What typically comes first in an internal audit assignment?
AIssuing the final report
BClosing the audit file
CScope and objectives setting
DTesting a risk-based sample
Answer & Solution
Correct answer: C. Scope and objectives setting
An assignment starts by setting and communicating its scope and objectives to the relevant management.
Keep practising Internal Audit
Browse all Internal Audit questions for CA Final, or explore more Auditing topics.
Related questions
The second line is separate from delivery but is:Management owns internal control; internal auditors:Strategic planning for internal audit may use which framework?Internal audit's role in enterprise risk management is typically:The Sarbanes-Oxley Act, which raised the profession's profile, dates from:Internal audit scope can include proactive audits to identify:Internal audit is often used as what for future managers?Sawyer urged auditors to focus on which type of auditing?