

The internal auditor must consider the probability of significant errors, irregularities, or noncompliance, the extent of work needed to achieve engagement objectives, and the cost of the engagement versus the potential benefits.

When an Internal Auditor Applies Due Professional Care to Perform