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Free IIA-ACCA Exam Braindumps (page: 34)

Page 33 of 152
PDF with 604 Questions

According to The IIA's Code of Ethics, which of the following is true?

  1. Confidentiality requires that auditors disclose all material facts known to them.
  2. Integrity requires that auditors perform internal audit services in accordance with the Standards.
  3. Objectivity requires that auditors perform their work with honesty, diligence, and responsibility.
  4. Confidentiality requires that auditors be prudent in the use and protection of client information.

Answer(s): D



Who is responsible for setting the risk appetite?

  1. External auditors.
  2. Chief risk officer.
  3. Operations management.
  4. Board of directors.

Answer(s): D



Which of the following best describes the details that must be included in the quality assurance and improvement program (QAIP) report to senior management and the board?

  1. The scope and frequency of internal and external assessments as well as the qualifications and independence of the assessor.
  2. The scope and cost of the QAIP. frequency of internal and external assessments, and conclusions of the assessor.
  3. The scope, findings, risks, recommendations, and agreed-upon improvement actions.
  4. The number and types of people involved in the assessment, costs, and duration of the QAIP

Answer(s): C



Which of the following situations is most likely to impair internal audit objectivity?

  1. An internal auditor reports both functionally and administratively to the chief financial officer (CFO).
  2. An internal auditor, who was an accounts receivable intern for the organization three years prior, performs an audit of the accounts receivable cycle.
  3. According to policy, the internal auditor must obtain approval from the CFO prior to requesting information for internal audit purposes.
  4. An internal auditor performs an audit in a department that is led by the auditor's close friend.

Answer(s): D






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