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Which of the following is an example of a detective control?
Which of the following is an example of a detective control?A . Automatic shut-off valve. B. Auto-correct software functionality. C. Confirmation with suppliers and vendors. D. Safety instructions.View AnswerAnswer: C
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?A . Senior management will be present whenever the CAE interacts with the board, to ensure...
Which of the following is the IIA Code of Ethics principle that the auditor upheld?
After being assigned to an audit of the accounts payable process, an internal auditor privately notifies the chief audit executive that she is a finalist for an open manager position within the accounts payable department. Which of the following is the IIA Code of Ethics principle that the auditor upheld?A...
Which of the following would be the most appropriate approach?
The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review. Which of the following would be the most appropriate approach?A . An internal auditor who recently attended a...
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?A . Department performance standards. B. Remediation timeframes. C. Nonconformance disclosures. D. External assessment resourcesView AnswerAnswer: D
According to IIA guidance, which of the following statements is most relevant regarding the actions of the auditor?
At a conference, an interna! auditor presented a new computer-assisted audit technique developed by his organization. The presentation included sample data derived from performing audit engagements for the organization. Travel costs were paid by the conference organizers, and the trip was approved by the chief audit executive (CAE). However, neither...
Which of the following is most likely to be considered a control weakness?
Which of the following is most likely to be considered a control weakness?A . Vendor invoice payment requests are accompanied by a purchase order and receiving report. B. Purchase orders are typed by the purchasing department using prenumbered forms. C. Buyers promptly update the official vendor listing as new supplier...
Which of the following statements is true regarding electronic funds transfer (EFT)?
Which of the following statements is true regarding electronic funds transfer (EFT)?A . EFT is a popular mechanism for improving efficiency, but results in less internal control. B. EFT significantly reduces the risk of fraud by eliminating the need for authorizations. C. EFT eliminates payment delays due mostly to the...
Which of the following is an example of a directive control?
Which of the following is an example of a directive control?A . Segregation of duties. B. Exception reports. C. Training programs. D. Supervisory review.View AnswerAnswer: C
Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity’s knowledge, skills, and competencies?
Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity’s knowledge, skills, and competencies?A . Complete a skills assessment of the internal audit activity based on. The IIA Global Internal Audit Competency Framework. B. Develop a...
