QUESTION: 149

Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?

Manage and support a quality assurance and improvement program.
Maintain industry-specific knowledge appropriate to the audit engagements
Set clear performance standards for internal auditors and the internal audit activity.
Apply problem-solving techniques for routine situations.

Answer(s): C

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QUESTION: 150

Which of the following would be considered a violation of The IIA's mandatory guidance on independence?

The chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer.
The board seeks senior management's recommendation before approving the annual salary adjustment of the CAE.
The CAE confirms to the board, at least once every five years, the organizational independence of the internal audit activity.
The CAE updates the internal audit charter and presents it to the board for approval periodically, not on a specific timeline.

Answer(s): B

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QUESTION: 151

According to The IIA's Code of Ethics, which of the following actions violates the principle of confidentiality?

Accepting a consulting request in the IT department without possessing the requisite experience.
Providing personal tax preparation services for a fee for several employees during the lunch hour.
Providing a friend with the marketing strategic plan, which she will use to prepare her university thesis.
Agreeing to reword an observation to avoid the client complaining directly to the auditor's supervisor.

Answer(s): C

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Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity's responsibility with regard to assessing an organization's privacy framework?

If an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.
Because the audit committee is ultimately responsible for ensuring that appropriate control processes are in place to mitigate risks associated with personal information, the internal audit activity is C. required to conduct privacy assessments.
The internal audit activity may delegate to nonaudit IT specialists the responsibility of determining whether personal information has been secured adequately and data protection controls are sufficient.
The internal audit activity should have appropriate knowledge and competence to conduct an asses .......framework.

Answer(s): D

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QUESTION: 149

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QUESTION: 151

QUESTION: 152