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Writing Good Audit Reports & 5 C's (what Have We Learnt Over The Past Year) Quiz

10 Questions
Writing Quizzes & Trivia

This quiz is to test your ability to understand Writing Good Audit Reports (First five questions) and 5 C's (What have we learnt over the past year) - questions 6 to 10. Please choose the best answer.

Questions and Answers
  • 1. 
    A report is written only to be read by the Auditor.
    • A. 

      True

    • B. 

      False

  • 2. 
    • A. 

      Criterion

    • B. 

      Condition

    • C. 

      Cause

    • D. 

      Corrective action

  • 3. 
    The part of the report that is important in catching the reader’s attention?
    • A. 

      Condition

    • B. 

      Title

    • C. 

      Consequence

    • D. 

      Management response

  • 4. 
    What portion of the report causes the management to take note?
    • A. 

      Condition

    • B. 

      Title

    • C. 

      Consequence

    • D. 

      Corrective action

  • 5. 
    Recommendations are given to correct the ______________
    • A. 

      Cause

    • B. 

      Consequence

    • C. 

      Criterion

    • D. 

      Corrective action

  • 6. 
    In WV Philippine audit team, what is not the benefit of using the 5C’s?
    • A. 

      Correct identification of the cause and more appropriate recommendation.

    • B. 

      Clearer and well presented audit report.

    • C. 

      Timely audit report.Feasibility report, CBO Minutes

    • D. 

      Risk focus and value adding audit report.

  • 7. 
    It is only when we identify the _______ of the condition that our work will have a lasting value?
    • A. 

      Correction action

    • B. 

      Cause

    • C. 

      Consequence

    • D. 

      Criteria

  • 8. 
    Among the 5C’s what are the two most challenging attributes for WV Philippines internal auditors?
    • A. 

      Condition and Cause

    • B. 

      Cause and Corrective Action

    • C. 

      Criteria and Consequence

    • D. 

      Criteria and Cause

  • 9. 
    What is the correct statement in determining Criteria?
    • A. 

      Criteria are not just limited to formalized policies, procedures and guidelines.

    • B. 

      Criteria are not the standard that should have existed in an organization.

    • C. 

      Criteria should not be consulted with the audit client.

    • D. 

      Draft policies should not be used as criteria.

  • 10. 
    What is the incorrect statement for Cause?
    • A. 

      Cause answers the question why did the condition happen?

    • B. 

      Cause tells the audit client why the condition exists?

    • C. 

      Cause cannot be the same for different conditions?

    • D. 

      Cause can sometimes be interchange with condition?