QUESTION: 209

According to IIA guidance, which of the following statements is true regarding the authority of the chief audit executive (CAE) to release previous audit reports to outside parties?

The CAE can release prior internal audit reports with the approval of the board and senior management.
The CAE can employ judgment and release prior audit results as they deem appropriate and necessary.
The CAE can only release prior information outside the organization when mandated by legal or statutory requirements.
The CAE can release prior information provided it is as originally published and distributed within the organization.

Answer(s): B

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An internal auditor has been assigned to facilitate a risk and control self-assessment for the finance group.
Which of the following is the most appropriate role that she should assume when facilitating the workshop?

Express an opinion on the participants' inputs and conclusions as the assessment progresses.
Provide appropriate techniques and guidelines on how the exercise should be undertaken.
Evaluate and report on all issues that may be uncovered during the exercise.
Screen and vet participants so that the most appropriate candidates are selected to participate in the exercise.

Answer(s): B

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QUESTION: 211

An audit identified a number of weaknesses in the configuration of a critical client/server system. Although some of the weaknesses were corrected prior to the issuance of the audit report, correction of the rest will require between 6 and 18 months for completion. Consequently, management has developed a detailed action plan, with anticipated completion dates, for addressing the weaknesses.
What is the most appropriate course of action for the chief audit executive to take?

Assess the status of corrective action during a follow-up audit engagement after the action plan has been completed.
Assess the effectiveness of corrections by reviewing statistics related to unplanned system outages, and denials of service.
Reassign information systems auditors to assist in implementing management's action plan.
Evaluate the ability of the action plan to correct the weaknesses and monitor key dates and deliverables.

Answer(s): D

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QUESTION: 212

Which of the following is not an outcome of control self-assessment?

Informal, soft controls are omitted, and greater focus is placed on hard controls.
The entire objectives-risks-controls infrastructure of an organization is subject to greater monitoring and continuous improvement.
Internal auditors become involved in and knowledgeable about the self-assessment process.
Nonaudit employees become experienced in assessing controls and associating control processes with managing risks.

Answer(s): A

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QUESTION: 212