IIA-CIA-Part1 practice questions, page 42 of 47, with answer review and explanations.
Question 206
When planning an audit engagement, what should an internal auditor first consider when assessing the risk of fraud in the area to be audited?
Impact of and exposure to fraud.
Existence of evidence of fraud.
Organizational structure.
Management's risk appetite.
Question 207
Which of the following risk factors is most subjective?
Changes in staff, systems, or the environment.
Prior audit findings.
Size of the unit being audited.
Competency of operating management.
Question 208
Which aspect of the audit function would be most impacted by a lack of coordination between an organization's internal and external auditors?
Responsiveness.
Timeliness.
Effectiveness.
Efficiency.
Question 209
An organization's chief audit executive (CAE) has been asked to monitor and report on any violations of the organization's code of conduct. The CAE should:
Review and adjudicate all complaints.
Lead the committee responsible for the oversight of the code.
Develop specific procedures to ensure that the code is clearly communicated to all employees.
Participate in an advisory capacity on the committee that adjudicates any violations.
Question 210
Which of the following is least likely to enhance the independence of an internal audit activity?
The existence of a formal written charter for the internal audit activity.
Submission of an annual internal audit work plan to the audit committee.
A direct reporting relationship to the audit committee.
Adherence to the organization's position classification structure.