A large retail organization, which sells most of its products online, experiences a computer hacking incident. The chief IT officer immediately investigates the incident and concludes that the attempt was not successful. The chief audit executive (CAE) learns of the attack in a casual conversation with an IT auditor. Which of the following actions should the CAE take?1. Meet with the chief IT officer to discuss the report and control improvements that will be implemented as a result of the security breach, if any.2. Immediately inform the chair of the audit committee of the security breach, because thus far only the chief IT officer is aware of the incident.3. Meet with the IT auditor to develop an appropriate audit program to review the organization's Internet-based sales process and key controls.4. Include the incident in the next quarterly report to the audit committee.
Answer(s): A
During an assurance engagement, an internal auditor noted that the time staff spent accessing customer information in large Excel spreadsheets could be reduced significantly through the use of macros. The auditor would like to train staff on how to use the macros. Which of the following is the most appropriate course of action for the internal auditor to take?
Answer(s): C
According to IIA guidance, which of the following strategies would add the least value to the achievement of the internal audit activity's (IAA's) objectives?
According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?
Answer(s): B
The chief audit executive (CAE) of a small internal audit activity (IAA) plans to test conformance with the Standards through a quality assurance review. According to the Standards, which of the following are acceptable practice for this review?1. Use an external service provider.2. Conduct a self-assessment with independent validation.3. Arrange for a review by qualified employees outside of the IAA.4. Arrange for reciprocal peer review with another CAE.
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