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According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization’s social responsibility program is effective?
According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization’s social responsibility program is effective?A . Senior managementB . Internal audit activity.C . All employees.D . Board of directors.View AnswerAnswer: D
Which of the following statements best describes a functional difference between external auditors and internal auditors?
Which of the following statements best describes a functional difference between external auditors and internal auditors?A . Internal auditors evaluate past achievements to understand whether controls are operating effectively, and external auditors focus on the accuracy of financial reporting.B . Internal auditors provide assurance about the sufficiency of controls to...
Which of the following specifications in an internal audit charter is the most important factor in the internal audit activity’s independence?
Which of the following specifications in an internal audit charter is the most important factor in the internal audit activity’s independence?A . Description of internal audit activity's responsibilitiesB . Definition of internal auditingC . Statement of internal audit activity's authorityD . Description of internal audit activity's reporting structureView AnswerAnswer: D
This decision is primarily intended to mitigate which of the following risks?
Management decided to post the organization's newly established code of conduct on its website. This decision is primarily intended to mitigate which of the following risks?A . Accountability risk.B . Communication risk.C . Knowledge risk.D . Cultural risk.View AnswerAnswer: B
Which of the following situations is most likely to prompt the internal audit activity to disclose its nonconformance with the Standards?
Which of the following situations is most likely to prompt the internal audit activity to disclose its nonconformance with the Standards?A . One of the organization's senior internal auditors owns a side business, though to date, no sales have been made to this business.B . The annual internal audit plan...
This activity is designed to prevent which of the following conditions?
IT management requires all employees in the IT department to attend annual training on the department’s mission values and key performance measures This activity is designed to prevent which of the following conditions?A . Knowledge’s kills gapB . Monitoring gapC . Accountability/reward failureD . Communication failureView AnswerAnswer: D
Which of the following practices is generally most effective to protect internal audit objectivity?
Which of the following practices is generally most effective to protect internal audit objectivity?A . Ensuring regular documentation of auditor skills and experience in the workpapers.B . Basing performance evaluations heavily on customer satisfaction surveys.C . Prohibiting auditors from accepting gifts from audit clients or potential clients.D . Ensuring that...
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 makingB . 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...
When the chief audit executive Is responsible for risk management in an organization, which of the following parties is responsible for overseeing the internal audit activity's assurance over risk management?
When the chief audit executive Is responsible for risk management in an organization, which of the following parties is responsible for overseeing the internal audit activity's assurance over risk management?A . The chief audit executive.B . A member of the compliance function.C . A party outside of the internal audit...
Who has the ultimate responsibility of implementing the organization’s governance system?
Who has the ultimate responsibility of implementing the organization’s governance system?A . StakeholdersB . The boardC . The chief executive officerD . Internal auditorsView AnswerAnswer: B
