Which of the following is not an appropriate role of the internal audit activity in governance activities?

Answer(s): B

When developing the annual audit plan and reviewing risk assessment priorities, a chief audit executive should always identify the:

Answer(s): D

Which of the following actions by a chief audit executive would be most effective in preventing fraud?

Ensure that the board is aware of all fraud that has been identified or reported.
Train the internal audit staff in identifying fraud indicators.
Review the adequacy of all policies that describe prohibited activities.
Submit an annual report to the board on all fraud that has been detected.

Answer(s): C

A chief audit executive would most likely use risk assessment for audit planning because it provides:

A systematic process for assessing and integrating professional judgment about probable adverse conditions.
A listing of potentially adverse effects on the organization.
A list of auditable activities in the organization.
The probability that an event or action may adversely affect the organization.

Answer(s): A

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