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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 105 - IIA-CIA-Part1 discussion

Report
Export

Which of the following strategies would be the most effective to share an organization's risk of losses through foreign currency transactions related to the accounts payable process?

A.
Using a hedging strategy.
Answers
A.
Using a hedging strategy.
B.
Implementing controls to follow up on deviations.
Answers
B.
Implementing controls to follow up on deviations.
C.
Purchasing liability insurance.
Answers
C.
Purchasing liability insurance.
D.
Purchasing foreign currency reserves.
Answers
D.
Purchasing foreign currency reserves.
Suggested answer: A
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asked 18/09/2024
Vahit Erciyas
44 questions
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