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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 NA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?
According to NA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?A . To enable Triple Bottom Line reporting capability. B. To facilitate the conduct of risk assessment. C. To achieve and maintain sustainable development. D. To fulfill regulatory and compliance...
The auditor's concern best describes which of the following risks?
An internal auditor is performing testing to gather evidence regarding an organization’s inventory account balance and is mindful of the possibility that the sample used might support the conclusion that the recorded account balance is not materially misstated when, in fact, it is. The auditor's concern best describes which of...
Which of the following is the most effective way for internal auditors to determine whether ethical values are followed throughout the organization?
Which of the following is the most effective way for internal auditors to determine whether ethical values are followed throughout the organization?A . Review the organization's ethical value structure and reporting procedures. B. Review what the organization considers to be ethical behavior, such as the employee code of conduct. C....
Which of the following best describes the type of risk that an adequately designed and effectively operating system of internal controls should mitigate?
Which of the following best describes the type of risk that an adequately designed and effectively operating system of internal controls should mitigate?A . Net. B. Controllable. C. inherent, D. Residual.View AnswerAnswer: C
Which of the following documents would promote objectivity within an organization's internal audit activity?
Which of the following documents would promote objectivity within an organization's internal audit activity?A . Internal audit charter. B. Internal audit manual. C. Audit committee charter D. Human resources employee handbook.View AnswerAnswer: B
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...
