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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...
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?A . When a manufacturing organization has stable demand for its products.B . When an organization is subjected to strong political and social pressuresC . When a manufacturer has reliable resources and suppliers.D . When...
According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?
According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?A . It documents the audit steps and procedures to be performed.B . it documents preliminary information useful to the audit team.C . It documents events that could hinder the achievement...
According to IIA guidance, which of the following would be the best first step to manage risk when a third party is overseeing the organization’s network and data'?
According to IIA guidance, which of the following would be the best first step to manage risk when a third party is overseeing the organization’s network and data'?A . Creating a comprehensive reporting system for vendors to demonstrate their ongoing due diligence in network operations.B . Drafting a strong contract...
Identify and mitigate risks to help meet the CSR program objectives
Identify and mitigate risks to help meet the CSR program objectivesA . 1,2, and 3.B . 1.2. and 4.C . 1, 3, and 4.D . 2. 3. and 4.View AnswerAnswer: B Explanation: According to the Institute of Internal Auditors (IIA) guidance, internal audit activities can encompass several aspects of evaluating...
Organizations that adopt just-in-time purchasing systems often experience which of the following?
Organizations that adopt just-in-time purchasing systems often experience which of the following?A . A slight increase in carrying costs.B . A greater need for inspection of goods as the goods arriveC . A greater need for linkage with a vendors computerized order entry system.D . An Increase in the number...
If the chief audit executive (CAE) is uncertain that the current audit team has all the required knowledge to conduct the engagement, which of the following would be the most appropriate course of action for the CAE to take to preserve independence?
The audit plan requires a review of the testing procedures used in pre-production of a large information system prior to its live launch. If the chief audit executive (CAE) is uncertain that the current audit team has all the required knowledge to conduct the engagement, which of the following would...
Which of the following best demonstrates that the internal audit activity is using due professional care?
Which of the following best demonstrates that the internal audit activity is using due professional care?A . The internal audit activity reports directly to the board on the engagements it performs.B . Internal auditors undertake the necessary training to complete their audit work.C . The completion of engagements is based...
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?A . The internal assessment results should be discussed once every five yearsB . The rating conclusions and the impact from results of the external assessment...
Which of the following would be the most appropriate next step for the auditor?
While conducting an engagement in the procurement department, the internal auditor noticed that the department head’s travel reports showed minor travel expenses, and there were no charges for hotels, meals, or transportation However, the auditor knew that the department head frequently traveled worldwide to meet with suppliers and visit their...
