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Regarding Ihe chief audit executive (CAE). which ot the following is considered an impairment to the independence of the internal audit activity?
At the beginning of an IT development project key risks were identified and assessed and risk owners were appointed Six months later the IT development team reported that the project Is significantly over budget, it will not be completed on time and key personnel had left the organization. Which of the following risk management practices should be improved for future projects?
The largest risks facing an organization should be mitigated by which type of controls?
Which combination of strategies would provide the best evaluation of the effectiveness of the organization's risk assessment activity?
1. Interview staff at various levels to discuss the organization's objectives, significant risks, and risk appetite.
2. Review board meeting minutes to determine whether the significant risks identified are communicated timely to the board.
3. Evaluate the adequacy and timeliness of management remediation actions by reviewing the control design, testing the controls, and reviewing monitoring procedures.
4. Review the professional development plans of internal audit staff to ensure all are competent to assess the organization's risk assessment activity.
According to IIA guidance, which of the following statements is true with regard to the chief audit executive's (CAE's) responsibility for conducting a self-assessment of the internal audit activity?
1 The CAE should select an independent reviewer or review team to perform sufficient tests of the self-assessment to validate the results
2 The CAE should validate results by engaging experienced audit professionals from a separate internal audit activity outside of the organization to reperform all of the tests conducted for the assessment
3. The CAE should select independent, nonaudit professionals who are knowledgeable about the organization and the industry in which it operates to assist with performing the self-assessment
4. The CAE may consider performing a self-assessment with independent external validation in Iieu of performing a full external assessment
Which statement is accurate regarding reporting on the quality assurance and improvement program (OAIP) to conform with the International Standards for the Professional Practice of Internal Auditing?
The collaborating style for conflict resolution, where the parties promote assertiveness and work together to develop a mutually beneficial solution, is best used in which of the following situations?
Which of the following statements best represents the duo professional care that is required of internal auditor’s?
Which of the following statements is true regarding reporting results of the quality assurance and improvement program to senior management and the board?
An internal audit team was assigned to review the organization’s information security protocol After fieldwork was completed an internal auditor identified an error in the review of security access The error could affect the overall results of the engagement Which of the following is the most appropriate course of action for the internal auditor?
An Internal auditor accepted a role as an engagement supervisor on a highly specialized and technical engagement for which she did not have the expertise. Which of the following fundamental principles of The IIA's Code of Ethics did she violate?
According to MA guidance, which of the following is an appropriate role for the internal audit activity?
An internal auditor assessed that the risk of steel theft at a plant is high. In response, the plant's management introduced a number of controls, including fences around the facility, a metal detector at the entrance, and monthly steel inventory counts. If the controls operate as intended, which of the following outcomes would the internal auditor hope to see?
The chief audit executive (CAE) decided to conduct a self-assessment with independent validation. Which of the following is the most likely reason the CAE selected this course of action?
Which of the following Code of Ethics principles specifically requires internal auditors to disclose all material facts known to them that, if not disclosed, may distort the reporting of activities under review?
Which of the following organizational practices is likely to be a part of a corporate social responsibility program?
Which of the following can be used to minimize employees’ resentment of controls?
Who has the ultimate responsibility of implementing the organization’s governance system?
Which of the following is the internal audit activity expected to do with respect to the organization's governance processes?
With regard to the internal audit activity's quality assurance and improvement program, which of the following must be reported to the board?
What is the primary reason a chief audit executive should dedicate time and resources to support continuing professional development of internal audit staff?
Which of the following survey questions would be most effective to identify ethics violations within the organization?
What is an appropriate first step in an internal auditor’s fraud risk assessment to evaluate how the organization manages such risk?
An internal auditor believes that a weakness exists in the control environment relating to the delegation of authority and responsibility within the management structure. Which of the following actions should the internal auditor first consider in this matter?
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?
A new chief audit executive realized that the internal audit charter has not been updated in five years and only includes the Core Principles for the Professional Practice of Internal Auditing, the Code of Ethics, and the Standards. What mandatory component is missing?
A chief audit executive (CAE) is concerned that the internal audit activity is not receiving adequate training and continuing education. Which of the following approaches should the CAE take?
TESTED 25 Apr 2024