IIA IIA-CIA-Part1 Quiz 67 Topic 6 Questions 331-335

Question: 1

According to IIA guidance, which of the following is the most likely obstacle to undertaking a quality assurance and improvement program by the internal audit activity?

AThe size of internal audit department under review.

BThe time commitment to complete.

CThe lack of independence and objectivity.

DThe inability to adequately fund the program.

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Question: 2

With regard to external assessments of an internal audit activity (IAA), which of the following is the chief audit executive required to discuss with the board?

AExternal reviewer conflicts of interest, and the need for an external assessment more frequently than once every five years.

BExternal reviewer conflicts of interest, and the timeline of the external assessment.

CThe need for an external assessment more frequently than once every five years, and the simplest method for the external reviewer to join the IAA's organization.

DThe simplest way for the external reviewer to join the IAA's organization, and the timeline of the external assessment.

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Question: 3

Performing a monthly analysis of potential duplicate invoices paid to suppliers is an example of which type of fraud control?

APreventive control.

BCorrective control.

CProactive control.

DDetective control.

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Question: 4

Which of the following are typical management control activities?

AReconciliation, planning, and inquiry.

BReconciliation, planning, and documentation.

CReconciliation, inquiry, and documentation.

DPlanning, inquiry, and documentation.

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Question: 5

Which of the following definitions best describes enterprise risk management?

AEnterprise risk management is narrower than internal control and focuses on managing the risk of loss resulting from external events.

BEnterprise risk management is narrower than internal control and focuses on risk mitigation strategies across the enterprise.

CEnterprise risk management is broader than internal control and focuses on risk identification and management, and assurance that business objectives will be met.

DEnterprise risk management is broader than governance and internal control, and focuses on activities designed to ensure that risks are contained at a level acceptable to the enterprise.

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IIA IIA-CIA-Part1 Quiz:67 Topic:6 Questions:331-335