Question: 1
A large retail organization, which sells most of its products online, experiences a computer hacking incident. The chief IT officer immediately investigates the incident and concludes that the attempt was not successful. The chief audit executive (CAE) learns of the attack in a casual conversation with an IT auditor. Which of the following actions should the CAE take?
1. Meet with the chief IT officer to discuss the report and control improvements that will be implemented as a result of the security breach, if any.
2. Immediately inform the chair of the audit committee of the security breach, because thus far only the chief IT officer is aware of the incident.
3. Meet with the IT auditor to develop an appropriate audit program to review the organization's Internet-based sales process and key controls.
4. Include the incident in the next quarterly report to the audit committee.
Question: 2
According to IIA guidance, which of the following actions might place the independence of the internal audit function in jeopardy?
Question: 3
Which of the following types of internal audit consulting engagements is an example of a facilitation service?
i. Conducting control self assessment workshops.
ii. Participating on standing committees.
iii. Reviewing regulatory compliance.
IV. Benchmarking.
V . Estimating savings from outsourcing processes.
Question: 4
The risk that an auditor's procedures will lead to the conclusion that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is
Question: 5
Advisory and related client service activities, the nature and scope of which are agreed upon with the client, are best described as
