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Which of the following observations must be addressed in order for the internal audit activity to achieve conformance with the Standards?
The internal audit activity is undergoing a self-assessment as part of its quality assurance and improvement program. Which of the following observations must be addressed in order for the internal audit activity to achieve conformance with the Standards?A . The internal audit charter does not identify which audit services are...
In this scenario, which of the following statements is true?
An internal auditor at a multinational organization is reviewing the effectiveness of the organization's risk management framework. In this scenario, which of the following statements is true?A . The auditor should consider local cultures and customs in various regions when assessing control effectiveness.B . Regardless of their location, employees at...
What should the CAE recommend as the most appropriate course of action for the executive?
A senior executive at a government-owned organization received an invitation to attend a public exhibition where he can learn about new trucks relevant to the organization's business. As a special perk, the executive is offered an opportunity to drive a luxury vehicle manufactured by one of the exhibiting companies. Prior...
According to HA guidance, which of the following is important for a successful mentorship program?
An internal audit activity is taking steps to promote professional development among the staff, and is in the process of implementing a mentorship program. According to HA guidance, which of the following is important for a successful mentorship program?A . It is best if the mentor is the chief audit...
Which of the following actions, if taken by the chief audit executive, could address these concerns?
Senior management and the board have expressed concerns about the length of engagements and whether their outcome aligns with the organization's strategies and objectives. Which of the following actions, if taken by the chief audit executive, could address these concerns?A . Communicating to internal audit staff instructions for completing engagements...
Which of the following relates to the concept of due professional care?
Which of the following relates to the concept of due professional care?A . An auditor attempts to obtain information needed to complete an assurance engagement but is denied access.B . The appointment of the chief audit executive is ratified by the board.C . An auditor demonstrates a good understanding of...
Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?
Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?A . Confidentiality.B . Objectivity.C . Integrity.D . Competency.View AnswerAnswer: B
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?A . The CAE reports administratively to the CEO.B . The CAE is asked to submit the liquidation of her travel allowances to human resources for approval.C . The...
What is the best course of action for the auditor to take?
An internal auditor assessed the controls within his organization's payroll process and suspects that erroneous payments may have been made to a fraudulent bank account. What is the best course of action for the auditor to take?A . Speak to the payroll manager so he may investigate the auditor's observations.B...
Which of the following Code of Ethics principles was violated?
An internal auditor found that his organization did not make a disclosure that is required by law. However, the auditor decided not to raise an audit finding. Which of the following Code of Ethics principles was violated?A . Objectivity.B . Integrity.C . Proficiency.D . Confidentiality.View AnswerAnswer: B
