QUESTION: 293 Exam Topic: 3, Volume C

The internal audit activity of an organization obtained approval to add a senior auditor to its staff. The chief audit executive, audit manager, and audit supervisor each will interview the candidates.

According to the Standards, which of the following best explains the involvement of management in the interview process?

Provides audit management with the opportunity to communicate expectations regarding ethical behavior standards.
Enables audit management to outline its quality assurance and improvement program with the senior auditor.
Assists audit management in planning by more effectively allocating the senior auditor to appropriate audits.
Allows audit management to explain the criteria that will be used to evaluate the senior auditor's performance.

Answer(s): C

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QUESTION: 294 Exam Topic: 3, Volume C

The chief audit executive (CAE) of an organization has established an internal audit activity (IAA) quality assessment program. According to IIA guidance, which of the following would be part of this program?

Assessment of the IAA conducted independently of client feedback, and the review of individual audits to determine the quality and timeliness of supervision.
Assessment of the IAA conducted independently of client feedback, and identified areas of improvement reviewed at the end of the year.
Compliance with a checklist of required audit procedures, and review of individual audits to determine the quality and timeliness of supervision.
Compliance with a checklist of required audit procedures, and identified areas of improvement reviewed at the end of the year.

Answer(s): C

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QUESTION: 295 Exam Topic: 3, Volume C

The internal audit activity performs the following sequence of risk management activities:
identification, analysis, and evaluation. According to IIA guidance, which of the following assurance approaches does this describe?

Process elements approach.
Enterprise-wide risk management approach.
Key principles approach.
Maturity model approach.

Answer(s): A

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QUESTION: 296 Exam Topic: 3, Volume C

A chief audit executive (CAE) has decided to add an engagement to the current audit plan which will exceed available audit resources. Which of the following is the best course of action for the CAE to take?

Present the plan change to senior management and request additional resources before going to the board of directors.
Seek approval from senior management and the board of directors for the plan change and advise them of the issue of limited resources.
Add this change to the plan and request senior management to indicate which other engagement should be deleted to keep the overall plan within resource constraints.
Immediately seek additional resources from senior management and the board of directors to meet the needs of the organization.

Answer(s): B

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QUESTION: 293 Exam Topic: 3, Volume C

QUESTION: 294 Exam Topic: 3, Volume C

QUESTION: 295 Exam Topic: 3, Volume C

QUESTION: 296 Exam Topic: 3, Volume C