Question 1

Which of the following is not an appropriate activity for internal auditors to perform?

Options :

A : Recommend management seek a consulting firm to advise on outsourcing.

B : Highlight matters that require management-s attention.

C : Implement solutions for specific organizational problems.

D : Accumulate data, obtain varying views, and report information to senior management.

Answer: C

Question 2

According to The IIA's Code of Ethics, which of the following statements is true?

Options :

A : When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.

B : When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.

C : When an internal auditor disagrees with the treatment received by workers in the organization-s foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.

D : When an internal auditor continues with an audit engagement, despite the audit client-s claims that the work performed is unnecessary and redundant he fails to demonstrate competency.

Answer: C

Question 3

According to IIA guidance, which of the following is not a responsibility of the chief audit executive pertaining to documenting information to support internal audit engagement results and conclusions?

Options :

A : Rating each engagement record to assess its relevance and accessibility for the organization-s board.

B : Controlling access to engagement records, including access by senior management.

C : Developing retention requirements for engagement records that are consistent with organizational guidelines.

D : Forming policies governing the custody and retention of consulting engagement records before their release to other parties.

Answer: A

Question 4

Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?

Options :

A : The internal auditor reviews the physical access to merchandise during an inventory count.

B : The audit manager conducts an internal quality assessment of the internal audit activity-s adherence to the Standards.

C : The audit manager refrains from assigning an auditor who was a former payroll clerk to conduct a payroll audit.

D : The board approves the annual performance evaluation of the chief audit executive.

Answer: A

Question 5

According to the HA Code of Ethics, which of the following statements best describes the principle of competency?

Options :

A : Internal auditors shall perform their work with honesty, diligence, and responsibility.

B : Internal auditors shall perform their work in accordance with the Standards.

C : Internal auditors shall perform their work in accordance with the law and make disclosures expected by the law.

D : Internal auditors shall be prudent in the use of information acquired while performing their work.

Answer: B

Free IIA-CRMA-ADV Mock Exam – Practice Online Confidently

Buying Options: