Free Access IIA.IIA-CIA-Part1.v2023-03-29.q231 Practice Test (Page 41)

Question 196

During a quality assessment of the internal audit activity an auditor is assessing whether the independence of the internal audit activity is at risk of being compromised. According to IIA guidance, which of the following would provide the best source of evidence for such an assessment?

A.A review of the audit opinions issued from a sample of recent audit engagements

B.The internal audit charter as endorsed by the organization's governing body

C.An organizational chart showing the reporting line of the chief audit executive to the CEO

D.An assessment of the scope of the audit work performed by the internal au<M activity

Question 197

A technology company recently hired an entry-level internal auditor. To achieve conformance with the Standards, which of the following must the newly hired internal auditor possess?

A.Industry-specific knowledge

B.IT audit expertise.

C.At least one audit-related certification

D.An understanding of fraud and fraud risk.

Question 198

According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?

A.Deficiencies within the internal audit activity must be reported to the board as soon as they are noted.

B.Results of ongoing monitoring of the internal audit activity's performance must be reported to senior management and the board at least annually

C.The external assessor must present the findings from the external assessment to senior management and the board upon completion.

D.Results of internal assessments need to be reported to the board at least once every five years.

Question 199

The chief audit executive (CAE) has hired a new internal auditor who was immediately assigned to a procurement function audit. Because the new auditor's name is similar to that of the procurement manager, some staff members think the two are related, although they are not. Which of the following actions is most appropriate for the CAE to take?

A.Remove the new internal auditor from the engagement team.

B.Discuss the matter with the appropriate personnel to alleviate concerns.

C.Closely supervise the new auditor and carefully review his work.

D.Take no action, as there is no impairment to independence.

Question 200

Which of the following statements is true regarding the independent peer review process undertaken to fulfill the requirement for an external quality assessment?

A.Peer reviews are generally less cost-effective than hiring an external quality assessor

B.Two individuals in the same internal audit activity may perform an independent peer review as long as they do not report to the same audit manager

C.Individuals from a separate but related organization such as an affiliate may perform peer reviews

D.Individuals working in separate internal audit activities may be considered independent as long as do not report to the same chief audit executive

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Question 196

Question 197

Question 198

Question 199

Question 200

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