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How should an internal auditor approach preparing a detailed risk assessment during engagement planning?
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Question 348 - IIA-CIA-Part2 discussion

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What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?

A.
To ensure that the engagement is completed on time and within budget
Answers
A.
To ensure that the engagement is completed on time and within budget
B.
To ensure that all work performed meets acceptable quality standards
Answers
B.
To ensure that all work performed meets acceptable quality standards
C.
To ensure that management has provided suitable responses to all observations
Answers
C.
To ensure that management has provided suitable responses to all observations
D.
To ensure that management is satisfied with the progress of the engagement
Answers
D.
To ensure that management is satisfied with the progress of the engagement
Suggested answer: B

Explanation:

The primary objective of an engagement supervisor's review of key activities during the engagement is to ensure that all work performed meets acceptable quality standards. This includes verifying that audit procedures were appropriately executed, audit evidence is properly documented, and audit conclusions are supported. The supervisor's review is crucial for maintaining the integrity and reliability of the audit process, ensuring compliance with internal audit standards and protocols.

Reference: IIA Standard 2340: Engagement Supervision IIA Practice Guide: Quality Assurance and Improvement Program

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asked 18/09/2024
Ivan Rodrigo Velasco Capote
34 questions
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