QUESTION: 57

The primary reason that a bank would maintain a separate compliance function is to

Better manage perceived high risks
Strengthen controls over the bank's investments
Ensure the independence of line and senior management
Better respond to shareholder expectations

Answer(s): A

QUESTION: 58

When reviewing operational risk for a department whose manager adopts a laissez-faire style of leadership, it is most important for the internal auditor to verify that

Employee decisions follow department and company guidelines
The manager considers employees' input when designing new procedures
Employees are empowered to deal with unusual or emergency situations
Management has adopted an open-door policy to assist with communication

Answer(s): A

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QUESTION: 59

A major corporation is considering significant organizational changes. Which of the following groups would not be responsible for implementing these changes?

Employees
Senior management
Common stockholders
Outside consultants

Answer(s): C

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QUESTION: 60

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

Avoid addressing the conflict until the leader is sure that there is a problem.
Be assertive and keep the team members focused on a resolution.
Ask one of the team members to resolve the issue by being more conciliatory.
Transfer one of the team members to another assignment.

Answer(s): B

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QUESTION: 57

QUESTION: 58

QUESTION: 59

QUESTION: 60

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