Question 1

An internal auditor discovered that sales contracts with business clients were not stored in the electronic document management database instead they were scanned and saved in a nonsystematic manner to server folders Which of the following would be an appropriate consequence for the internal auditor to include in the documented observation?

Options :

A : The document management policy requires business client data to be stored in a specific management database

B : Sales contracts were stored improperly because the office manager was not trained to use the electronic database and prefers to avoid it

C : if the organization becomes subject to litigation the agreed pricing terms and conditions of the contracts may be difficult to prove

D : All staff should be appropriately trained and required to follow the organization-s established policies and procedures pertaining to document management

Answer: C

Question 2

An internal auditor using the five-attribute approach to document deficiencies in a warehouse shipping process. Which of the following attributes will be included in the workpapers?

Options :

A : Risk, impact likelihood existing control, recommendation

B : Condition, cause, effect, recommendation

C : Condition, cause effect test result

D : Risk, impact test result recommendation

Answer: B

Question 3

In a health care organization the internal audit activity provides overall assurance on governance, risk and control The chief audit executive advises and influences senior management, and the audit strategy leverages the organization's management of risk According to HA guidance which of the following stages of internal audit maturity best describes this organization?

Options :

A : Infrastructure.

B : Emerging.

C : Managed.

D : Initial.

Answer: C

Question 4

During an internal audit engagement, which of the following is true regarding the decision to use statistical sampling or nonstatistical sampling?

Options :

A : The decision affects the test procedures performed.

B : The auditor-s response to errors detected will be influenced.

C : The competence of the evidence obtained is greater with statistical sampling.

D : Nonstatistical sampling may be more cost effective.

Answer: A

Question 5

Which of the following would be most likely found in an internal audit procedures manual?

Options :

A : A summary of the strategic plan of the area under review.

B : Appropriate response options for when findings are disputed by management.

C : An explanation of the resources needed for each engagement.

D : The extent of the auditor-s authority to collect data from management.

Answer: D

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