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Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.
Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.A . 1 and 2 only. B. 2 and 3 only. C. 2 and 4 only. D. 3 and 4 onlyView AnswerAnswer: A
Which of the following would be the most effective way to approach this issue?
A series of incidents over the past year reveals several members of senior management possess a limited understanding of the concept and impact of fraud. Which of the following would be the most effective way to approach this issue?A . The board should ask the internal audit activity to perform...
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 requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?A . The internal assessment results should be discussed once every five years, B. The rating conclusions and the impact from results of the external assessment...
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...
Which of the following would be a potential concern if the board member’s suggestion is adopted?
The board of a newly established organization was discussing the contents of the draft internal audit charter One board member suggested adding to the charter an obligation for the internal audit activity to develop controls in business procedures. The board member explained that the new organization needs professional-level developers, internal...
Which of the following is an example of a detective control?
Which of the following is an example of a detective control?A . Automatic shut-off valve. B. Auto-correct software functionality. C. Confirmation with suppliers and vendors. D. Safety instructions.View AnswerAnswer: C
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?A . Senior management will be present whenever the CAE interacts with the board, to ensure...
Which of the following is the IIA Code of Ethics principle that the auditor upheld?
After being assigned to an audit of the accounts payable process, an internal auditor privately notifies the chief audit executive that she is a finalist for an open manager position within the accounts payable department. Which of the following is the IIA Code of Ethics principle that the auditor upheld?A...
Which of the following would be the most appropriate approach?
The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review. Which of the following would be the most appropriate approach?A . An internal auditor who recently attended a...
