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How should an internal auditor approach preparing a detailed risk assessment during engagement planning?
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According to the MA guidance, which of the following does the engagement work program test in a review of an organizational process?
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An examination of the accounts payable function evidenced multiple findings with respect to segregation of duties. After management's response and action plan are received and documented in the final report, which of the following is most appropriate?

Question 337 - IIA-CIA-Part2 discussion

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An engagement supervisor reviewed a staff internal auditor's documentation and noted that several edits should be made. The internal audit activity uses an electronic workpaper database and does not maintain paper files for its system of record. A system error prevents the engagement supervisor from adding her electronic signature to any workpaper in the database Given this situation which is the most appropriate response to provide evidence of supervisory review?

A.
The engagement supervisor should print sign and date each workpaper after the review is complete and scan the document into the database as evidence of review
Answers
A.
The engagement supervisor should print sign and date each workpaper after the review is complete and scan the document into the database as evidence of review
B.
Because the engagement supervisor called the help desk to correct the IT problem, he should upload the support-request ticket from the help desk to serve as evidence of the review
Answers
B.
Because the engagement supervisor called the help desk to correct the IT problem, he should upload the support-request ticket from the help desk to serve as evidence of the review
C.
The engagement supervisor should ask another manager-level internal auditor not associated with the project to sign the workpaper on his behalf
Answers
C.
The engagement supervisor should ask another manager-level internal auditor not associated with the project to sign the workpaper on his behalf
D.
The engagement supervisor should instruct the staff internal auditor to add a note in the workpaper on his behalf indicating that the workpaper was reviewed and feedback was provided
Answers
D.
The engagement supervisor should instruct the staff internal auditor to add a note in the workpaper on his behalf indicating that the workpaper was reviewed and feedback was provided
Suggested answer: A

Explanation:

Given the situation where a system error prevents the engagement supervisor from adding her electronic signature to the workpapers, the most appropriate response to provide evidence of supervisory review is to print, sign, and date each workpaper after the review is complete, and then scan the document into the database as evidence of review. This ensures that there is a clear and traceable record of the supervisory review process, which is crucial for maintaining the integrity and reliability of the audit documentation. Printed Documentation: Printing the workpapers provides a physical copy that can be signed and dated, serving as a tangible record of the review. Signature and Date: The supervisor's signature and date indicate the completion of the review process and provide accountability. Scanning into Database: Scanning the signed documents back into the electronic workpaper database ensures that the evidence of review is stored in the system of record, maintaining consistency and accessibility. This method upholds the standards of documentation and supervisory review, ensuring compliance with internal audit policies and procedures.

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asked 18/09/2024
Sergio Zozulenko
40 questions
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