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Which statement is accurate regarding reporting on the quality assurance and improvement program (OAIP) to conform with the International Standards for the Professional Practice of Internal Auditing?
Which statement is accurate regarding reporting on the quality assurance and improvement program (OAIP) to conform with the International Standards for the Professional Practice of Internal Auditing?A . The chief audit executive (CAE) should report all stages of the OAlP's development and key milestones.B . The CAE should report only...
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...
Which of the following offers the feast evidence that the internal audit activity has achieved organizational independence?
Which of the following offers the feast evidence that the internal audit activity has achieved organizational independence?A . An independent third party has assessed the organization's system of internal controls to be adequate and effective.B . The chief audit executive reports both functionally and administratively to the CEO.C . The...
Which of the following statements is the most appropriate example of the internal audit activity exercising due professional care during an audit of the payroll department?
Which of the following statements is the most appropriate example of the internal audit activity exercising due professional care during an audit of the payroll department?A . Internal auditors ensure that the work program is appropriately designed in order to identify all of the risks surrounding the payroll process.B ....
Which of the following actions would be most effective to help an internal auditor determine how successful the organization has been in communicating the existence of its ethics hotline?
Which of the following actions would be most effective to help an internal auditor determine how successful the organization has been in communicating the existence of its ethics hotline?A . Reviewing the number of anonymous hotline allegations against employee complaints.B . Surveying employees to determine whether they are aware of...
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 tests would best detect instances where personal travel has been claimed?
An internal auditor is reviewing employee travel expenses from the previous six months for fraud. Which of the following tests would best detect instances where personal travel has been claimed?A . Verifying whether claims have been properly authorized for paymentB . Verifying whether claims are properly supported by invoices or...
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 auditsB . More effective interviewsC . Automated risk management strategy toolsD . Reduced assurance costsView AnswerAnswer: D
Which of the following statements is the most appropriate for a chief audit executive to include in the internal audit policy manual in order to promote objectivity?
Which of the following statements is the most appropriate for a chief audit executive to include in the internal audit policy manual in order to promote objectivity?A . Internal auditors may conduct a financial effectiveness engagement in a business unit at any point after being transferred from that area.B ....
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: B
