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Which of the following organizationwide 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 organizationwide practices is most likely to be acceptable to the CAE?A . Internal auditors1performance evaluation is primarily based on both client satisfaction surveys...
Which of the following skills did the auditor demonstrate?
During an assurance engagement, an internal auditor uses benchmarking research to support preparation of a report to stakeholders that contains significant findings about control deficiencies. Which of the following skills did the auditor demonstrate?A . Internal audit management. B. Conflict negotiation. C. Critical thinking. D. Persuasion and collaboration.View AnswerAnswer: C
Which of the following best illustrates the application of due professional care during an audit of the procurement department?
Which of the following best illustrates the application of due professional care during an audit of the procurement department?A . The internal auditor began checking purchase requisitions for proper authorizations. He stopped when he discovered an instance of noncompliance. and he concluded the controls were ineffective. B. The internal auditor...
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 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 best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?
Which of the following best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?A . Regulatory approval from an accrediting agency. B. Self-assessments against a competency framework. C. Approval and signoff from the board of directors. D. A review by external auditors on an annual basisView...
independence?
Which of the following would be considered a violation of The HAfs mandatory guidance on independence?A . The chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer. B. The board seeks senior management's recommendation before approving the annual salary adjustment of the CAE....
According to NA guidance, which of the following provides the best evidence of conformance with the Standards with respect to the proficiency required of the internal audit activity?
According to NA guidance, which of the following provides the best evidence of conformance with the Standards with respect to the proficiency required of the internal audit activity?A . Discussions with the chief audit executive. B. A listing of employee profiles and certifications. C. Inquiry of external auditors. D. Validation...
resolution?
If the skills and competencies are not present within the internal audit activity to complete an ad-hoc assurance engagement, which of the following is an acceptable resolution?A . Politely decline the engagement due to a lack of qualified staff available at the time. B. Complete the engagement as requested, with...
Which of the following would be the most effective fraud prevention control?
Which of the following would be the most effective fraud prevention control?A . Email alert sent to management for checks issued over $100,000. B. Installation of a video surveillance system in a warehouse prone to inventory loss. C. New hire training to explain fraud and employee misconduct. D. Daily report...
