Explain the reasons for have an internal auditing department in an organization.

Question

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Answer 1

Question

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

c)

To determine

State the certifications that are available to internal auditors.

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

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Which item regarding an Emphasis of Matter paragraph is true?a. The auditor will use the E of M to restrict distribution of the audit report.b. The auditor will use the E of M when the client has corrected an error in the previous financial statements.c. An E of M will be used when a material error exists in the current financial statements.d. The E of M paragraph is usually located immediately before the opinion paragraph.e. The E of M paragraph would be used to discuss a client's change in the method to estimate bad debts. Is it D or E?

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Answer 2

Question

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

c)

To determine

State the certifications that are available to internal auditors.

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

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Answer 3

Question

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

c)

To determine

State the certifications that are available to internal auditors.

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

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Answer 4

Question

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

c)

To determine

State the certifications that are available to internal auditors.

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

Expert Solution & Answer

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Answer 5

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

c)

To determine

State the certifications that are available to internal auditors.

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

Answer 6

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

Answer 7

Chapter 26, Problem 21DQP

a)

To determine

Explain the reasons for have an internal auditing department in an organization.

Answer 8

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

Answer 9

b)

To determine

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

Answer 10

c)

To determine

State the certifications that are available to internal auditors.

Answer 11

c)

To determine

State the certifications that are available to internal auditors.

Answer 12

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

Answer 13

d)

To determine

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 26 - Prob. 1RQ Ch. 26 - Prob. 2RQ Ch. 26 - Prob. 3RQ Ch. 26 - Prob. 4RQ Ch. 26 - Prob. 5RQ Ch. 26 - Prob. 6RQ Ch. 26 - Prob. 7RQ Ch. 26 - Prob. 8RQ Ch. 26 - Prob. 9RQ Ch. 26 - Prob. 10RQ

Explain the reasons for have an internal auditing department in an organization.

Solution Summary: The author explains the reasons for having an internal auditing department in an organization; management is accountable for setting up and maintaining a system of internal controls.

Explain the reasons for have an internal auditing department in an organization.

Identify the six steps to receiving a certification in internal auditing as a Certified Internal Auditor (CIA).

State the certifications that are available to internal auditors.

Identify the three parts of the CIA exam, requirements for passing the CIA exam similar to and different from those of the CPA exam.

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Chapter 26 Solutions