To provide for the greatest degree of independence in performing internal audit activities, the internal audit function most likely should report to the 

Short Essay.  Consider the two management assertions, existence and completeness.  Suppose you are testing the existence and completeness assertions for sales revenue.  Your client has these accounting documents related to the sales process: sales journal, sales invoices, and shipping documents. Define what existence means for the sales revenue account. What is the direction of the audit test for existence?  Show or describe the direction or flow of the documents for the audit test. Define what completeness means for the sales revenue account. What is the direction of the audit test for completeness?  Show or describe the direction or flow of the documents for the audit test.

Which of the following presumptions does not relate to the appropriateness of audit evidence? 

An auditor obtains knowledge about a new client’s business and its industry in order to 

Because of the risk of material misstatement, an audit of financial statements in accordance with generally accepted auditing standards should be planned and performed with an attitude of 

The risk of material misstatement differs from detection risk in that it 

Auditors are most likely to use the most rigorous audit procedures to examine 

The materiality amount set for a certain cycle or account balance is called

The Audit Committee consists of 

When an auditor increases the assessed level of risk of material misstatement because certain control procedures were determined to be ineffective, the auditor would most likely increase the