Quiz 5: Fundamental audit concepts and principles

What are second party audits?

• Audits conducted by external and independent audit organizations with the aim of providing certification services

• Audits that give the organization assurance on the level of control over operations and give recommendations to improve operations

• Audits conducted by parties that have an interest in the auditee and are not intended for certification purposes

Who determines the audit objectives?

• The audit team leader

• The certification body

• The auditee

If auditors are truthful, uncorrupted, and impartial, which audit principle are they adhering to?

• Evidence-based approach

• Due professional care

• Integrity

What is the aim of professional skepticism?

• To remain objective during the audit and not compromise professional judgment

• To eliminate the risk of overlooking uncommon circumstances and considering factors that can affect decisions regarding the audit

• To reduce the risk of overlooking uncommon circumstances and drawing incorrect audit conclusions

Can auditors reveal the information they have collected during an audit after the professional relationship between them and the auditee has ended?

• No, information collected during the audit must not be revealed under any circumstances

• Yes, the auditors own the information they collected during the audit

• No, they should maintain confidentiality of information

The auditee receives consultancy services from a certification body that will conduct an audit on the company’s management system in six months’ time. Is this acceptable?

• No, the auditee cannot receive both consultancy and audit services from the same entity

• Yes, six months is enough time for the auditee to be able to receive consultancy services from the certification body

• No, at least two years should pass before the auditee can be audited by a certification body after receiving its consultancy services

Which of the statements below regarding auditor competence is correct?

• Only the audit team leader is required to know audit principles, processes, and methods

• Auditors are not required to have the knowledge and skills related to management system standards and other references

• The audit team should have the collective discipline and sector-specific competence appropriate for auditing management systems and sectors