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Skimming involves stealing cash or assets from the organization and is normally concealed by adjusting the organization’s
Skimming involves stealing cash or assets from the organization and is normally concealed by adjusting the organization’s records. 4, Disbursement fraud occurs when a person causes the organization to issue a payment for fictitious goods or services.A . 1 and 3.B. B. 1 and 4. C. 2 and 3. D....
Which of the following best describes the internal audit activity’s responsibility within a risk and control framework?
Which of the following best describes the internal audit activity’s responsibility within a risk and control framework?A . The internal audit activity constitutes the first line of defense in effective risk management. B. The internal audit activity provides direction regarding internal controls implementation. C. The internal audit activity verifies that...
Which of the following would encourage the internal auditor to be objective in his work?
During a review of employee benefits, a staff internal auditor observed an ambiguity in the incentive compensation policy. If reported, it could negatively impact the internal auditor's compensation. Which of the following would encourage the internal auditor to be objective in his work?A . Periodic reinforcement of the internal audit...
Which of the following processes does the board manage to ensure adequate governance?
Which of the following processes does the board manage to ensure adequate governance?A . Establish and measure performance objectives for the internal audit activity. B. Select board members with necessary knowledge and skills. C. Develop, approve, and execute the strategic plan of the organization. D. Develop strategies to mitigate the...
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?A . Results of internal assessments need to be reported to the board at least once every five years. B. The external assessor must present the findings from the...
Which of the following best describes this risk management technique?
Management assessed the organization’s risk of expanding operations into a new, but volatile, region and began looking for a compatible local partner to manage sales and distribution. Which of the following best describes this risk management technique?A . Avoidance. B. Acceptance. C. Reduction. D. SharingView AnswerAnswer: C
Which of the following best describes this risk management technique?
Management assessed the organization’s risk of expanding operations into a new, but volatile, region and began looking for a compatible local partner to manage sales and distribution. Which of the following best describes this risk management technique?A . Avoidance. B. Acceptance. C. Reduction. D. SharingView AnswerAnswer: C
Which of the following best describes the internal audit activity's contribution to the implementation of the risk management framework?
Which of the following best describes the internal audit activity's contribution to the implementation of the risk management framework?A . Internal audit identifies key risk areas during assurance reviews and provides audit findings. B. Internal audit assists with the prioritization of identified risks. C. Internal audit participates in setting the...
Which of the following best describes the internal audit activity’s responsibility within a risk and control framework?
Which of the following best describes the internal audit activity’s responsibility within a risk and control framework?A . The internal audit activity constitutes the first line of defense in effective risk management. B. The internal audit activity provides direction regarding internal controls implementation. C. The internal audit activity verifies that...
According to the 11A Code of Ethics, which of the following is required with regard to communicating results?
According to the 11A Code of Ethics, which of the following is required with regard to communicating results?A . The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization. B. The internal auditor should disclose all...
