Effective internal control for purchases generally can be achieved in a well-planned organizational structure with a separate purchasing department that has:

A direct reporting responsibility to the controller of the organization.

B.The responsibility of reviewing purchase orders issued by user departments.

C. The ability to prepare payment vouchers based on the information on a vendors invoice.

D. The authority to make purchases of requisitioned materials and services.

The authority of the internal audit function is limited to that granted by:

Group of answer choices

a. The board and the controller.

b.The board and the chief financial officer.

c. Senior management and the Standards.

d. Management and the board.

An internal auditor who encounters an ethical dilemma not explicitly addressed by The IIAs Code of Ethics should always:

Group of answer choices

a.Seek the counsel of the audit committee before deciding on an action.

b.Take action consistent with the principles embodied in The IIAs Code of Ethics.

c.Act consistently with the employing organizations code of ethics even if such action would not be consistent with The IIAs Code of Ethics.

d. Seek counsel from an independent attorney to determine the personal consequences of potential actions.