Question 1

Which of the following offers the best explanation of why the auditor in charge would assign a junior auditor to complete a complex part of the audit engagement?

Options :

A : The senior auditors are unavailable, as they are currently working on other portions of the engagement

B : The auditor in charge believes that the junior auditor should obtain a specific type of experience.

C : The audit engagement has a tight deadline and the work must be completed timely.

D : The auditor in charge is unable to identify audit staff with all of the required skills needed to complete the engagement

Answer: B

Question 2

An internal auditor believes that the internal audit activity's independence is impaired Which of the following actions should the internal auditor take first?

Options :

A : Report the impairment to senior management

B : Discuss the impairment with the audit manager.

C : Ascertain the best approach to disclose the impairment.

D : Decide on the extent of impact of the impairment

Answer: B

Question 3

Which of the following would be the most effective fraud prevention control?

Options :

A : Email alert sent to management for checks issued over S100.000.

B : installation of a video surveillance system in a warehouse prone to inventory loss

C : New hire training to explain fraud and employee misconduct.

D : Daily report that Identifies unsuccessful system log-in attempts

Answer: C

Question 4

The internal audit activity is responsible for which of the following actions related to an organization’s internal controls9

Options :

A : Mitigating risks affecting achievement of organizational objectives.

B : Enabling opportunities affecting achievement of organizational objectives.

C : Analyzing and advising regarding costs versus benefits of control activities.

D : Attesting to fairness of financial statements

Answer: C

Question 5

Which of the following is an example of a directive control?

Options :

A : Segregation of duties

B : Exception reports

C : Training programs,

D : Supervisory review.

Answer: C

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