- All Exams Instant Download
Which of the following is the internal auditor's most appropriate next step?
Evidence discovered during the course of an engagement suggests that multiple incidents of fraud have occurred. There do not appear to be sufficient controls in place to prevent reoccurrence. Which of the following is the internal auditor's most appropriate next step?A . Immediately notify management of the area under review...
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?A . Chair should learn the current organizational culture of the company. B. Chair should learn the current risk management system...
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...
Which of the following is an example of a directive control?
Which of the following is an example of a directive control?A . Segregation of duties. B. Exception reports. C. Training programs. D. Supervisory review.View AnswerAnswer: C
In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?
In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?A . The effectiveness of process-level and transaction-level controls. B. Conflicts of interest within the organizational structure of the senior management. C. The alignment...
Which of the following is the primary engagement responsibility of an entry-level internal auditor?
Which of the following is the primary engagement responsibility of an entry-level internal auditor?A . Leadership. B. Documentation. C. Analysis. D. Reporting.View AnswerAnswer: C
Which of the following is the most appropriate way to ensure that a newly formed internal audit activity remains free from undue influence by management?
Which of the following is the most appropriate way to ensure that a newly formed internal audit activity remains free from undue influence by management?A . Appoint the chief audit executive as a member of the board. B. Adopt written policies and procedures for the internal audit activity, approved by...
According to IIA guidance, which of the following is the most appropriate action for issuing future audit reports?
An internal audit activity includes in its audit reports the assertion that its work is performed in conformance with the International Standards for the Professional Practice of Internal Auditing ( Standards). A recent external quality assessment concluded that the internal audit activity had substantial deficiencies that impact its overall operations....
According to IIA guidance, which of the following statements is true regarding due professional care?
According to IIA guidance, which of the following statements is true regarding due professional care?A . Internal auditors must exercise due professional care to Insure that all significant risks will be identified, B. Internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor...
Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?
Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?A . Internal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization’s control processes. B. Quality assessments focus on the internal...
