IIA IIA-CIA-Part1 Quiz 68 Topic 2 Questions 336-340

Question: 1

According to the Standards, which of the following statements best describes the required content of the chief audit executive's (CAE) report to senior management and the board on the internal audit activity (IAA)?

AThe CAE must report on significant risk exposures, control issues, and governance issues.

BThe CAE must report on policies, procedures, and best practices of the IAA.

CThe CAE must report on quality assurance techniques, statistical analysis methods, and other analytical processes used.

DThe CAE must report on auditors' continuing education activities, staffing changes, and any outsourcing to external parties.

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Question: 2

An internal auditor has been engaged to assess fraud risks associated with a new financial software system.

Which competency would best help the auditor complete the task?

AExpertise in identifying information technology risks.

BA thorough understanding of organizational governance principles.

CProficiency in creating and utilizing process maps.

DKnowledge of key management and business principles.

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Question: 3

According to IIA guidance, which of the following statements is correct concerning the knowledge, skills, and competencies required to fulfill the responsibilities of the internal audit activity (IAA)?

AThe IAA must collectively possess the knowledge, skills, and competencies needed to perform all engagements.

BEach internal auditor in the IAA must possess the competencies required to detect and investigate fraudulent transactions.

CThe IAA must not decline any engagement based solely on a lack the necessary knowledge, skills, and competencies to perform it.

DThe competencies of external service providers must be assessed by the chief audit executive before the IAA can use external service providers' work.

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Question: 4

Which of the following best describes the trait that an internal auditor exercises when considering the extent of work needed to achieve the engagement's objectives?

AIndependence.

BDue professional care.

CObjectivity.

DProficiency.

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Question: 5

What would a chief audit executive most likely recommend that an internal auditor do to prepare for an increased demand in advisory services?

AParticipate in continuing professional development activities, such as training courses or rotations into other business units.

BReview records from prior engagements to determine how best to align the current engagement activities with prior activities.

CExpand the scope of every future internal audit activity to all parts of the organization, rather than only the departments identified in the activity's charter.

DSpecialize in one specific aspect of internal auditing, such as risk assessment or information technology controls.

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IIA IIA-CIA-Part1 Quiz:68 Topic:2 Questions:336-340