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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?
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 statements is true regarding a key difference between assurance and consulting services provided by the internal audit activity?
Which of the following statements is true regarding risk management frameworks?
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?
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?
How can an Internal audit activity contribute to Its organization's risk assessment process?

Question 504 - IIA-CIA-Part1 discussion

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Which of the following scenarios provides the most concerning red flag or indicator of possible fraud?

A.
An employee receives a bonus for perfect attendance
Answers
A.
An employee receives a bonus for perfect attendance
B.
During the past 18 months three chief financial officers have left the organization after having been promoted to the position
Answers
B.
During the past 18 months three chief financial officers have left the organization after having been promoted to the position
C.
The organization does not perform any due diligence research on third party service providers
Answers
C.
The organization does not perform any due diligence research on third party service providers
D.
Three competitors are highly profitable but a fourth equal in size is approaching bankruptcy limits
Answers
D.
Three competitors are highly profitable but a fourth equal in size is approaching bankruptcy limits
Suggested answer: B
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asked 18/09/2024
Aleph Ventures
33 questions
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