Question 1

____________________ auditing refers to the study of business operations for the purpose of making recommendations about ____________________ and ____________________ use of resources.
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The answer of ____________________ auditing refers to the study of...

Question 2

Few fraud auditors believe in the concept of an "immaterial fraud" because ________________________ and ________________________________________.
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The answer of Few fraud auditors believe in the concept...

Question 3

Compliance auditing refers to the process of ensuring that a company is operating within _________________,___________________,and _________________________.
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The answer of Compliance auditing refers to the process of...

Question 4

The IIA auditing standards are classified into three major categories: ___________________,___________________,and _____________________________.
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The answer of The IIA auditing standards are classified into...

Question 5

Generally,fraud examiners are called when a fraud is already known or suspected.The term that means a reason to believe a fraud has occurred is
A) Prediction.
B) Suspicion.
C) Predication.
D) Admonition.

Accepted Answer

The term that means a reason to believe a fraud has occurred is predication. It is the basis for initiating a fraud examination and gathering evidence. Prediction refers to forecasting future events, admonition means a warning, and suspicion is a feeling of doubt or mistrust without a solid basis for evidence.

Question 6

A fraud examination has four main objectives: (1)determining whether a fraud exists,(2)determining ______________________,_________________________________,and ________________________________.
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The answer of A fraud examination has four main objectives:...

Question 7

Although internal auditors are associated with their employers in the eyes of the public,they seek ____________________ and ____________________ independence.
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The answer of Although internal auditors are associated with their...

Question 8

Government performance audits determine if _________________________________________________________ and _______________________________________________.
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The answer of Government performance audits determine if _________________________________________________________ and...

Question 9

The Single Audit Act requires the auditor to report on ____________________ ___________________,___________________________,and ___________________.
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The answer of The Single Audit Act requires the auditor...

Question 10

The ___________________ is the federal law that established uniform requirements for audits of federal financial assistance provided to _________ and _________ governments.
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The answer of The ___________________ is the federal law that...

Question 11

Fraud examination requires the individual to have expertise in ____________________ and ______________________________.
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The answer of Fraud examination requires the individual to have...

Question 12

CPAs in public practice most often are involved in governmental audits as a result of responding to an agency's ___________________________________.
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The answer of CPAs in public practice most often are...

Question 13

Internal audit findings should always include ___________________,___________________,___________________,___________________,and ___________________.
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The answer of Internal audit findings should always include ___________________,___________________,___________________,___________________,and...

Question 14

The Single Audit Act established an annual audit for all ____________________ and ____________________ units that spend $_____________________ or more of ____________________ funds.
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The answer of The Single Audit Act established an annual...

Question 15

A person testifying about findings during litigation support,application of accounting principles,or application of auditing standards is called a(n)_________________________________.
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The answer of A person testifying about findings during litigation...

Question 16

Fraud examiners must be concerned with the integrity of the evidence that they find.Preserving the evidence is called
A) expert identification.
B) chain of custody.
C) evidence conservation.
D) admissibility of testimony.

Accepted Answer

Preserving the chain of custody ensures that the evidence is reliable and admissible in court. It establishes and documents the movement of evidence from its initial discovery to its presentation in court, which is critical for maintaining its integrity and authenticity. Expert identification refers to the process of identifying individuals who are knowledgeable about a particular subject matter and can provide substantive evidence related to the case. Evidence conservation refers to the process of preserving the physical properties of the evidence, such as preventing contamination or degradation. Admissibility of testimony refers to whether or not testimony will be allowed in court based on factors such as relevance, competency, and privilege. While all of these factors are important considerations for fraud examiners, chain of custody is the most relevant to preserving the integrity of evidence.

Question 17

Internal audit reports are usually considered "____________________" until a _________________________ is performed.
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The answer of Internal audit reports are usually considered "____________________"...

Question 18

GAO performs three types of government audits: ___________________,____________________ and ____________________ audits.
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The answer of GAO performs three types of government audits:...

