Question: According to the standards, internal auditors should possess the knowledge, skills, and disciplines essential to the performance of internal auditing. This means that all internal

According to the standards, internal auditors should possess the knowledge, skills, and disciplines essential to the performance of internal auditing. This means that all internal auditors should be proficient in applying:
a. Internal auditing standards.
b. Quantitative methods.
c. Management principles.
d. Structured systems analysis.

Step by Step Solution

★★★★★

3.48 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A Internal auditing standards All internal auditors should be profici... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Exhibit 6.32 presents a statement of cash flows for Swoosh Shoes, Inc., for three years. a. Why did Swoosh experience increasing net income but decreasing cash flow from operations during this...

Harmon Household Products, Inc., manufactures consumer items for general household use. One of these products, a chopping board, requires an expensive hardwood. During a recent month, the company...

Should internal auditors be members of systems development teams that design and implement an AIS? Why or why not?

Auditing an accounting information system requires knowledge and skills in both accounting and computers. However, most auditors may not have sufficient expertise in the technical side of computing...

Which of the following best illustrates an internal auditor's professional proficiency? a. An independent mental attitude. b. The ability to plan audits ancj to meet schedules. c. The ability to...

Design a new student or employee orientation program to offer information and socialization opportunities for incoming students or staff. Your design should be based on a blended learning approach...

Which of the following should be defined in the charter of the internal auditing department? a. Types of departmental activity reports to be prepared and to whom they should be distributed. b....

Internal Audit Capabilities and Needs Synopsis the responsibilities of internal audit functions have increased substantially in scope and complexity, creating the need for a commensurate increase...

The purpose of this assignment is to: Introduce you to the concepts and practices of job analysis while providing an opportunity to see how these concepts are applied to actual jobs. Determine the...

What is the knowledge, skills and personal abilities an OD consultant needs to possess?

An auditor's preparation is divided into three levels of knowledge, skills, and disciplines. The highest level is proficiency, followed by understanding and, finally, appreciation. What does it mean...

Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout Southeast Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix,...

In one second, a particle goes from point A to point B moving in a semicircle. Find the magnitude of the average velocity. B 1.0 m

Las proyecciones financieros se realizan sobre los presupuestos tanto de ingresos como de egresos, o sobre el presupuesto maestro Pregunta 3Respuesta Verdadero Falso

The Genetics and IVF Institute conducted a clinical trial of its methods for gender selection. As of this writing, 172 of 211 babies born to parents using the YSORT method were boys. Use a 0.01...

A company enters into a contract to build a house for a customer and determines that this is a single performance obligation. The customer pays a non-refundable 5% deposit at contract inception. The...

Use MATLAB to plot the functions u = 2 log10(60x + 1) and = 3 cos(6x) over the interval 0 x 2. Properly label the plot and each curve. The variables u and represent speed in miles per hour; the...

Refer to the information in Question 14. Assume that Allee has limited experience with a construction project on the same scale as the 10 speedboats. How does this affect the accounting for the...

Use your interval from Exercise 39 to construct and interpret a 90% confidence interval for the total number of seniors planning to go to the prom. Exercise 39. Tonya wants to estimate what...

The correctional practice based on the concept of just deserts and even-handed punishment that calls for fairness in criminal sentencing, in that all persons convicted of a similar offense will...

20. During an operational audit engagement, an auditor compared the inventory turnover rate of a subsidiary with established industry standards in order to (2 Points) 18. The IIA Standards require...

2. Monitoring is an important component of internal control. Which one of the following items would not be an example of monitoring? (2 Points) Data processing management regularly generates...

18. The IIA Standards require internal auditors to have the knowledge, skills and disciplines essential to performing an audit. Which of the following is true considering the level of knowledge or...

Internal auditing is a critical function within organizations as it provides an independent and objective assessment of the organization's operations, processes, and systems. To be a successful...