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Which of the following statements best illustrates why internal auditors assess soft controls?
Which of the following statements best illustrates why internal auditors assess soft controls?A . Assessing soft controls are an effective method of assessing risk related to personnel. B. Assessing soft controls, as opposed to hard controls, makes it easier to evaluate operating effectiveness. C. Assessing soft controls can help internal...
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...
Which of the following organization wide practices is most likely to be acceptable to the CAE?
A newly appointed chief audit executive (CAE) started analyzing the organization's policies in an attempt to customize them to address internal audit specifics. Which of the following organization wide practices is most likely to be acceptable to the CAE?A . Internal auditors1performance evaluation is primarily based on both client satisfaction...
According to NA guidance, which of the following conditions would enhance the independence of the internal audit activity?
According to NA guidance, which of the following conditions would enhance the independence of the internal audit activity?A . The organizational culture rewards critical and objective thinking. B. The quality of work performed by the internal audit activity is periodically reviewed, C. The organization establishes effective governing body oversight, D....
Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.
Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.A . 1 and 2 only. B. 2 and 3 only. C. 2 and 4 only. D. 3 and 4 onlyView AnswerAnswer: A
Which of the following would be the most effective way to approach this issue?
A series of incidents over the past year reveals several members of senior management possess a limited understanding of the concept and impact of fraud. Which of the following would be the most effective way to approach this issue?A . The board should ask the internal audit activity to perform...
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?A . Results of internal assessments need to be reported to the board at least once every five years. B. The external assessor must present the findings from the...
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?A . The internal assessment results should be discussed once every five years, B. The rating conclusions and the impact from results of the external assessment...
Which of the following statements best demonstrates application of due professional care during an assurance engagement?
Which of the following statements best demonstrates application of due professional care during an assurance engagement?A . The engagement detected irregularities and noncompliance instances. B. The engagement supervisor had no significant comments in the supervisory review. C. The audit procedures were systematically planned, executed, and documented. D. The engagement objectives...
Which of the following would be a potential concern if the board member’s suggestion is adopted?
The board of a newly established organization was discussing the contents of the draft internal audit charter One board member suggested adding to the charter an obligation for the internal audit activity to develop controls in business procedures. The board member explained that the new organization needs professional-level developers, internal...
