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According to the IIA guidance, who is responsible for periodically assessing the internal audit activity?
According to the IIA guidance, who is responsible for periodically assessing the internal audit activity?A . The board.B . The chief audit executive.C . Senior management.D . The external auditors.View AnswerAnswer: B
Which of the following conditions is the most likely indicator of fraud?
Which of the following conditions is the most likely indicator of fraud?A . Commissions are paid based on verified increases to sales.B . Departmental reports are consistently issued in an untimely manner.C . A manager regularly assumes subordinates' duties.D . Lower earnings occur during the industry's down cycle.View AnswerAnswer: C
Which type of control does this scenario represent?
A computer system automatically locks a user's account after three unsuccessful attempts to log on. Which type of control does this scenario represent?A . Corrective control.B . Preventive control.C . Detective control.D . Compensating control.View AnswerAnswer: B
Cost of the engagement versus the potential benefits.
Cost of the engagement versus the potential benefits.A . 1 and 4 onlyB . 2 and 3 onlyC . 2, 3, and 4 onlyD . 1, 2, 3, and 4View AnswerAnswer: D
Which of the following would be considered a preventive control?
Which of the following would be considered a preventive control?A . A library control log.B . A review of exception reports.C . A password lock on a server.D . A software scan of financial records for irregularities.View AnswerAnswer: C
An internal auditor notes that employees are able to download files from the internet. According to IIA guidance, which of the following strategies would best protect the organization from the risk of copyright infringement and licensing violations resulting from this practice?
An internal auditor notes that employees are able to download files from the internet. According to IIA guidance, which of the following strategies would best protect the organization from the risk of copyright infringement and licensing violations resulting from this practice?A . Apply antivirus and patch management software.B . Utilize...
Justified and necessary, according to the IIA Code of Ethics and Standards.
Justified and necessary, according to the IIA Code of Ethics and Standards.A . 1 onlyB . 2 onlyC . 3 onlyD . 1 and 2 onlyView AnswerAnswer: C
Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?
Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?A . The internal auditor reviews the physical access to merchandise during an inventory count.B . The audit manager conducts an internal quality assessment of the internal...
