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Which of the following describes the primary objective when implementing a risk management framework?
Which of the following describes the primary objective when implementing a risk management framework?A . To achieve planned profitability for business expansion. B. To enhance an organization's confidence in achieving strategy. C. To strengthen corporate governance standards. D. To eliminate business risks and uncertainties.View AnswerAnswer: B
Which of the following describes the most appropriate match between a potential temporary guest auditor candidate and an upcoming audit assignment?
Which of the following describes the most appropriate match between a potential temporary guest auditor candidate and an upcoming audit assignment?A . A purchasing manager with two years of prior audit experience in public practice to lead a contracts management audit B. A communications officer who worked in the marketing...
With regard to the internal audit activity's quality assurance and improvement program, which of the following topics would the chief audit executive include on the quarterly board meeting agenda?
With regard to the internal audit activity's quality assurance and improvement program, which of the following topics would the chief audit executive include on the quarterly board meeting agenda?A . The scope and frequency of both internal and external quality assessments. B. The list of audit engagements that will be...
To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?
A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed...
It describes the expectations for communicating the results of a quality assurance and Improvement program.
It describes the expectations for communicating the results of a quality assurance and Improvement program.A . 1 and 4 only. B. 3 and 4 only. C. 1.2. and 4. D. 2. 3. and 4.View AnswerAnswer: D
According to HA guidance, which of the following would best support the internal auditor's conclusion that the organization's risk management processes are effective?
According to HA guidance, which of the following would best support the internal auditor's conclusion that the organization's risk management processes are effective?A . The organization has identified all applicable operational and financial risks. B. The organization has documented its strategic and business objectives. C. The organization has selected risk...
What is the primary purpose of The IIA's Code of Ethics?
What is the primary purpose of The IIA's Code of Ethics?A . Communicate specific activities appropriate to the performance of internal auditing B. Promote ethical culture within corporations and other business organizations C. Establish mandatory standards of competence for the practice of internal auditing D. Establish principles and expectations governing...
Which of the following actions, if taken by the chief audit executive, could address these concerns?
Senior management and the board have expressed concerns about the length of engagements and whether their outcome aligns with the organization's strategies and objectives. Which of the following actions, if taken by the chief audit executive, could address these concerns?A . Communicating to internal audit staff instructions for completing engagements...
Which of the following would best help the organization manage the risk of fraud?
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted. Which of the following would best help the organization manage the risk of fraud?A . Accounting personnel should regularly perform reconciliation between invoices and purchase orders B. Accounting personnel should conduct a...
In this scenario, which of the following statements is true?
An internal auditor at a multinational organization is reviewing the effectiveness of the organization's risk management framework. In this scenario, which of the following statements is true?A . The auditor should consider local cultures and customs in various regions when assessing control effectiveness. B. Regardless of their location, employees at...
