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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 57

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Question 561

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A manufacturing organization's chief audit executive (CAE) was approached by the head of security from one of the manufacturer's third party suppliers The head of security requested internal audit records from a recent audit engagement involving the third-party supplier The head of security believed those records contained information that would enable to identify employees of the thirdparty supplier who may be involved m fraudulent activities What is the most appropriate course of action for the CAE?

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Question 562

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According to IIA guidance which of the following correctly describes the standard risk treatments outlined in the process element approach of the framework for risk management?

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Question 563

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According to IIA guidance which of the following statements is true regarding the internal audit charier?

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Question 564

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A chief audit executive (CAE) has just joined an organization with an existing internal audit activity.

Based on her review of the current organizational structure, the CAE determines that the internal audit activity lacks adequate independence. Which of the following actions is the CAE's best step to take next to move the internal audit activity toward organizational independence?

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Question 565

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The CEO has delegated several responsibilities to the internal audit activity. Which of the following directives should concern the chief audit executive the most?

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Question 566

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Which of the following approaches will internal audit utilize when developing a set of performance standards to measure an organization's risk management process against?

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Question 567

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Which of the following describes an ongoing monitoring activity that could be performed as part of an internal assessment for a quality assurance and improvement program (QAIP)?

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Question 568

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The head of human resources notified the internal audit activity that a key account manager was fired because he did not register a large number of contracts with clients As a result the organization was unaware of its duties and would suffer some financial loss Which of the following should be expected from a competent internal auditor who is analyzing this situation?

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Question 569

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A chief audit executive has reported to the board that the internal audit activity is lacking financial accounting knowledge for specific audit projects. Upon approval from the board which of the following hiring approaches is best in this situation?

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Question 570

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According to IIA guidance, an internal audit charter should detail which of the following?

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Related questions

A new chief audit executive wants to develop a formal internal control framework for her organization. She uses globally accepted frameworks as a guide. Which of the following would she likely find critical in creating the new framework for her organization?
A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed an internal assessment. To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?
Which of the following statements is true regarding risk management frameworks?
To meet the resource requirements of this year's internal audit plan, the chief audit executive (CAE) has recruited additional staff auditors, including an employee who resigned as a senior supervisor from the accounts payable department two months ago. There is a scheduled accounts payable review that the CAE wants to start within the next five months. Which approach should the CAE take, knowing the expertise of his new recruit in the area intended to be audited?
An engagement supervisor notes that an internal auditor usually documents and submits draft audit reports for review without giving the process owners the opportunity to state their position on the issues raised. How should the engagement supervisor respond?
Which of the following requests, if accepted by the internal audit activity, would impair its independence?
Regarding the chief audit executive (CAE). which ot the following is considered an impairment to the independence of the internal audit activity?
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?
Which of the following would best preserve the organizational independence of the internal audit activity?
Which should the internal auditor first consider when assessing fraud risks during an engagement?