IIA-CIA-PART2 · Question #269
A chief audit executive (CAE) a developing a work program for an upcoming engagement that will review an organization's small contracting services. When of the following would the CAT need to…
The correct answer is D. The organization's recent changes to how it processes payments. When developing the work program for an engagement reviewing an organization's small contracting services, the chief audit executive (CAE) should consider the organization's recent changes to how it processes payments. Changes in payment processing can significantly impact the…
Question
A chief audit executive (CAE) a developing a work program for an upcoming engagement that will review an organization's small contracting services. When of the following would the CAT need to consider most when developing the work program?
Options
- AThe contracting department's staffing changes within the last year
- BThe certifications held by the internal auditors assigned to the engagement
- CThe internal audit activity's increase n budget and staffing for the year
- DThe organization's recent changes to how it processes payments
How the community answered
(37 responses)- A16% (6)
- B5% (2)
- C8% (3)
- D70% (26)
Explanation
When developing the work program for an engagement reviewing an organization's small contracting services, the chief audit executive (CAE) should consider the organization's recent changes to how it processes payments. Changes in payment processing can significantly impact the control environment and may introduce new risks or control gaps. Understanding these changes will help the CAE design appropriate audit procedures to evaluate the effectiveness of the controls over the new processes.
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