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Which of the following best demonstrates internal auditors performing their work with proficiency?
Which of the following best demonstrates internal auditors performing their work with proficiency?A . Internal auditors meet with operational management at each phase of the audit process. B. Internal auditors adhere to The IIA’s Code of Ethics. C. Internal auditors work collaboratively with their engagement team. D. Internal auditors complete...
Which of the following situations undermines the independence of the internal audit activity?
Which of the following situations undermines the independence of the internal audit activity?A . The internal audit activity is responsible for the company's risk management function, and its head manager reports to the chief audit executive. B. A senior member of the internal audit activity once worked in the corporate...
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....
According to the 11A Code of Ethics, which of the following is required with regard to communicating results?
According to the 11A Code of Ethics, which of the following is required with regard to communicating results?A . The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization. B. The internal auditor should disclose all...
Which of the following types of controls should she examine?
An internal auditor observed that sales staff are able to modify or cancel an order in the system prior to shipping* She wonders whether they can also modify orders after shipping. Which of the following types of controls should she examine?A . Batch controls. B. Application controls. C. General IT...
Which of the following controls would best mitigate the risk of fraud in the bidding process?
Which of the following controls would best mitigate the risk of fraud in the bidding process?A . Have a bidding committee open the tender bids. B. Restrict the time to submit tender bids. C. Keep minutes of pre-bid meetings. D. Allow the higher tenders to rebid.View AnswerAnswer: B
Which of the following types of policies best helps promote objectivity in the interna! audit activity's work?
Which of the following types of policies best helps promote objectivity in the interna! audit activity's work?A . Policies that are distributed to all members of the internal audit activity and require a signed acknowledgment, B. Policies that match internal auditors' performance with feedback from management of the area under...
Which of the following best describes the type of risk that an adequately designed and effectively operating system of internal controls should mitigate?
Which of the following best describes the type of risk that an adequately designed and effectively operating system of internal controls should mitigate?A . Net. B. Controllable. C. inherent, D. Residual.View AnswerAnswer: C
However, neither management nor the CAE was aware that the internal auditor would be making a presentation based on work completed for the organization. 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...
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 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...
