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Free IIA-ACCA Exam Braindumps (page: 32)

Page 31 of 152
PDF with 604 Questions

Which of the following best explains why integrity is a necessary personal quality for internal auditors at all levels?

  1. Internal auditor integrity enables stakeholders to constantly question the work of the internal audit activity.
  2. Internal auditor integrity enables the internal auditor to avoid being challenged by any party in the organization.
  3. Internal auditor integrity enables the internal audit activity to be able to demonstrate independence.
  4. Internal auditor integrity enables users of internal auditors' work to make important business decisions.

Answer(s): D



A chief audit executive (CAE) reports functionally to the CEO and administratively to the chief financial officer, both of whom serve on the company's board of directors. According to IIA guidance, which of the following would offer the greatest protection for the independence of the internal audit activity?

  1. Appoint the CAE as a member of the board.
  2. Move the CAE's functional reporting to an executive who is not on the board.
  3. Obtain full board approval of the internal audit activity's annual audit plan.
  4. Move the CAE's functional reporting to the audit committee.

Answer(s): D



Which of the following actions best demonstrates that an internal auditor is exercising due professional care?

  1. The auditor performs thorough reviews and provides absolute assurance of regulatory compliance.
  2. The auditor is alert to the possibility of fraud and activities where irregularities are most likely to occur.
  3. The auditor recommends improvements for all of the organization's procedures and practices.
  4. The auditor is cognizant of reducing travel expenses by combining a personal vacation with a business trip.

Answer(s): B



A government agency maintains a system of internal control, according to the COSO model, and has made a change to its employee performance reviews and rewards program. This change relates to which of the following components of COSO's internal control framework?

  1. Control environment.
  2. Control activities.
  3. Information and communication.
  4. Monitoring activities.

Answer(s): A






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