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8 Cards in this Set
- Front
- Back
What is a preliminary survey good for? |
to become familiar with activities, risks and controls |
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What are the 6 components of a preliminary survey? |
1) engagement client input 2) analytical procedures 3) interviews 4) prior audit reports 5) process mappings 6) checklists |
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What is an analytical procedure assessment based on? |
on the comparison of procedure results with auditor's expectations |
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What are the two types of a questionnaire? |
1) internal control questionnaire 2) pre-interview questionnaire |
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What are the four types of an interview? |
1) preliminary interview 2) fact-gathering interview 3) follow-up interview 4) exit interview |
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What are 4 other data gathering techniques? |
1) observation 2) checklists 3) internal surveys 4) external sources |
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What must IA do with regard to risk when planning an engagement? |
- preliminary risk assessment |
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What are the 4 pivotal aspects of the preliminary risk assessment? |
- reliability of management's assessment of risk - management's process for monitoring, reporting, and resolving risk and control issues - management's reporting of events that exceeded the organization's risk appetite - risks in related activities |