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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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Which of the following actions by an organization's board would potentially impair the internal audit activity's independence?
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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?
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 445 - IIA-CIA-Part1 discussion

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Which of the following statements is correct regarding disclosure of conformance or nonconformance with the Standards?

A.
An internal audit activity that has been in existence fewer than five years cannot Indicate that it is operating in conformance with the Standards because it has not yet undergone an external assessment.
Answers
A.
An internal audit activity that has been in existence fewer than five years cannot Indicate that it is operating in conformance with the Standards because it has not yet undergone an external assessment.
B.
Once an external assessment validates conformance with the Standards, the internal audit activity may continue to use the statement until the next external assessment.
Answers
B.
Once an external assessment validates conformance with the Standards, the internal audit activity may continue to use the statement until the next external assessment.
C.
If it has been more than five years since the last external assessment was conducted, the Internal audit activity must cease indicating that it operates in conformance with the Standards.
Answers
C.
If it has been more than five years since the last external assessment was conducted, the Internal audit activity must cease indicating that it operates in conformance with the Standards.
D.
The chief audit executive must disclose every instance of noncompliance with the Code of Ethics or the Standards.
Answers
D.
The chief audit executive must disclose every instance of noncompliance with the Code of Ethics or the Standards.
Suggested answer: A
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asked 18/09/2024
Jucelino Pinheiro de Andrade da Silva
42 questions
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