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Free IIA CIA Exam Braindumps (page: 52)

Page 52 of 427
PDF with 1702 Questions

The chief audit executive (CAE) routinely provides activity reports to the board during quarterly board meetings. Senior management has asked to review the CAE's board presentation before each board meeting so that any issues or questions can be discussed beforehand. The CAE should

  1. Provide the activity reports to senior management as requested and discuss any issues that may require action to be taken.
  2. Not provide activity reports to senior management because such matters are the sole province of the board.
  3. Disclose only those matters in the activity reports that pertain to expenditures and financial budgets of the internal audit activity.
  4. Provide information to senior management that pertains only to completed audit engagements and observations available in published engagement final communications.

Answer(s): A



Reportable audit findings must be

I). Documented by facts
II). Supported by relevant evidence.
III). Agreed to by management of the audited area.
IV). Convincing enough to compel corrective action.

  1. I and IV only.
  2. II and III only.
  3. I, II, and IV only.
  4. I, II, III, and IV.

Answer(s): C



Which of the following is not an appropriate role of the internal audit activity in governance activities?

  1. Support the board in enterprise-wide risk assessment.
  2. Ensure the timely implementation of audit recommendations.
  3. Monitor compliance with the organization's ethics policies.
  4. Discuss areas of significant risk.

Answer(s): B



If management has not established a risk management process, the internal audit activity could

  1. Take a proactive role that supplements traditional assurance activities.
  2. Identify and mitigate risks to the organization.
  3. Assume responsibility for the management of identified risks.
  4. Assume primary responsibility for determining if adequate and effective processes are in place.

Answer(s): A






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