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Question 698 - IIA-CIA-Part1 discussion

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Which of the following practices is generally most effective to protect internal audit objectivity?

A.

Ensuring regular documentation of auditor skills and experience in the workpapers.

Answers
A.

Ensuring regular documentation of auditor skills and experience in the workpapers.

B.

Basing performance evaluations heavily on customer satisfaction surveys.

Answers
B.

Basing performance evaluations heavily on customer satisfaction surveys.

C.

Prohibiting auditors from accepting gifts from audit clients or potential clients.

Answers
C.

Prohibiting auditors from accepting gifts from audit clients or potential clients.

D.

Ensuring that auditors have a balance of both operational and internal audit responsibilities.

Answers
D.

Ensuring that auditors have a balance of both operational and internal audit responsibilities.

Suggested answer: C

Explanation:

Protecting the objectivity of internal auditors is a crucial aspect of maintaining the integrity and reliability of the internal audit function. According to the International Standards for the Professional Practice of Internal Auditing (Standards), specifically Standard 1120: Individual Objectivity, internal auditors must have an impartial, unbiased attitude and avoid any conflict of interest. Prohibiting auditors from accepting gifts from audit clients or potential clients (Option C) is a clear measure to prevent conflicts of interest and ensure that auditors remain objective and free from undue influence. This practice is in line with maintaining the highest level of ethical standards as per the IIA's Code of Ethics.

Reference:

IIA Standards, Standard 1120: Individual Objectivity

IIA Code of Ethics

asked 03/11/2024
Richard lavery
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