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IIA-CFSA Exam Dumps - Certified Financial Services Auditor

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Question # 4

Internal audit routinely reviews compliance risk and also should be reviewing business risk. The efforts to control both risk types will purely enhance:

The short-term profitability and viability of an organization

The long-term profitability and viability of an organization

Both short-term and long-term profitability and viability of an organization

None of these

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Question # 5

Some small businesses keep funds in a savings account to gain interest on:

Fixed assets

Liquid assets

Loans

All of these

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Question # 6

The scope of an audit defines the boundaries of the audit by addressing such items as the audit period or number of locations to be reviewed.. Some important considerations when defining the scope of an audit include:

Needs of potential users of the audit report

B Preliminary judgment about materiality levels

Both A and B

None of the above

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Question # 7

The responsibility for preparing and presenting the audited financial statements is that of:

Internal auditor

Engagement client/ Management of the entity

Process owner

Auditing Agency

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