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A bakery chain has a statistical model that can be used to predict daily sales at individual stores based on a direct relationship to the cost of ingredients used and an inverse relationship to rainy days. What conditions would an auditor look for as an indicator of employee theft of food from a specific store?

A. On a rainy day, total sales are greater than expected when compared to the cost of ingredients used.

B. On a sunny day, total sales are less than expected when compared to the cost of ingredients used.

C. Both total sales and cost of ingredients used are greater than expected.

D. Both total sales and cost of ingredients used are less than expected.

Which of the following types of information would an internal auditor expect to find in the supporting documentation for a high-level accounts payable process flowchart?

A. A copy of the new customer request form.

B. An overview of the steps for validating invoices.

C. The number of payments paid before the due date of the invoice.

D. The payment terms and credit limit of the vendor to be paid.

COBIT is primarily designed to:

A. Define auditing standards for information technology auditors.

B. Satisfy information technology regulatory requirements.

C. Provide guidance to govern information technology activities.

D. Assist technology professionals in interpreting technological specifications.

Which of the following does not need to be defined in the internal audit charter?

A. The audit engagements to be performed during the upcoming year.

B. The internal audit activity's position within the organization.

C. The scope of internal audit activities.

D. Management and the board of directors' agreement regarding the roles and responsibilities of the internal audit activity.

Which of the following is a second line of defense in effective risk management and control?

A. Purchasing department.

B. Compliance department.

C. Credit department.

D. Internal audit department.