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According to the Standards, in today's technology and business environments, how much computer and information systems-related knowledge and skills must an internal auditor have to be effective in fulfilling his job responsibilities?
According to the Standards, in today's technology and business environments, how much computer and information systems-related knowledge and skills must an internal auditor have to be effective in fulfilling his job responsibilities?A . Auditors must have an IT specialty in at least one of their organization's key information technology systems....
Which of the following is an indicator that the organization s risk management process is effective?
Which of the following is an indicator that the organization s risk management process is effective?A . The organization s risk appetite mission, and objectives are dearly outlined. B. The organization s risk management practices are assessed as mature. C. The organization has adopted risk management frameworks and global models....
According to The IIA's Competency Framework, which competency is considered the mandatory minimum for internal auditors to possess when performing internal audit engagements?
According to The IIA's Competency Framework, which competency is considered the mandatory minimum for internal auditors to possess when performing internal audit engagements?A . To recognize red flags that indicate fraud. B. To recommend controls to prevent fraud. C. To apply forensic auditing techniques to detect fraud. D. To evaluate...
Which of the following conclusions confirms that the internal audit activity is in conformance with the Standards'?
An external assessment was performed as part of the organization's quality assurance and improvement program. Which of the following conclusions confirms that the internal audit activity is in conformance with the Standards'?A . The chief audit executive is well qualified and has responsibilities over operational areas that the internal audit...
If the skills and competencies are not present within the internal audit activity to complete an ad-hoc assurance engagement, which of the following is an acceptable resolution?
If the skills and competencies are not present within the internal audit activity to complete an ad-hoc assurance engagement, which of the following is an acceptable resolution?A . Politely decline the engagement due to a lack of qualified staff available at the time. B. Complete the engagement as requested, with...
According to HA guidance, which of the following is important for a successful mentorship program?
An internal audit activity is taking steps to promote professional development among the staff, and is in the process of implementing a mentorship program. According to HA guidance, which of the following is important for a successful mentorship program?A . It is best if the mentor is the chief audit...
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...
According to IIA guidance, which of the following statements is true regarding consulting engagements performed by the internal audit activity?
According to IIA guidance, which of the following statements is true regarding consulting engagements performed by the internal audit activity?A . Consulting engagements typically involve four or five parties: the internal audit activity, engagement client, senior management, board, and sometimes the external auditor. B. The scope of a consulting engagement...
Which of the following written documents typically offers the best evidence that internal auditors exercise due professional care in conformance with the Standards?
Which of the following written documents typically offers the best evidence that internal auditors exercise due professional care in conformance with the Standards?A . Internal audit charter. B. Workpaper. C. Audit report. D. Code of ethics.View AnswerAnswer: B
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...
