IIA IIA-CIA-Part1 Quiz 26 Topic 4 Questions 126-130

Question: 1

Which of the following professional development approaches would offer internal auditors the most opportunities to broaden their engagement experiences?

AAssign more experienced internal auditors to mentor the less experienced auditors.

BSend internal auditors to external trainings in advanced internal audit topics.

CAppraise internal auditors' performance and competencies at least annually and issue constructive feedback.

DRotate internal auditors among different engagement assignments.

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Question: 2

Which of the following items should the chief audit executive disclose to senior management regarding the results of the internal audit activity's quality assessments?

AThe internal audit activity's plan for resource allocation.

BThe amount of the organization's potential loss prevented by the risk-based auditing of the internal audit activity.

CThe number of audits from the annual internal audit plan that were completed last year.

DThe qualifications and independence of the assessment Team.

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Question: 3

In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?

AMaintaining industry-specific knowledge appropriate to the organization.

BAssessing how IT contributes to organization objectives, risks, and relevance to audit.

CMaintaining technical aspects of accounting standards and reporting processes.

DUnderstanding regulatory and legal framework and assessing its relevance.

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Question: 4

Which of the following best describes the details that must be included in the quality assurance and improvement program (QAIP) report to senior management and the board?

AThe scope and frequency of internal and external assessments as well as the qualifications and independence of the assessor.

BThe scope and cost of the QAIP. frequency of internal and external assessments, and conclusions of the assessor.

CThe scope, findings, risks, recommendations, and agreed-upon improvement actions.

DThe number and types of people involved in the assessment, costs, and duration of the QAIP

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Question: 5

Which of the following situations is most likely to impair internal audit objectivity?

AAn internal auditor reports both functionally and administratively to the chief financial officer (CFO).

BAn internal auditor, who was an accounts receivable intern for the organization three years prior, performs an audit of the accounts receivable cycle.

CAccording to policy, the internal auditor must obtain approval from the CFO prior to requesting information for internal audit purposes.

DAn internal auditor performs an audit in a department that is led by the auditor's close friend.

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IIA IIA-CIA-Part1 Quiz:26 Topic:4 Questions:126-130