ExamGecko
Search Search Login
Home Home / IIA / IIA-CIA-Part1
Question list
Search
Search

List of questions

Search
Open VPLUS File
Convert VPLUS to PDF

Related questions

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 757 - IIA-CIA-Part1 discussion

Report
Export

The internal audit activity plans to audit a supplier quality management process within the supply chain function. In what way is this assurance engagement similar to a typical consulting engagement?

A.

For both types of engagements, internal auditors are solely responsible for deciding the goals and objectives.

Answers
A.

For both types of engagements, internal auditors are solely responsible for deciding the goals and objectives.

B.

For both types of engagements, internal auditors must obtain requisite skillsets for the areas where their team lacks competencies.

Answers
B.

For both types of engagements, internal auditors must obtain requisite skillsets for the areas where their team lacks competencies.

C.

For both types of engagements, internal auditors should not be involved in the engagement if they previously managed the supply chain function.

Answers
C.

For both types of engagements, internal auditors should not be involved in the engagement if they previously managed the supply chain function.

D.

For both types of engagements, internal auditors are prohibited from undertaking operational responsibilities.

Answers
D.

For both types of engagements, internal auditors are prohibited from undertaking operational responsibilities.

Suggested answer: B

Explanation:

Internal auditors must possess the knowledge, skills, and other competencies needed to perform their individual responsibilities and the internal audit activity's plan2.This applies to both assurance and consulting engagements, as they both require internal auditors to provide risk-based and objective assurance, advice, and insight to the organization3.If the internal audit team lacks the necessary competencies for a specific engagement, they should obtain them through training, coaching, or external assistance4.

1: CIA Exam Practice Questions - Certified Internal Auditor 20192: Standard 1210 -- Proficiency - The Institute of Internal Auditors or The IIA3: Mission of Internal Audit4: Standard 1210.A3 - The Institute of Internal Auditors or The IIA

Show Answer
asked 03/11/2024
Nick Daniel
37 questions
PreviousPreviousNextNext
User
Your answer:
0 comments
Sorted by

Leave a comment first

ExamGecko

Copyright @2023 ExamGecko | All right reserved

Mail us: [email protected]
About us
Contact us
Twitter X
Facebook
Medium
Convert VPLUS to PDF
Open VPLUS files Easily and Quickly
Privacy Policy
Disclaimer
Terms