Online IIA-CIA-Part1 Questions Video

Essentials of Internal Auditing Questions and Answers

Question 5

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?

Options:

Speak to the payroll manager so he may investigate the auditor's observations.

Continue to investigate the payments to confirm the accuracy of the observations, and determine whether further fraudulent payments have been made.

Stop the audit and report the findings to senior management immediately.

Escalate the concern to the engagement supervisor.

Question 6

An iniernal auditor creates a professional development plan to obtain more experience in the organization's environmental, social, and corporate governance initiatives. Which of the following would the auditor include in the plan to support these objectives?

Options:

A plan to study for and obtain a certification in nonprofit management.

A deadline within the individual development plan to meet the overall engagement objectives.

A plan to perform a variety of engagements to develop general skills that could be used to assess environmental, social, and governance initiatives.

A request to attend the organization's committee meeting that is focused on strategic community awareness.

Question 7

An internal auditor in a busy internal audit activity reviews her continuing professional development records toward the end of the year and is concerned to find she has undertaken limited training and formal professional development. Which of the following actions is the most appropriate for her to take?

Options:

Remind the chief audit executive (CAE) that he is responsible for her continuing professional development and needs to address the issue

Contact her professional organization and explain that she does not need formal professional development, as she is being developed sufficiently through undertaking audit engagements.

Accept that she is unlikely to meet continuing professional development requirements but look to attend training courses at the next available time.

Accept that she is responsible for her own continuing professional development, develop a professional plan, and discuss it with the CAE.

Question 8

Which of the following requests, if accepted by the internal audit activity, would impair its independence?

Options:

A request to develop workshops on corporate governance for management.

A request to act as liaison with external auditors.

A request to determine appropriate risk management responses for management.

A request to provide counseling services on ethical matters.

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Essentials of Internal Auditing Questions and Answers

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