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According to HA guidance, which of the following is important for a successful mentorship program?
An internal audit activity is taking steps to promote professional development among the staff, and is in the process of implementing a mentorship program. According to HA guidance, which of the following is important for a successful mentorship program?A . It is best if the mentor is the chief audit...
Which of the following actions, if taken by the chief audit executive, could address these concerns?
Senior management and the board have expressed concerns about the length of engagements and whether their outcome aligns with the organization's strategies and objectives. Which of the following actions, if taken by the chief audit executive, could address these concerns?A . Communicating to internal audit staff instructions for completing engagements...
Which of the following relates to the concept of due professional care?
Which of the following relates to the concept of due professional care?A . An auditor attempts to obtain information needed to complete an assurance engagement but is denied access.B . The appointment of the chief audit executive is ratified by the board.C . An auditor demonstrates a good understanding of...
Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?
Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?A . Confidentiality.B . Objectivity.C . Integrity.D . Competency.View AnswerAnswer: B
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?
Regarding the chief audit executive (CAE). which of the following is considered an impairment to the independence of the internal audit activity?A . The CAE reports administratively to the CEO.B . The CAE is asked to submit the liquidation of her travel allowances to human resources for approval.C . The...
What is the best course of action for the auditor to take?
An internal auditor assessed the controls within his organization's payroll process and suspects that erroneous payments may have been made to a fraudulent bank account. What is the best course of action for the auditor to take?A . Speak to the payroll manager so he may investigate the auditor's observations.B...
Which of the following Code of Ethics principles was violated?
An internal auditor found that his organization did not make a disclosure that is required by law. However, the auditor decided not to raise an audit finding. Which of the following Code of Ethics principles was violated?A . Objectivity.B . Integrity.C . Proficiency.D . Confidentiality.View AnswerAnswer: B
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?A . Segregating duties in the payroll processes.B . Confirming receipt of goods or services.C . Performing background checks on newly hired...
Which of the following best describes a consulting engagement rather an assurance engagement?
Which of the following best describes a consulting engagement rather an assurance engagement?A . Bank internal auditors review an activity checklist to determine that the loan officer followed proper procedures.B . The chief financial officer asks for the internal auditor's opinion regarding whether the new accounting pronouncements were properly and...
What impact will an internal auditor most likely see during an engagement?
There is a growing perception that employees generally evade their responsibilities. What impact will an internal auditor most likely see during an engagement?A . Supervisors are likely to reduce their level of supervision and increase span of control.B . Employees are likely to be supervised closely and given little freedom.C...
