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Essentials of Internal Auditing

Last Update May 5, 2024
Total Questions : 227

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Last Update May 5, 2024
Total Questions : 227

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Last Update May 5, 2024
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Essentials of Internal Auditing Questions and Answers

Questions 1

Which of the following best demonstrates organizational independence of the internal audit activity?

Options:

A.

The chief audit executive (CAE) reports functionally to the CEO.

B.

The CAE's compensation is approved by the chief financial officer.

C.

The CAE's appointment Is determined by the CEO

D.

The CAE reports administratively to the chief operating officer.

Questions 2

Which of the following best describes why a chief audit executive might obtain the services of a fraud specialist to assist in a major fraud investigation'?

Options:

A.

Fraud specialists are better at using computer-assisted audit techniques

B.

Fraud specialists are better equipped to act as an expert witness in court

C.

Fraud specialists are better able to properly apply due professional care

D.

Fraud specialists are better at using crime scene investigation techniques

Questions 3

Once an organization's risks are identified, what would be the next step to ensure resources are properly allocated to manage those risks?

Options:

A.

Risk responses must be selected.

B.

Risks must be assessed.

C.

The risk universe must be established.

D.

Risk responses must be aligned.