Question 19

Prosecution of fraud perpetrators is advisable because if not prosecuted,they _______________________________,and failure to do so ______________________________________________________.
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The answer of Prosecution of fraud perpetrators is advisable because...

Question 20

Once a fraud is discovered,the focus of the audit changes to an investigation with the primary objective of ___________________________________________________.
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The answer of Once a fraud is discovered,the focus of...

Quiz 16: Internal Audits governmental Audits and Fraud Examinations

auditing refers to the study of business operations for the purpose of making recommendations about and use of resources. Question also found in study guide

Few fraud auditors believe in the concept of an "immaterial fraud" because and ________________. Question also found in study guide

Compliance auditing refers to the process of ensuring that a company is operating within _______,_,and _________________. Question also found in study guide

The IIA auditing standards are classified into three major categories: _________,_,and _____________________. Question also found in study guide

Generally,fraud examiners are called when a fraud is already known or suspected.The term that means a reason to believe a fraud has occurred is

A fraud examination has four main objectives: (1)determining whether a fraud exists,(2)determining ______,_,and ________________. Question also found in study guide

Although internal auditors are associated with their employers in the eyes of the public,they seek and independence. Question also found in study guide

Government performance audits determine if ___________ and _. Question also found in study guide

The Single Audit Act requires the auditor to report on __________ _,_,and _. Question also found in study guide

The _______________ is the federal law that established uniform requirements for audits of federal financial assistance provided to _ and _____ governments. Question also found in study guide

Fraud examination requires the individual to have expertise in and __________. Question also found in study guide

CPAs in public practice most often are involved in governmental audits as a result of responding to an agency's ___________________________________. Question also found in study guide

Internal audit findings should always include _________,_,_,_,and ___________. Question also found in study guide

The Single Audit Act established an annual audit for all __________ and units that spend $_ or more of __________ funds. Question also found in study guide

A person testifying about findings during litigation support,application of accounting principles,or application of auditing standards is called a(n)_________________________________. Question also found in study guide

Fraud examiners must be concerned with the integrity of the evidence that they find.Preserving the evidence is called

Internal audit reports are usually considered "" until a _____ is performed. Question also found in study guide

GAO performs three types of government audits: _, and __ audits. Question also found in study guide

Prosecution of fraud perpetrators is advisable because if not prosecuted,they _,and failure to do so ________________________. Question also found in study guide

Once a fraud is discovered,the focus of the audit changes to an investigation with the primary objective of ___________________________________________________. Question also found in study guide

Quiz 16: Internal Audits governmental Audits and Fraud Examinations

____________________ auditing refers to the study of business operations for the purpose of making recommendations about ____________________ and ____________________ use of resources. Question also found in study guide

Few fraud auditors believe in the concept of an "immaterial fraud" because ________________________ and ________________________________________. Question also found in study guide

Compliance auditing refers to the process of ensuring that a company is operating within _________________,___________________,and _________________________. Question also found in study guide

The IIA auditing standards are classified into three major categories: ___________________,___________________,and _____________________________. Question also found in study guide

Generally,fraud examiners are called when a fraud is already known or suspected.The term that means a reason to believe a fraud has occurred is

A fraud examination has four main objectives: (1)determining whether a fraud exists,(2)determining ______________________,_________________________________,and ________________________________. Question also found in study guide

Although internal auditors are associated with their employers in the eyes of the public,they seek ____________________ and ____________________ independence. Question also found in study guide

Government performance audits determine if _________________________________________________________ and _______________________________________________. Question also found in study guide

The Single Audit Act requires the auditor to report on ____________________ ___________________,___________________________,and ___________________. Question also found in study guide

The ___________________ is the federal law that established uniform requirements for audits of federal financial assistance provided to _________ and _________ governments. Question also found in study guide

Fraud examination requires the individual to have expertise in ____________________ and ______________________________. Question also found in study guide