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Question 753 - IIA-CIA-Part1 discussion

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A senior Internal auditor was hired Into a large Internal audit activity It was agreed upon hiring that the auditor would pursue professional development that would support her ability to take on the role of the head of Internal audit, Which of the following skills best supports this development goal?

A.

Data analysis and mining

Answers
A.

Data analysis and mining

B.

Technical and IT skills.

Answers
B.

Technical and IT skills.

C.

Application of IIA mandatory and supplemental guidance.

Answers
C.

Application of IIA mandatory and supplemental guidance.

D.

Risk management and planning.

Answers
D.

Risk management and planning.

Suggested answer: C

Explanation:

One of the essential skills for a head of internal audit is the ability to apply the International Professional Practices Framework (IPPF) issued by the Institute of Internal Auditors (IIA).The IPPF consists of mandatory and supplemental guidance that provides the principles, standards, and best practices for internal audit activities2.A head of internal audit should be familiar with the IPPF and ensure that the internal audit function conforms to its requirements and expectations3.The IPPF also helps the head of internal audit to demonstrate the value and quality of internal audit to the stakeholders, such as the board, senior management, regulators, and external auditors4.

Some additional information:

Data analysis and mining, technical and IT skills, and risk management and planning are also important skills for a head of internal audit, but they are not specific to the role.These skills are relevant for any internal auditor or manager who needs to perform effective and efficient audits, use appropriate tools and techniques, and assess and mitigate risks5.

The mandatory guidance of the IPPF includes the Core Principles for the Professional Practice of Internal Auditing, the Code of Ethics, the International Standards for the Professional Practice of Internal Auditing (Standards), and the Definition of Internal Auditing2.


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asked 03/11/2024
Rick van der Slot
40 questions
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