White planning an audit engagement of a procurement card activity. which of the following actions should an internal auditor take to denary relevant risks and controls?

Question

Options

• ACompare card transaction types against procurement card policy guidelines.
• BDevelop the scope and objectives of the engagement
• CDetermine how many cardholders exceeded their daily limit.
• DMeet with the procurement card program administrator

• A
  3% (1)
• B
  3% (1)
• D
  93% (27)

Explanation

Meeting with the procurement card program administrator is a crucial step in identifying relevant risks and controls. This individual can provide detailed insights into how the procurement card program operates, potential risks, existing controls, and any issues or areas of concern. This information is vital for developing a comprehensive understanding of the program and for planning the audit engagement effectively. Actions like comparing card transaction types against policy guidelines, determining cardholder limit exceedances, and developing scope and objectives are important but are typically undertaken after initial risk and control identification.

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