Question 1

An assurance mapping exercise helps an organization do which of the following?

1. Provide assurance to stakeholders that risks are managed and reported, and regulatory and legal obligations are met.

2. Fulfill best practices in the industry.

3. Identify and address any gaps in the risk management process.

4. Identify fraud.

Options :

A : 1 and 4.

B : 1 and 3.

C : 2 and 3.

D : 3 and 4.

Answer: B

Question 2

According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?

Options :

A : The organization-s audit universe is extensive and diverse.

B : There has been an increase in unanticipated requests for advisory work.

C : Previous work provided by the external service provider has been of great quality and value.

D : A recent benchmarking study found that using external service providers is a common practice of similarly-sized IAAs in other organizations.

Answer: B

Question 3

Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?

Options :

A : Adequate signs are in place to assist in locating safety equipment.

B : Servers are secured individually to their racks by locks.

C : Foam fire extinguishers are operable to protect against electrical fires.

D : Swipe card access is required to gain access to the server room.

Answer: A

Question 4

Which of the following is not a potential area of concern when an internal auditor places reliance on spreadsheets developed by users?

Options :

A : Increasing complexity over time.

B : Interface with corporate systems.

C : Ability to meet user needs.

D : Hidden data columns or worksheets.

Answer: C

Question 5

Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?

Options :

A : The internal audit activity has to ensure team members' objectivity is not impaired.

B : Auditors cannot participate in an assurance engagement of a function for which they previously performed a consulting engagement.

C : The scope and objective of the engagement is agreed upon based on the engagement client-s needs.

D : The internal audit activity must ensure management actions have been implemented effectively or risk accepted.

Answer: B

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