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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?
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 offers the feast evidence that the internal audit activity has achieved organizational independence?
Which of the following situations is most likely to threaten the independence of the internal audit activity?
Which of the following actions by an organization's board would potentially impair the internal audit activity's independence?
Which of the following actions does a competency assessment tool help the chief audit executive perform?
Which of the following is the internal audit activity expected to do with respect to the organization's governance processes?
Which of the following best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?
Which of the following statements is true regarding risk management frameworks?
How can an Internal audit activity contribute to Its organization's risk assessment process?

Question 610 - IIA-CIA-Part1 discussion

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Which of the following most accurately describes corporate social responsibility at an organization?

A.

An organizational locus on improving the overall environment, even it is to the detriment of the local community.

Answers
A.

An organizational locus on improving the overall environment, even it is to the detriment of the local community.

B.

A philosophy driven by employees that flows up to senior management and the board of directors.

Answers
B.

A philosophy driven by employees that flows up to senior management and the board of directors.

C.

An overall commitment of the organization to improve the quality of life for not only the employees but the community at large.

Answers
C.

An overall commitment of the organization to improve the quality of life for not only the employees but the community at large.

D.

A policy of ensuring that the organization is socially responsible, even if it leads to unprofitability due to increased costs.

Answers
D.

A policy of ensuring that the organization is socially responsible, even if it leads to unprofitability due to increased costs.

Suggested answer: C

Explanation:

Corporate social responsibility (CSR) refers to an organization's overall commitment to improving the quality of life for its employees and the community at large. This commitment involves ethical behavior, sustainable practices, and contributions to social and environmental well-being. CSR initiatives aim to create a positive impact on society while also enhancing the organization's reputation and stakeholder relationships.

The IIA Standards: Standard 2110 -- Governance: 'The internal audit activity must assess and make appropriate recommendations to improve the organization's governance processes for making strategic and operational decisions, overseeing risk management and control, and promoting appropriate ethics and values within the organization.'

COSO ERM Framework: Discusses the role of CSR in enhancing organizational sustainability and stakeholder value.

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asked 03/11/2024
Tyler Raymond
39 questions
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