Free Financial CFSA Exam Questions (page: 2)

Section 1: Sec One (1 to 66)
Details: DOMAIN I- FINANCIAL SERVICES AUDITING


QUESTION: 1
Which of the following situation would not impair audit objectivity?

A. An auditor is assigned to audit a business function that the auditor was responsible for nine
months ago
B. An individual temporarily assigned to the internal audit activity because of the individual's
expert knowledge in a particular business function assigned to audit an activity that the
individual was responsible for just prior to transferring to the internal audit activity
C. An auditor is assigned to perform a post-implementation review on a system for which the
auditor participated in the design process
D. An auditor is assigned to perform a post-implementation review on a system for which the
auditor performed a procedure review and made control recommendations prior to the system's
implementation

Answer(s): D
QUESTION: 2
Internal auditing:

A. Is an independent, objective assurance and consulting activity designed to add value and
improve an organization's operations
B. Is an independent, performance measurement and consulting activity designed to add value
and improve an organization's operations
C. Helps an organization accomplish objectives by bringing a systematic, disciplined approach
to evaluate but rarely improve the effectiveness of risk management, control and governance
D. Helps an organization accomplish objectives by bringing a targeted, disciplined approach to
evaluate but rarely improve the effectiveness of risk management, control and governance

Answer(s): A
QUESTION: 3
IIA's code of ethics applies to that provide internal auditing services:

A. Individuals
B. Entities
C. Individuals and entities
D. Individuals, entities and indirect authorities

Answer(s): C
QUESTION: 4
Internal auditors are expected to uphold the following principles:

A. Integrity, objectivity, competency

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