Question: 1
The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The audit committee requests an assessment of regulatory compliance. According to IIA guidance, which of the following is the CAE's best course of action?
Question: 2
Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework?
Question: 3
Which of the following actions should an internal auditor take to exercise due professional care?
1. Consider the probability of significant noncompliance in each audit engagement.
2. Weigh the cost of assurance against the benefits.
3. Perform assurance procedures with sufficient care to ensure that all risks are identified.
Question: 4
When taken by a chief audit executive, which of the following actions would be most likely to prevent division exaggerating sales reports?
1) Announcing a series of internal audit engagements focusing on compliance with corporate sales-reporting
2) Asking the president and the board to issue a statement of corporate policy stressing the importance of account reporting and the negative consequences of intentional misreporting.
3) Setting up a hotline for employees to report fraudulent behavior anonymously.
4) Assisting the controller in developing and monitoring a series of business process indicators , which are history with, but independent of sales.
Question: 5
A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?
