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Which of the following procedures will best help an internal auditor assess operating effectiveness of fraud prevention and detection controls?
Which of the following procedures will best help an internal auditor assess operating effectiveness of fraud prevention and detection controls?A . Benchmarking best practicesB . Testing,C . Mapping,D . InterviewingView AnswerAnswer: B Explanation: Testing is the most effective procedure for assessing the operating effectiveness of fraud prevention and detection controls....
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?
Which of the following needs to be established prior to undertaking an assessment of the quality assurance and improvement program?A . Department performance standards.B . Remediation timeframes.C . Nonconformance disclosures.D . External assessment resourcesView AnswerAnswer: D Explanation: Before undertaking an assessment of the quality assurance and improvement program, it is...
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?A . Planning an engagement of the area in which fraud is suspected.B . Employing audit tests to detect fraud.C . Interrogating a suspected fraudsterD . Completing...
Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?
Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?A . ISO 26000.B . Global Reporting Initiative.C . Open Compliance and Ethics Group.D . COSO’s enterprise risk management frameworkView AnswerAnswer: B Explanation: The Global...
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?A . Investigation of health and safety incidents.B . Auditing of controls and management systems.C . Communication of disclosures and external reporting,D . Involvement in focus groups and complaint managementView AnswerAnswer: D Explanation: Engaging stakeholders in...
Which of the following would be the most effective fraud prevention control?
Which of the following would be the most effective fraud prevention control?A . Email alert sent to management for checks issued over $100,000.B . Installation of a video surveillance system in a warehouse prone to inventory loss.C . New hire training to explain fraud and employee misconduct.D . Daily report...
Which of the following is the IIA Code of Ethics principle that the auditor upheld?
After being assigned to an audit of the accounts payable process, an internal auditor privately notifies the chief audit executive that she is a finalist for an open manager position within the accounts payable department. Which of the following is the IIA Code of Ethics principle that the auditor upheld?A...
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?A . The CAE previously undertook a consulting assignment in that area to improve processes,B . A couple of years ago, the CAE performed accounting functions for the payroll...
According to IIA guidance, which of the following statements is most relevant regarding the actions of the auditor?
At a conference, an interna! auditor presented a new computer-assisted audit technique developed by his organization. The presentation included sample data derived from performing audit engagements for the organization. Travel costs were paid by the conference organizers, and the trip was approved by the chief audit executive (CAE). However, neither...
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?A . Senior management will be present whenever the CAE interacts with the board, to ensure...
