An audit observation noted that annual inventory counts of biofuel was not being performed appropriately...

Vendor: IIA
Product: IIA-CIA-Part2
Update on: Jul 25, 2025
Questions: 495

IIA IIA-CIA-Part2 Question Answer

An audit observation noted that annual inventory counts of biofuel was not being performed appropriately Fuel yards were not visited and physical amounts of biofuel were not reconciled with accounting data Management of the division understood the issue and promised to resolve the problem When should the internal auditor schedule a follow-up review?

As soon as possible, no later than two months after the audit

When convenient for both parties

When management has indicated that the issue has been resolved

Before financial year end