Questions from Auditing and Assurance

Q: Distinguish among the following types of operational audits: functional, organizational

Distinguish among the following types of operational audits: functional, organizational, and special assignment. State an example of each for a not-for-profit hospital.

Q: Explain the role of government auditors in operational auditing. How is

Explain the role of government auditors in operational auditing. How is this similar to and different from the role of internal auditors?

Q: Under what circumstances are external auditors likely to be involved in operational

Under what circumstances are external auditors likely to be involved in operational auditing? Give one example of operational auditing by a CPA firm.

Q: Explain what is meant by the criteria for evaluating efficiency and effectiveness

Explain what is meant by the criteria for evaluating efficiency and effectiveness. Provide five possible specific criteria for evaluating effectiveness of an IT system for payroll.

Q: Identify the three phases of an operational audit.

Identify the three phases of an operational audit.

Q: Explain how planning for operational auditing is similar to and different from

Explain how planning for operational auditing is similar to and different from financial auditing.

Q: What are the major differences between reporting for operational and financial auditing

What are the major differences between reporting for operational and financial auditing?

Q: Lajod Company has an internal audit department consisting of a manager and

Lajod Company has an internal audit department consisting of a manager and three staff auditors. The manager of internal audits, in turn, reports to the corporate controller. Copies of audit reports a...

Q: In testing cash disbursements for the Jay Klein Company, you obtained

In testing cash disbursements for the Jay Klein Company, you obtained an understanding of internal control. The controls are reasonably good, and no unusual audit problems arose in previous years.Alth...

Q: In an annual audit at December 31, 2011, you find

In an annual audit at December 31, 2011, you find the following transactions near the closing date: 1. Merchandise costing $1,822 was received on January 3, 2012, and the related acquisition invoice r...