IIA IIA-CIA-Part1 Based on Real Exam Environment

Essentials of Internal Auditing Questions and Answers

Question 29

With regard to the internal audit activity's quality assurance and improvement program, which of the following topics would the chief audit executive include on the quarterly board meeting agenda?

Options:

The scope and frequency of both internal and external quality assessments.

The list of audit engagements that will be assessed during the year.

The number and qualifications of internal audit staff members assigned to perform internal assessments during the year.

The compensation structure of the qualified assessment team.

Question 30

When the chief audit executive Is responsible for risk management in an organization, which of the following parties is responsible for overseeing the internal audit activity's assurance over risk management?

Options:

The chief audit executive.

A member of the compliance function.

A party outside of the internal audit activity.

A member of the risk management function.

Question 31

According to The IIA's Competency Framework, which competency is considered the mandatory minimum for internal auditors to possess when performing internal audit engagements?

Options:

To recognize red flags that indicate fraud.

To recommend controls to prevent fraud.

To apply forensic auditing techniques to detect fraud.

To evaluate the potential for fraud.

Question 32

There is a growing perception that employees generally evade their responsibilities. What impact will an internal auditor most likely see during an engagement?

Options:

Supervisors are likely to reduce their level of supervision and increase span of control.

Employees are likely to be supervised closely and given little freedom.

Peer employees are likely to trust one another, but distrust management.

Employees are likely to join forces to accomplish their duties as teams.

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IIA IIA-CIA-Part1 Based on Real Exam Environment

Essentials of Internal Auditing Questions and Answers

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