Outsource the audit engagement to a qualified external auditing firm without burdening
the audit committee with the decision.

Determine the requisite knowledge needed,and obtain the proper training for
auditors,even if the training will significantly push back the project's timeframe as outlined
by the audit committee.

Notify the audit committee of the problem,and assign the most competent auditors on
staff to perform the audit engagement.

Employ the skills of a financial derivatives expert to consult on the project,and
supplement the consulting with a local seminar on financial derivatives.

Attending technical session meetings held by state auditing organizations.

Completing all audit engagements in accordance with the Standards.

Publishing an article on the organization's internal audit department.

Participating in a formal in-house training program.

Favors from a supplier that is attempting to gain advantage when selling its products.

Unlawful conversion of assets that are in the possession of an employee.

Misrepresentation of material facts in order to mislead others to part with something of
value.

Stealing of material of value by unknown persons from outside the organization.

 1 and 2.

 1 and 4.

2 and 3.

 2 and 4.

The sample to be representative of the population.

The sample to be selected haphazardly.

A smaller sample size than if selected using statistical sampling.

Projecting the results to the population.

Invoices are not being mailed to customers.

An employee is tampering with customer checks.

Employees are submitting fraudulent expense reports.

The customer service department is not forwarding complaints to the accounts
receivable department.

Borrowers may not sign all required mortgage loan documentation.

Fees paid by the borrower at the time of the loan may not be deposited in a timely manner.

The bank's loan documentation may not meet the government's disclosure requirements.

Loan officers may override the lending criteria established by senior management.

General purpose audit software.

Voting software and hardware.

Flowcharting and data capture software.

Risk assessment software.