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Which of the following best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?
Which of the following best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?A . Regulatory approval from an accrediting agency. B. Self-assessments against a competency framework. C. Approval and signoff from the board of directors. D. A review by external auditors on an annual basisView...
independence?
Which of the following would be considered a violation of The HAfs mandatory guidance on independence?A . The chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer. B. The board seeks senior management's recommendation before approving the annual salary adjustment of the CAE....
According to NA guidance, which of the following provides the best evidence of conformance with the Standards with respect to the proficiency required of the internal audit activity?
According to NA guidance, which of the following provides the best evidence of conformance with the Standards with respect to the proficiency required of the internal audit activity?A . Discussions with the chief audit executive. B. A listing of employee profiles and certifications. C. Inquiry of external auditors. D. Validation...
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...
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...
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 statements is true regarding electronic funds transfer (EFT)?
Which of the following statements is true regarding electronic funds transfer (EFT)?A . EFT is a popular mechanism for improving efficiency, but results in less internal control. B. EFT significantly reduces the risk of fraud by eliminating the need for authorizations. C. EFT eliminates payment delays due mostly to the...
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 fraudster D. Completing...
Which of the following statements best demonstrates application of due professional care during an assurance engagement?
Which of the following statements best demonstrates application of due professional care during an assurance engagement?A . The engagement detected irregularities and noncompliance instances. B. The engagement supervisor had no significant comments in the supervisory review. C. The audit procedures were systematically planned, executed, and documented. D. The engagement objectives...
An internal auditor is updating the risk register for risks identified during a recent organizational risk assessment. According to the Standards, which of the following would the auditor include in the risk register?
An internal auditor is updating the risk register for risks identified during a recent organizational risk assessment. According to the Standards, which of the following would the auditor include in the risk register?A . Management’s acceptance of inadequate controls for cybersecurity risk. B. Discussions with senior management relating to a...
