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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?
Which of the following offers the feast evidence that the internal audit activity has achieved organizational independence?
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 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 666 - IIA-CIA-Part1 discussion

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Which of the following is an indicator that the internal audit activity does not fully conform with the Standards?

A.

The quality assurance and improvement program identified several opportunities for the internal audit activity to make improvements.

Answers
A.

The quality assurance and improvement program identified several opportunities for the internal audit activity to make improvements.

B.

In lieu of an external assessment, the internal audit activity performed a self-assessment with independent external validation.

Answers
B.

In lieu of an external assessment, the internal audit activity performed a self-assessment with independent external validation.

C.

During an internal quality assessment, it was identified that rotational auditors often perform consulting engagements for areas of the organization where they had previous responsibilities.

Answers
C.

During an internal quality assessment, it was identified that rotational auditors often perform consulting engagements for areas of the organization where they had previous responsibilities.

D.

External assessments are performed every five years by a competent internal audit team from the organization's parent company.

Answers
D.

External assessments are performed every five years by a competent internal audit team from the organization's parent company.

Suggested answer: C

Explanation:

The internal audit activity should avoid conflicts of interest and maintain independence and objectivity. Rotational auditors performing consulting engagements in areas where they had previous responsibilities can impair their objectivity and independence, which is a non-conformance with the IIA Standards.

Reference:

IIA Standard 1130 - Impairment to Independence or Objectivity.

IIA Standard 1100 - Independence and Objectivity.

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asked 03/11/2024
Kevin Suckiel
48 questions
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