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Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?A . Segregating duties in the payroll processes.B . Confirming receipt of goods or services.C . Performing background checks on newly hired...
Review the professional development plans of internal audit staff to ensure all are competent to assess the organization's risk assessment activity.
Review the professional development plans of internal audit staff to ensure all are competent to assess the organization's risk assessment activity.A . 1 and 2 only.B . 1.2, and 3 only.C . 1.3. and 4 only.D . 3 and 4 only.View AnswerAnswer: B
Which of the following would be the most appropriate action for the CAE to take?
A chief audit executive (CAE) has been asked by the board to evaluate the effectiveness of ethical programs created by management. Which of the following would be the most appropriate action for the CAE to take?A . Compare the design of the organization's ethical programs with best practices.B . Verify...
Which of the following is true regarding impairment to the auditor's objectivity?
An organization is considering purchasing a new banking software system and has asked the internal audit activity to evaluate the system. An internal auditor assigned to perform the engagement worked at the software company two years ago and is familiar with the system's design strengths and weaknesses. Which of the...
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?A . Segregating duties in the payroll processes.B . Confirming receipt of goods or services.C . Performing background checks on newly hired...
Which of the following describes a primary responsibility for the internal audit activity in helping management maintain effective controls?
Which of the following describes a primary responsibility for the internal audit activity in helping management maintain effective controls?A . Promoting continuous evaluationB . Promoting continuous monitoringC . Promoting continuous improvementD . Promoting continuous reportingView AnswerAnswer: C
Which of the following conclusions confirms that the internal audit activity is in conformance with the Standards'?
An external assessment was performed as part of the organization's quality assurance and improvement program. Which of the following conclusions confirms that the internal audit activity is in conformance with the Standards'?A . The chief audit executive is well qualified and has responsibilities over operational areas that the internal audit...
Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?
Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?A . The CAE tasks internal auditors with coordinating assurance activities with other providers across the organization.B . The CAE encourages auditors to volunteer to...
With regard to the internal audit activity's quality assurance and improvement program, which of the following must be reported to the board?
With regard to the internal audit activity's quality assurance and improvement program, which of the following must be reported to the board?A . A statement of independence of the organization's internal auditors.B . Meeting minutes with the assessment team, if key risks were identified and discussed.C . Frequency of the...
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?A . Segregating duties in the payroll processes.B . Confirming receipt of goods or services.C . Performing background checks on newly hired...
