Free IIA-CIA-Part1 Mock Exam – Practice Online Confidently

Which of the following are core responsibilities to be included in the internal audit charter?1. Review reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information.2. Determine the adequacy and effectiveness of the organizations systems of internal accounting and operating controls.3. Participate in the planning and performance of audits of potential acquisitions with the organization's outside accountants and other members of the corporate staff.4. Report to those members of management who should be informed of results of audit examinations, the audit opinions formed, and the recommendations made.

A company has established its environmental audit activity as part of its legal department rather than part of its internal audit activity, which reports to the audit committee. The board has requested that the chief audit executive (CAE) provide an annual opinion on whether environmental risks are being properly addressed.In these circumstances, the CAE should recommend to the audit committee that the internal audit activity:

Which of the following is not a benefit of using information technology in solving audit problems?

During a payroll audit of a large organization, an auditor noted that the assistant personnel director is responsible for many aspects of the computerized payroll system, including adding new employees in the system; entering direct-deposit information for employees; approving and entering all payroll changes; and providing training for system users. After discussions with the director of personnel, the auditor concluded that the director was not comfortable dealing with information technology issues and felt obliged to support all actions taken by the assistant director. The auditor should:

Using the internal audit department to coordinate regulatory examiners' efforts is beneficial to the organization because internal auditors can: