To meet the resource requirements of this year’s internal audit plan, the chief audit executive (CAE) has recruited additional staff auditors, including an employee who resigned as a senior supervisor from the accounts payable department two months ago. There is a scheduled accounts payable review that the CAE wants to start within the next five months. Which approach should the CAE take, knowing the expertise of his new recruit in the area intended to be audited?
The manager of the payroll department requested a review of the payroll process, but only wants the engagement to include processes related to approval of time worked. What type of activity is this?
An internal auditor assessed that the risk of steel theft at a plant is high. In response, the plant ' s management introduced a number of controls, including fences around the facility, a metal detector at the entrance, and monthly steel inventory counts. If the controls operate as intended, which of the following outcomes would the internal auditor hope to see?
Which of the following actions should the audit committee take to promote organizational independence for the internal audit activity?
The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to
be included in the charter?
An internal auditor is reviewing the organization’s procurement processes. The procurement manager states that suppliers’ bank details are verified by phone call directly with the supplier before being updated in the procurement system. The organization has around 3,000 suppliers. The auditor is skeptical that a phone call is made for each supplier when bank details are changed.
The auditor decides to verify the manager’s statement by analyzing the change to one supplier’s bank details.
Which piece of evidence would convince the auditor that the control described by the procurement manager is effective?
Which of the followIng would permit an internal audit activity to use the statement " conducted m conformance with the International Standards for the Professional Practice of Internal Auditing m audit reports?
What should the chief audit executive do when the internal audit activity is found to be in nonconformance with the Code of Ethics or the Standards?
Which of the following statements represents the most appropriate correlation between an organization ' s risk maturity and the internal audit activity’s consulting role in risk management processes?
Which of the following is a responsibility of the internal audit activity as it relates to risk and risk management?
An internal auditor is reviewing employee travel expenses from the previous six months for fraud. Which of the following tests would best detect instances where personal travel has been claimed?
Which of the following best describes the Standards requirement for collective proficiency of the internal audit activity?
According to IIA guidance, which of the following best describes expense reimbursement fraud?
An internal auditor is reviewing employee travel expenses from the previous six months for fraud. Which of the following tests would best detect instances where personal travel has been claimed?
What is the ultimate goal of establishing a robust risk management framework in an organization?
Which of the following statements is true regarding consulting engagements?
According to MA guidance, which of the following statements is true regarding an effective governance process?
During the closing meeting of a procurement audit, the business manager disagrees with the observation presented by the engagement supervisor and accuses the team of not understanding the procurement objectives The engagement supervisor blames the manager for impeding the audit What skillset should the chief audit executive utilize to manage this situation?
Which of the following scenarios depicts an appropriate role for the internal audit activity to take regarding an organization ' s risk management process?
