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Certified Internal Auditor Exam Questions 211–215 (page: 44)

Which of the following elements is important for an internal auditor to consider when performing a privacy risk assessment of an organization?

I). Areas where personal information is collected, used, stored, and disseminated.
II). Inherent risk.
III). Privacy practices of competitors.
IV). Third-party recipients of information.

The main reason to establish internal controls in an organization is to

The top three sales representatives for a company consistently include non-allowable charges on their expense reports. Line management is reluctant to deny reimbursement of the charges for fear of losing the sales representatives. This situation has the greatest negative impact on which of the following internal control components?

According to the International Professional Practices Framework, risk is

I). Defined as the negative effect of events that are expected to occur.
II). Measured in terms of consequences.
III). Measured in terms of likelihood.

Which of the following should be incorporated in a risk management policy?

I). Boundaries and limit structures.
II). Requirements for reporting risk.
III). Risk authorities.