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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?
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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 677 - IIA-CIA-Part1 discussion

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What is the best course of action when the internal audit activity does not have the knowledge necessary to perform a planned audit of the organization's new IT data backup process?

A.

Postpone the audit engagement to a later date.

Answers
A.

Postpone the audit engagement to a later date.

B.

Recruit and hire a full-time staff auditor who is proficient in data backup processes.

Answers
B.

Recruit and hire a full-time staff auditor who is proficient in data backup processes.

C.

Change the plan from an assurance engagement to a consulting engagement.

Answers
C.

Change the plan from an assurance engagement to a consulting engagement.

D.

Provide data backup training to the engagement supervisor.

Answers
D.

Provide data backup training to the engagement supervisor.

Suggested answer: D

Explanation:

The best course of action when the internal audit activity lacks the necessary knowledge for a planned audit is to Provide data backup training to the engagement supervisor. This option ensures that the audit team builds the required competencies internally, enhancing their ability to perform the audit effectively.

Option A: Postponing the audit might delay identifying critical issues.

Option B: Recruiting a full-time staff auditor is not a practical immediate solution and could be resource-intensive.

Option C: Changing to a consulting engagement does not solve the knowledge gap for future audits.

Providing training aligns with the IIA Standard 1210.A1, which requires internal auditors to possess the knowledge, skills, and other competencies needed to perform their responsibilities.

IIA Standard 1210: Proficiency and Due Professional Care.

IIA Standard 1230: Continuing Professional Development.

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asked 03/11/2024
David Murinda
42 questions
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