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Which of the following justifies inclusion of this clause in the reports?
An internal audit activity maintains a quality assurance and improvement program that includes annual self-assessments. The internal audit activity includes in each engagement report a clause that the engagement is conducted in conformance with the International! Standards for the Professional Practice of Internal Auditing (Standards). Which of the following justifies...
In which of the following ways can a chief audit executive demonstrate to the board that the internal audit activity collectively possesses all of the skills needed to complete its annual goals?
In which of the following ways can a chief audit executive demonstrate to the board that the internal audit activity collectively possesses all of the skills needed to complete its annual goals?A . Involve board members in hiring activities and request advice. B. Require all internal audit staff to complete...
Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?
Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?A . Workshops. B. Surveys. C. Interviews. D. Observation.View AnswerAnswer: B
Which of the following best describes this type of risk?
A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annual snowfall for the coming winter. Which of the following best describes this type of risk?A . Residual. B. Net. C. Inherent. D. Accepted.View AnswerAnswer: C
Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?
Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?A . Internal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization’s control processes. B. Quality assessments focus on the internal...
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?A . Investigation of health and safety incidents. B. Auditing of controls and management systems. C. Communication of disclosures and external reporting, D. Involvement in focus groups and complaint managementView AnswerAnswer: C
Which of the following best demonstrates that the internal audit activity is using due professional care?
Which of the following best demonstrates that the internal audit activity is using due professional care?A . The internal audit activity reports directly to the board on the engagements it performs. B. Internal auditors undertake the necessary training to complete their audit work. C. The completion of engagements is based...
According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?
A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?A . Assign the engagement to a...
In which of the following situations may the internal audit activity report conformance with the Standards?
In which of the following situations may the internal audit activity report conformance with the Standards?A . An internal audit activity has been in existence at least five years and has not completed an external assessment, B. An internal auditor was assigned to an audit engagement but did not meet...
Which of the following is the most appropriate idea to include?
A regional entertainment organization is in the process of developing a corporate social responsibility (CSR) policy. Management invites ideas from employees when developing the CSR policy. Which of the following is the most appropriate idea to include?A . Management has overall responsibility for the effectiveness of governance, risk management, and...
