Audit Report Writing Quiz! Trivia

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| By Markg23
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Markg23
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Quizzes Created: 10 | Total Attempts: 3,214
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  • 1/10 Questions

    A report is written only to be read by the Auditor.

    • True
    • False
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About This Quiz

The Audit Report Writing Quiz! Trivia tests your understanding of effective audit communication. It covers key aspects like the importance of the report title, elements that capture attention, and the role of recommendations. Essential for auditors aiming to enhance report impact and clarity.

Audit Report Writing Quiz! Trivia - Quiz

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  • 2. 

    What is the correct statement in determining Criteria?

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

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

    • Criteria should not be consulted with the audit client.

    • Draft policies should not be used as criteria.

    Correct Answer
    A. Criteria are not just limited to formalized policies, procedures and guidelines.
    Explanation
    The correct statement in determining Criteria is that they are not just limited to formalized policies, procedures, and guidelines. This means that criteria can be derived from other sources as well, such as industry best practices, expert opinions, or specific organizational needs. It emphasizes that criteria should not be restricted to only what is documented in formalized documents, but should consider a broader range of factors to ensure comprehensive evaluation.

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  • 3. 

    Recommendations are given to correct the ______________

    • Cause

    • Consequence

    • Criterion

    • Corrective action

    Correct Answer
    A. Cause
    Explanation
    The correct answer is "Cause". Recommendations are given to correct the cause of a problem or issue. Identifying and addressing the cause of a problem is essential in order to prevent the same issue from recurring in the future. By understanding the root cause, corrective actions can be implemented to resolve the problem and prevent any negative consequences or impacts.

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  • 4. 

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

    • Correction action

    • Cause

    • Consequence

    • Criteria

    Correct Answer
    A. Cause
    Explanation
    The given correct answer is "Cause". In order for our work to have a lasting value, it is essential to identify the cause of the condition. Understanding the cause helps us address the root of the problem and implement effective solutions. By identifying the cause, we can prevent the condition from recurring and ensure that our work has a long-lasting impact.

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  • 5. 

    What portion of the report causes the management to take note?

    • Condition

    • Title

    • Consequence

    • Corrective action

    Correct Answer
    A. Consequence
    Explanation
    The portion of the report that causes the management to take note is the consequence. Consequences refer to the outcomes or results of a particular action or event. In a report, the consequences section would typically outline the impact or implications of certain decisions or events. Management is likely to pay attention to this section as it provides valuable information on the potential risks, benefits, or drawbacks associated with specific actions, helping them make informed decisions and take appropriate measures to address any negative consequences.

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  • 6. 

    The part of the report that is important in catching the reader’s attention?

    • Condition

    • Title

    • Consequence

    • Management response

    Correct Answer
    A. Title
    Explanation
    The title of a report is important in catching the reader's attention because it provides a concise and clear summary of the content. A well-crafted title can effectively convey the main idea or purpose of the report, making it more enticing for the reader to continue reading. It sets the tone for the entire document and helps the reader understand what to expect. A catchy and intriguing title can grab the reader's attention and make them curious to delve into the report further.

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  • 7. 

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

    • Correct identification of the cause and more appropriate recommendation.

    • Clearer and well presented audit report.

    • Timely audit report.Feasibility report, CBO Minutes

    • Risk focus and value adding audit report.

    Correct Answer
    A. Timely audit report.Feasibility report, CBO Minutes
    Explanation
    The benefit of using the 5C's in the WV Philippine audit team is not a timely audit report, feasibility report, or CBO minutes. The 5C's (Clear, Concise, Complete, Correct, and Courteous) help in achieving a clearer and well-presented audit report, correct identification of the cause and more appropriate recommendation, and a risk-focused and value-adding audit report. However, timeliness, feasibility reports, and CBO minutes are not directly related to the use of the 5C's in the audit process.

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  • 8. 

    What is the incorrect statement for Cause?

    • Cause answers the question why did the condition happen?

    • Cause tells the audit client why the condition exists?

    • Cause cannot be the same for different conditions?

    • Cause can sometimes be interchange with condition?

    Correct Answer
    A. Cause cannot be the same for different conditions?
    Explanation
    The incorrect statement for Cause is "Cause cannot be the same for different conditions." This statement is incorrect because the same cause can lead to different conditions. A cause is the reason behind a particular condition or event, and it can manifest in various ways, resulting in different conditions. Therefore, it is possible for the same cause to be associated with different conditions.

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  • 9. 

    The title usually includes the _____________

    • Criterion

    • Condition

    • Cause

    • Corrective action

    Correct Answer
    A. Cause
    Explanation
    The title usually includes the cause. The cause refers to the reason or factor that leads to a particular event or outcome. In many cases, the title of a document or report will highlight the cause of a problem or issue that is being addressed. This helps to provide a clear focus and understanding of what the document is about.

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  • 10. 

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

    • Condition and Cause

    • Cause and Corrective Action

    • Criteria and Consequence

    • Criteria and Cause

    Correct Answer
    A. Criteria and Cause
    Explanation
    The two most challenging attributes for WV Philippines internal auditors are criteria and cause. Criteria refers to the standards or benchmarks that need to be met in order to assess the effectiveness of internal controls and processes. This can be challenging as it requires a deep understanding of industry standards and best practices. Cause refers to the root cause of any identified issues or deficiencies in the internal controls. Identifying the cause requires thorough investigation and analysis to determine the underlying factors contributing to the problem.

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Quiz Review Timeline (Updated): Mar 20, 2023 +

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  • Current Version
  • Mar 20, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Oct 17, 2011
    Quiz Created by
    Markg23
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