Writing Good Audit Reports & 5 C's (What Have We Learnt Over The Past Year) Quiz
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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.
- 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?
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