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Question 18/47
A senior police officer was in charge of the cash fund used for undercover operations. In this situation, which of the following would likely be considered a red flag?
Correct Answer: B
Comprehensive and Detailed Step-by-Step Explanation:
* Living Beyond Means: This is a classic red flag for potential fraud. It suggests that the officer may be using unauthorized funds to support an extravagant lifestyle, particularly when they have access to a cash fund with limited oversight.
* Living Beyond Means: This is a classic red flag for potential fraud. It suggests that the officer may be using unauthorized funds to support an extravagant lifestyle, particularly when they have access to a cash fund with limited oversight.
- Question List (47q)
- Question 1: What is the primary objective for testing controls?...
- Question 2: Information collected and documented in audit workpapers sho...
- Question 3: The internal audit activity has been tasked with evaluating ...
- Question 4: Which of the following is an advantage of communicating audi...
- Question 5: As part of the annual training plan, the chief audit executi...
- Question 6: Which of the following activities would compromise the indep...
- Question 7: Which of the following internal auditor attributes benefits ...
- Question 8: Which of the following scenarios would be the strongest indi...
- Question 9: Which sampling technique uses a nonrandom selection process ...
- Question 10: Which of the following statements is true regarding engageme...
- Question 11: During which stage of an audit engagement would the engageme...
- Question 12: Which of the following is the most appropriate audit objecti...
- Question 13: An internal auditor is conducting a human resources audit en...
- Question 14: What is the purpose of establishing engagement objectives du...
- Question 15: Which of the following is the best audit procedure to determ...
- Question 16: According to The IIA's Code of Ethics, which of the followin...
- Question 17: Which of the following situations is most likely to require ...
- Question 18: A senior police officer was in charge of the cash fund used ...
- Question 19: A senior internal auditor is using a risk and control matrix...
- Question 20: Which of the following conditions would threaten an internal...
- Question 21: An internal auditor is planning a business continuity audit ...
- Question 22: Which of the following best describes the purpose of a detai...
- Question 23: Which of the following statements best describes quality aud...
- Question 24: Which of the following best explains why internal auditors s...
- Question 25: During a review of the payroll department, a payroll associa...
- Question 26: A senior internal auditor is planning a compliance audit of ...
- Question 27: An internal auditor was assigned to a payroll process audit ...
- Question 28: Which of the following best describes the difference between...
- Question 29: Which of the following is a purpose of an embedded audit mod...
- Question 30: A member of the internal audit team worked eight months ago ...
- Question 31: During an accounts payable audit engagement, the internal au...
- Question 32: Which of the following actions could the chief audit executi...
- Question 33: When determining the appropriate level of resources needed f...
- Question 34: Which of the following consulting engagements leverages an i...
- Question 35: The engagement supervisor is coordinating an audit of invest...
- Question 36: If an internal auditor needs to evaluate compliance with an ...
- Question 37: Which of the following is considered an organization-level c...
- Question 38: Which of the following is an example of a detective control?...
- Question 39: Which of the following is the most important initial action ...
- Question 40: Which of the following interview techniques would be most ef...
- Question 41: Which of the following is an element of a well-formed audit ...
- Question 42: During engagement planning, which of the following sources w...
- Question 43: An internal auditor is performing an internal control assess...
- Question 44: What are the typical elements of a risk and control matrix u...
- Question 45: Internal and external benchmarking by the internal audit act...
- Question 46: Which of the following would an internal auditor most likely...
- Question 47: According to IIA guidance, which of the following are common...
