Question 1

Management is developing and implementing a risk and control framework for use throughout the organization. Which of the following elements should be included in the organization's control framework?
1. Appropriate levels of authority and responsibility.
2. Supervision of staff and appropriate review of work.
3. The seniority of management in the organization.
4. The ability to trace each transaction to an accountable and responsible individual.
  • Question 2

    Which of the following is not a role of the internal audit activity in facilitating risk identification and evaluation?
  • Question 3

    According to IIA guidance, which of the following is an area in which the internal auditor should be proficient?
  • Question 4

    According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization's operations?
  • Question 5

    The chief audit executive (CAE) is planning to conduct an internal assessment of the internal audit activity (IAA). Part of this assessment will include benchmarking. According to IIA guidance, which of the following qualitative metrics would be appropriate for the CAE to use?
    1. Average client customer satisfaction score for a given year.
    2. Client survey comments on how to improve the IAA.
    3. Auditor interviews once an audit has been completed.
    4. Percentage of audits completed within 90 days.