To rely on the work of others, internal audit must be what?

ANSWER: Competent and objective

What methods do you use to get and comprehend internal controls?

ANSWER: Questionnaire, flow charts, observations, interviews

With examples, describe the ranges of audit evidence reliability.

ANSWER: External, from unaffiliated sources outside of the client company.
When it is collected directly from the auditor, it is developed internally through a
system of effective controls.
less trustworthy- when auditors question client staff and review operation
paperwork

What are the differences between unconditional responsibility and presumptively

mandatory responsibility?
In all circumstances where such criteria are relevant, auditors must perform their
responsibilities for unconditional res. Words like must and shall imply
accountability. in the pms Unless there's a good reason not to, you should follow
the rules.

List out 5 business process or transactional cycles.

Revenue, procurement, inventory, fixed assets, period end reporting, payroll