QUESTION: 89

Which of the following behaviors could represent a significant ethical risk if exhibited by an organization's board?

Requesting a private meeting with senior management, without the presence of the chief audit executive.
Intervening during an audit involving ethical wrongdoing.
Discussing periodic reports of ethical breaches.
Authorizing an investigation of an unsafe product.

Answer(s): B

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QUESTION: 90

Which of the following is an example of collusion?

An employee includes a faked receipt in his expense claim, and the claim is signed by the employee's manager.
A vendor inflates the price of an item and remits a portion of the excess to the purchasing manager.
A vendor sends a duplicate invoice with a new invoice number, and the accounts payable system fails to detect the duplication.
An employee works with the IT manager to develop a program for identifying duplicate invoice payments.

Answer(s): B

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QUESTION: 91

Which of the following best demonstrates the authority of the internal audit activity?

Suggesting alternatives to decision makers.
Improving the integrity of information.
Determining the scope of internal audit services.
Achieving engagement objectives.

Answer(s): C

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QUESTION: 92

An internal auditor is evaluating techniques management uses to mitigate risks within a particular product division.
Which of the following is an example of risk reduction?

Management sells the product division to a competitor.
Management outsources the product division to a third party.
Management allows the product division to remain unchanged.
Management modifies the product division to minimize errors.

Answer(s): D

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QUESTION: 89

QUESTION: 90

QUESTION: 91

QUESTION: 92

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