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Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?
Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?A . The CAE tasks internal auditors with coordinating assurance activities with other providers across the organization. B. The CAE encourages auditors to volunteer to...
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...
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?A . The CAE reports administratively to the CEO. B. The CAE is asked to submit the liquidation of her travel allowances to human resources for approval. C. The...
What concerns should be considered prior to assigning the audit to the same auditor?
The same internal auditor has audited the regional purchasing department annually for the last three years. The audits have shown several significant control deficiencies that have not been corrected by management. New management is in charge of this regional purchasing department, and it is time to audit the department again....
Which of the following is true about corporate social responsibility (CSR)?
Which of the following is true about corporate social responsibility (CSR)?A . Social and environmental considerations are required parts of an organization's decision making B. The Global Reporting Initiative provides standards on required disclosures of CSR. C. CSR activities are overseen and managed by operational management. D. Internal auditors can...
According to IIA guidance, the internal audit activity must be free from interference in which of the following areas in order to maintain organizational independence?
According to IIA guidance, the internal audit activity must be free from interference in which of the following areas in order to maintain organizational independence?A . Monitoring resources. B. Compensating the chief audit executive. C. Determining scope. D. Allocating internal costs.View AnswerAnswer: B
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?A . Segregating duties in the payroll processes. B. Confirming receipt of goods or services. C. Performing background checks on newly hired...
Which of the following statements is true regarding a key difference between assurance and consulting services provided by the internal audit activity?
Which of the following statements is true regarding a key difference between assurance and consulting services provided by the internal audit activity?A . When conducting a consulting engagement, the nature and scope of the engagement are determined by the internal audit activity. B. Three parties are participants in assurance services,...
Which of the following is true regarding impairment to the auditor's objectivity?
An organization is considering purchasing a new banking software system and has asked the internal audit activity to evaluate the system. An internal auditor assigned to perform the engagement worked at the software company two years ago and is familiar with the system's design strengths and weaknesses. Which of the...
Which of the following is a primary benefit of implementing a governance risk management and compliance framework within an organization?
Which of the following is a primary benefit of implementing a governance risk management and compliance framework within an organization?A . Fewer internal audits B. More effective interviews C. Automated risk management strategy tools D. Reduced assurance costsView AnswerAnswer: D
