IIA IIA-CIA-Part1 Quiz 47 Topic 9 Questions 231-235

Question: 1

Suspecting fraud, the chief financial officer (CFO) asked the internal audit activity to investigate a significant increase in travel related expenditures. Work was performed by a qualified internal auditor. Following the completion of the engagement, the chief audit executive (CAE) reported to the CFO that no violations were found and no fraud had occurred.

According to the Standards, which of the following principles did the CAE violate?

ADue professional care.

BIndividual objectivity.

CProficiency.

DOrganizational independence.

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Question: 2

A new chief audit executive (CAE) of a large internal audit activity (IAA) is dissatisfied with the current amount and quality of training being provided to the staff and wishes to implement improvements. According to IIA guidance, which of the following actions would best help the CAE reach this objective?

ARequire that all staff obtain a minimum of two relevant audit certifications.

BPerform a gap analysis of the IAA's existing knowledge, skills and competencies.

CEngage a consultant to benchmark the IAA's training program against its peers.

DAssign one experienced manager to better coordinate staff training and development activities.

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Question: 3

According to IIA guidance, which of the following individuals would best be considered independent for the purpose of participating in an external assessment of the quality assurance and improvement program for an internal audit activity (IAA)?

AA former employee knowledgeable of the IAA who resigned three years earlier from the organization.

BA competent employee of an independent external organization that provides co-sourcing services to the IAA.

CAn employee in an affiliated organization who has never worked directly with the IAA.

DAn employee in the parent organization who has not had any previous contact with the IAA.

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Question: 4

The results of an internal audit activity's (IAA) quality assurance and improvement program are favorable and an external assessment was completed within the last five years. Which of the following statements may the IAA use to describe its work?

A'Completed with the advance certification of the External Assessors Association for Auditing Review.'

B'Conforms with the International Standards for the Professional Practice of Internal Auditing.'

C'Certified 100% accuracy, per the International Standards of External Assessment.'

D'Compliant with all domestic and international legal statutes, and certified quality assured for ten years.'

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Question: 5

Why are preventative controls generally preferred to detective controls?

ABecause preventive controls promote doing the right thing in the first place, and lessen the need for corrective action.

BBecause preventive controls are more sensitive and identify more exceptions than detective controls.

CBecause preventive controls include output procedures, which cover the full range of possible reviews, reconciliations and analysis.

DBecause preventive controls identify exceptions after-the-fact, allowing them to be used after the entire review is complete and therefore finding exceptions that detective controls may have missed.

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IIA IIA-CIA-Part1 Quiz:47 Topic:9 Questions:231-235