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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?
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The same internal auditor has audited the regional purchasing department annually for the last three years. The audits have shown several significant control deficiencies that have not been corrected by management. New management is in charge of this regional purchasing department, and it is time to audit the department again. What concerns should be considered prior to assigning the audit to the same auditor?
Which of the following actions by an organization's board would potentially impair the internal audit activity's independence?
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A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed an internal assessment. To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?

Question 339 - IIA-CIA-Part1 discussion

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An organization's fraud policies and procedures dictate that the internal audit activity does not have primary responsibility for conducting fraud investigations and should, in fact, refrain from involvement in investigations. Which of the following activities would be considered acceptable for internal auditors to perform of this organization?

A.
Evaluate the effectiveness of fraud investigations
Answers
A.
Evaluate the effectiveness of fraud investigations
B.
Oversee and monitor senior management s approach to manage fraud risks
Answers
B.
Oversee and monitor senior management s approach to manage fraud risks
C.
Set the tone for fraud risk management within an organization
Answers
C.
Set the tone for fraud risk management within an organization
D.
Evaluate whether the financial statements are free of material misstatement due to fraud
Answers
D.
Evaluate whether the financial statements are free of material misstatement due to fraud
Suggested answer: B
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asked 18/09/2024
Franco Santos
38 questions
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