Which of the following statements best represents the duo professional care that is required of internal auditor' s?

Which of the following processes or tools can be used as ongoing internal assessments of the performance of the internal audit activity?
1. Analyses of audit plan completion and cost recoveries.
2. Selective peer reviews of work papers by staff involved in the respective audits.
3. Self-assessment of the internal audit activity with on-site validation by a qualified independent reviewer.
4. Feedback from audit customers and stakeholders.

Considering the concepts of organizationwide risk management and the system of internal controls, the internal audit activity as a whole can be considered which of the following types of control?

The chief audit executive for an organization has just completed a risk assessment process, identified the areas with the highest risk, and assigned an audit priority to each.
Which of the following statements is true and consistent with the International Professional Practices Framework?
I. Items should be ranked in the order of quantifiable dollar exposure to the organization.
II. The audit priorities should be in order of major control deficiencies.
III. The risk assessment, though quantified, is the result of professional judgments about both exposures and probability of occurrences.

A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?