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According to IIA guidance, which of the following statements is false regarding continuing professional education for the internal audit activity (IAA)?
According to IIA guidance, which of the following statements is false regarding continuing professional education for the internal audit activity (IAA)?A . Continuing professional education can be obtained through IAA involvement in research projects.B . Employers are responsible for ensuring that the continuing professional education needs of the IAA are...
According to IIA guidance, which of the following statements regarding the internal audit charter is true?
According to IIA guidance, which of the following statements regarding the internal audit charter is true?A . Senior management should approve the charter before it is submitted to the board.B . The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards.C . The...
Which of the following would be the best course of action for the CAE to follow?
An organization's chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area. Which of the following would be the best course of action for the CAE to follow?A . Outsource the audit engagement to a...
Which of the following actions does not violate the IIA Code of Ethics or Standards?
Which of the following actions does not violate the IIA Code of Ethics or Standards?A . An internal auditor performing an audit on an operation that they managed less than a year ago.B . An internal auditor performing an audit on procedures that they were responsible for creating.C . An...
Which of the following pieces of evidence would be sufficient for completing this task?
An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization's mission. Which of the following pieces of evidence would be sufficient for completing this task?A . A log from the last year that includes dates of...
According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?
According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?A . Three months.B . Six months.C . One year.D . Two years.View AnswerAnswer: C
Which of the following pieces of evidence would be sufficient for completing this task?
An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization's mission. Which of the following pieces of evidence would be sufficient for completing this task?A . A log from the last year that includes dates of...
To identify potential efficiency improvements.
To identify potential efficiency improvements.A . 1 and 2.B . 1 and 3.C . 2 and 4.D . 3 and 4.View AnswerAnswer: B
Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?
Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?A . Which sampling methodology to select for testing.B . Which fields to examine on each invoice.C . Whether an individual expenditure is allowable.D . What level of noncompliance...
Which of the following is a second line of defense in effective risk management and control?
Which of the following is a second line of defense in effective risk management and control?A . Purchasing department.B . Compliance department.C . Credit department.D . Internal audit department.View AnswerAnswer: B
