AAP Quiz

Which of the following is not part of Annual Audit Planning process:

• Info Gathering and Assessment

• Communicate

• Walkthrough

• Review and Update

Which of the following is NOT a criteria in ranking audits?

• Risk Profile

• Customer Feedback

• Past Audit History

• Business Strategy/

  Criticality

Which of the following is NOT the purpose of AAP kick-off meeting

• To obtain information from relevant parties

• To officially commence AAP

• To present work plan, team formation and schedule

• To have context setting by Chief Audit Executive (CAE)

Annual Audit Planning shall be approved by:

• Audit Client

• Internal Audit Management Committee

• Audit Committee

• Board of Directors

Which of the following document is NOT part of planning database?

• Risk profile

• Financial performance and management letter

• Previous audit information

• Results of culture survey

The following process is available in the new AAP process but it is not available in the old AAP process:

• Information Gathering and Assessment

• High-Level RCAM

• Communicate

• Deliberation and Finalisation

Which of the following is not the deliverable of AAP?

• Approved list of audits

• Audit Notification

• Resource Plan and Budget

• Inputs from Audit Committee

The purpose of requesting black out dates from audit client is:

• To determine the date to commence the audit

• To determine the date that audit client is not available for audit

• To set kick-off meeting

• To discuss the audit findings with audit client

To understand the business of audit client, audit team may do the following:

• Read Company strategies

• Prepare Business Model Canvas

• Refer to Audit client focal person

• Refer business profile