IIA IIA-CIA-Part1 Quiz 48 Topic 8 Questions 236-240

Question: 1

While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization.

Which of the following actions are most appropriate for the auditor to take?

AConsult with an immediate supervisor and notify the organization's audit committee.

BConsult with an immediate supervisor and review the organization's ethics policy.

CGive the prize to a friend or family member and notitfy the organization's audit committee.

DGive the prize to a friend or family member and review the organization's ethics policy.

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Question: 2

A chief audit executive (CAE) of an international charity reports functionally to the audit committee of the board of directors and administratively to the charity's chief financial officer (CFO).

Which of the following would impair the internal audit function's independence?

AThe CFO determines the scope of internal audit work in the accounting department.

BThe CFO manages the accounting of the budget for the internal audit function.

CThe CFO administers the annual evaluation process for the internal auditors.

DThe CFO provides feedback on the CAE's audit reports.

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Question: 3

An internal audit activity (IAA) provided assurance services for an activity it was responsible for during the preceding year.

As a result, which IIA Code of Ethics principle is presumed to be impaired?

ACompetence.

BFlexibility.

CObjectivity.

DIndependence.

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Question: 4

According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?

AThree months.

BSix months.

COne year.

DTwo years.

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Question: 5

The chief audit executive (CAE) has been asked to manage the regulatory compliance function for the organization's retail store operations. Store operations are included in the annual audit plan.

Which of the following strategies best fulfills the requirements of the Standards regarding these audits?

AThe scope of store operations audits should exclude compliance.

BStore operations audits can be fully executed with appropriate disclosure to the board.

CStore operations audits should be performed by an external service provider.

DA store operations compliance audit should be performed by a staff internal auditor under the direction of the CAE.

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IIA IIA-CIA-Part1 Quiz:48 Topic:8 Questions:236-240