- All Exams Instant Download
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...
If an internal auditor suspects fraud during an engagement which of the following is expected of the auditor?
If an internal auditor suspects fraud during an engagement which of the following is expected of the auditor?A . Evaluate the suspected activities to determine whether a forma! investigation is warranted,B . Immediately inform senior management and the board of the suspected fraud.C . Ascertain the level of resources needed...
Which of the following should a general internal auditor be able to characterize as an IT-related risk?
Which of the following should a general internal auditor be able to characterize as an IT-related risk?A . Computer servers are in a room that is accessible to all employees,B . An IT architect avoids taking vacations and sharing his workload with coworkers,C . Hours billed by IT developers exceed...
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 fraudsterD . Completing...
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 ....
Who is responsible for ensuring internal auditors’ continuing professional development?
Who is responsible for ensuring internal auditors’ continuing professional development?A . Individual internal auditors.B . Chief audit executive.C . The board.D . Engagement supervisors.View AnswerAnswer: B Explanation: The Chief Audit Executive (CAE) is primarily responsible for ensuring internal auditors’ continuing professional development. The CAE plays a crucial role in setting...
Which of the following is the source of authority for the engagement supervisor to make such contact outside the organization?
An engagement supervisor obtains facilities maintenance reports from a contractor during an audit of third-party services. Which of the following is the source of authority for the engagement supervisor to make such contact outside the organization?A . The policies and procedures of the internal audit activity.B . The provisions of...
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 can be used to minimize employees’ resentment of controls?
Which of the following can be used to minimize employees’ resentment of controls?A . Making sure employees are exempt from participating in control creationB . Implementing controls without lengthy explanations of their purposeC . Developing general constricting controls rather than detailed onesD . Not using controls to achieve goalsView AnswerAnswer:...
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?A . Separate the duties of processing and authorizing refunds on merchandiseB . Post signs in the register area prompting customers to ask for and examine their sales receiptsC ....
