Question 1

The charter of the internal auditing department should:

Options :

A : Describe audit programs to be carried out.

B : Authorize access to records, personnel, and physical properties relevant to the performance of audits.

C : Define the audit department-s work schedule, staffing plan, and financial budget.

D : Provide recommended formats to report significant audit findings and recommendations.

Answer: B

Question 2

Control by management is the result of

Options :

A : Determining efficiency and economy of operations, including whether objectives and goals have been met.

B : Planning, organizing, and directing of organizational activities.

C : Ascertaining needs, identifying alternative courses of action, setting standards for measuring performance, and comparing outcomes with predetermined standards.

D : Authorizing and monitoring performance, and comparing actual performance with planned performance.

Answer: B

Question 3

Which of the following statements is not true about risk registers and risk profiles?

Options :

A : b) Risk registers change and risk profiles do not change over a time period.

B : c) Risk registers show current risks and residual risks.

C : d) Risk ownership is derived from risk profiles.

D : a) Risk profiles provide a mechanism for prioritizing risk treatment efforts.

Answer: A

Question 4

Which of the following procedures is not a step that an auditor would perform when planning an audit of an organization?

Options :

A : Obtaining detailed knowledge about the organization.

B : Obtaining a management representation letter.

C : Assessing the audit risk of the organization.

D : Having discussions with the organization-s management team.

Answer: B

Question 5

Internal auditors are responsible for continuing their education to maintain their proficiency. Which of the following is true regarding the continuing education requirements of the practicing internal auditor?

Options :

A : In-house programs meet continuing professional education requirements only if they have been preapproved by The IIA.

B : CIAs have formal requirements that must be met in order to continue as CIAs.

C : Attendance, as an officer or committee member, at formal IIA meetings does not meet the criteria of continuing professional development.

D : Practicing certified internal auditors are required to obtain 40 hours of continuing professional education every 2 years.

Answer: B

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