Compliance Audit_Session 2

Which of the following is not part of preliminary engagement activities?

• A. Determination of the type of audit engagement – direct reporting or attestation engagement

• B. Assessing the competence of the team

• C. Determination of the level of assurance

• D. None of the above

Which of the following are the steps involved in planning the audit at the strategic level?

(select all correct answers)

• A. A.Identification of audit topics

• B. Compliance with relevant ethical requirements

• C. Assessment of team competence

• D. Determination of level of assurance to be provided

• E. Determination of the type of audit engagement

The determination of the level of assurance to be provided is affected by the following:

• A. Needs of the intended users

• B. Availability of and access to information

• C. Availability of resources

• D. All of the above

• E. A & B only

Factors that may be used in the identification of audit topics:

• A. Public or legislative interests or expectations

• B. Impact on citizens

• C. Projects with significant public funding

• D. B & C

• E. A, B & C

In conducting compliance audit in COA, generally the level of assurance shall be limited assurance.

• A. TRUE

• B. FALSE

In cases where specialized techniques, methods, or skills are necessary in the audit, but not available within the team or the Commission, services of external experts may be utilized.

• A. TRUE

• B. FALSE

When external experts are utilized, the auditor will not be responsible for the conclusion if the auditor has performed and is satisfied with the result of the evaluation of the independence, competence, capabilities, and objectivity of these experts.

• A. TRUE

• B. FALSE

ISSAI 40 provides SAIs and the staff working for them with a set of values and principles on which to base behavior.

• A. TRUE

• B. FALSE