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The internal audit activity completed its analysis of sample transactions to determine occurrences of double billings According to If A guidance, which of the following best demonstrates that internal auditors exercised due professional care during the review?
The internal audit activity completed its analysis of sample transactions to determine occurrences of double billings According to If A guidance, which of the following best demonstrates that internal auditors exercised due professional care during the review?A . Internal auditors found no instances of double billing and concluded there were...
Which of the following best describes the Standards requirement for collective proficiency of the internal audit activity?
Which of the following best describes the Standards requirement for collective proficiency of the internal audit activity?A . The internal audit activity must have auditors on staff who collectively possess all of the competencies required to fulfill the internal audit plan, B. All internal auditors on staff should possess the...
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...
Which of the following skills is most important for an internal auditor who facilitates control self-assessment workshops to possess?
Which of the following skills is most important for an internal auditor who facilitates control self-assessment workshops to possess?A . Groupthink. B. Collaboration skills. C. Process analysis skills. D. Project management skills.View AnswerAnswer: C
In which of the following ways can a chief audit executive demonstrate to the board that the internal audit activity collectively possesses all of the skills needed to complete its annual goals?
In which of the following ways can a chief audit executive demonstrate to the board that the internal audit activity collectively possesses all of the skills needed to complete its annual goals?A . Involve board members in hiring activities and request advice. B. Require all internal audit staff to complete...
Which of the following best demonstrates that the internal audit activity is using due professional care?
Which of the following best demonstrates that the internal audit activity is using due professional care?A . The internal audit activity reports directly to the board on the engagements it performs. B. Internal auditors undertake the necessary training to complete their audit work. C. The completion of engagements is based...
Which of the following statements best illustrates why internal auditors assess soft controls?
Which of the following statements best illustrates why internal auditors assess soft controls?A . Assessing soft controls are an effective method of assessing risk related to personnel. B. Assessing soft controls, as opposed to hard controls, makes it easier to evaluate operating effectiveness. C. Assessing soft controls can help internal...
Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity’s knowledge, skills, and competencies?
Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity’s knowledge, skills, and competencies?A . Complete a skills assessment of the internal audit activity based on. The IIA Global Internal Audit Competency Framework. B. Develop a...
Which of the following organization wide practices is most likely to be acceptable to the CAE?
A newly appointed chief audit executive (CAE) started analyzing the organization's policies in an attempt to customize them to address internal audit specifics. Which of the following organization wide practices is most likely to be acceptable to the CAE?A . Internal auditors1performance evaluation is primarily based on both client satisfaction...
According to NA guidance, which of the following conditions would enhance the independence of the internal audit activity?
According to NA guidance, which of the following conditions would enhance the independence of the internal audit activity?A . The organizational culture rewards critical and objective thinking. B. The quality of work performed by the internal audit activity is periodically reviewed, C. The organization establishes effective governing body oversight, D....
