IIA IIA-CIA-Part1 Quiz 98 Topic 8 Questions 486-490

Question: 1

Which of the following is a key performance indicator for an internal audit function?

AAudit expenditures compared to financial budgets.

BPercent of required continuing education hours completed.

CImplementation of new audit computer software.

DFrequency of meetings with the board members.

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Question: 2

In order to effectively handle conflict between audit team members, an audit team leader should:

AAvoid addressing the conflict until the leader is sure that there is a problem.

BBe assertive and keep the team members focused on a resolution.

CAsk one of the team members to resolve the issue by being more conciliatory.

DTransfer one of the team members to another assignment.

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Question: 3

In a well-developed management environment, the internal audit activity would.

AReport the results of audit engagements to line management as well as to senior management.

BConduct regularly scheduled audits of existing systems and initial audits of new computer systems after they have begun operating.

CInterface primarily with senior management, minimizing interactions with line managers who are the subjects of internal audit work.

DFocus on the maintenance of accounting controls (such as segregation of the duties of authorization, recording, and custody) and report results to the audit committee.

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Question: 4

Which of the following processes should be included in a benchmarking activity?

I . Identify key measures.

II . Collect data on performances and practices.

III . Identify opportunities for improvement.

AII only

BI and III only

CII and III only

DI, II, and III.

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Question: 5

The chief audit executive (CAE) routinely provides activity reports to the board during quarterly board meetings. Senior management has asked to review the CAE's board presentation before each board meeting so that any issues or questions can be discussed beforehand. The CAE should:

AProvide the activity reports to senior management as requested and discuss any issues that may require action to be taken.

BNot provide activity reports to senior management because such matters are the sole province of the board.

CDisclose only those matters in the activity reports that pertain to expenditures and financial budgets of the internal audit activity.

DProvide information to senior management that pertains only to completed audit engagements and observations available in published engagement final communications.

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IIA IIA-CIA-Part1 Quiz:98 Topic:8 Questions:486-490