IIA-Certified Internal Auditor - Part 2, Conducting the Internal Audit Engagement Set 2

Which of the following methods would an auditor most likely use to document a complex sales order process?

An internal auditor is evaluating controls over the purchasing function. The function includes the material control department, the purchasing department, and the receiving department. Which of the following is true regarding the presentation of the process flow among the three departments?

A fast-food company is developing a computer simul-ation involving arrival time at a drive-through restaurant. The distribution for arrival times is:
Time
Single-Digit Random
Between Arrivals
Probability
Number Assigned
1 minute
0.1
2 minutes
0.2
1, 2
3 minutes
0.3
3, 4, 5
4 minutes
0.4
6, 7, 8, 9
Six random numbers are selected to represent the arrival of six cars: 1, 6, 9, 0, 5, 6. The mean time between arrivals for these cars, in this run of the simul-ation model, is:

The internal auditor of a bank has developed a multiple regression model which has been used for a number of years to estimate the amount of interest income from commercial loans. During the current year, the auditor applies the model and discovers that the R2 value has decreased dramatically, but that the model otherwise seems to be working correctly. Which of the following conclusions is justified by the change?

Five brand managers in a consumer products company met to determine how well certain promotions had performed. The data that they needed to analyze consisted of approximately 50 gigabytes of daily point-of- sale (POS) data for each month. The brand managers tried to download the POS data from the mainframe and import it into microcomputer spreadsheets for analysis. Their efforts were unsuccessful, most likely because oF.

After completing a net present value (NPV) calculation on a proposed project, an analyst explores the change in NPV with changes in the interest rate. This additional analysis is referred to as:

A company used simple regression analysis to analyze maintenance costs against machine hours (MH) for a 26-week period when the plant was in full operation. The regression yielded the following estimated cost
function:
Maintenance Cost = $60 + $0.25/MH
The regression analysis also generated a coefficient of determination (R2), or goodness of fit, of 0.85.
Which of the following statements regarding this regression analysis is appropriate?

Which of the following techniques could be used to evaluate the effectiveness of changes to the operation of a computer help line?

One method for dealing with the uncertainty of demand forecasts used in linear programming is to extend the model solution to include.

Which of the following factors is least essential to a successful control self-assessment workshop?