Which of the following is an example of collusion?
Options
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Correct Answer:
B
Q: 12
An internal auditor who is carrying out an engagement to review controls related to corporate tax
reporting must possess which of the following competencies?
1.
Proficiency in analyzing key IT risks and controls.
2.
The ability to recognize significant deviations from good business practices.
3.
Knowledge of key indicators of fraud in tax reporting.
4.
The ability to recognize the existence of problems related to tax accounting.
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Correct Answer:
B
Q: 13
During an audit engagement, the internal auditor discussed a risk mitigation recommendation with
the manager of the area under review. The manager disagreed with the risk assessment and
recommendation. The two failed to come up with an alternative solution, and the auditor decided to
proceed with including the original recommendation in the engagement report. Which of the
following is especially important in dealing with this type of situation?
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Correct Answer:
A
Q: 14
Which of the following statements accurately describes the responsibility of the internal audit
activity regarding IT governance?
1.
The internal audit activity does not have any responsibility because IT governance is the
responsibility of the board and senior management of the organization.
2.
The internal audit activity must assess whether the IT governance of the organization supports
the organization's strategies and objectives.
3.
The internal audit activity may assess whether the IT governance of the organization supports
the organization's strategies and objectives.
4.
The internal audit activity may accept requests from management to perform advisory services
regarding how the IT governance of the organization supports the organization's strategies and
objectives.
Options
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Correct Answer:
A
Q: 15
A credit card company detects potential errors in credit card numbers by checking whether all
entered numbers contain the correct amount of digits. This is an example of which of the following IT
controls?
Options
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Correct Answer:
A
Q: 16
Which of the following items should the chief audit executive disclose to senior management
regarding the results of the internal audit activity's quality assessments?
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Correct Answer:
B
Q: 17
The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational
responsibility for the regulatory compliance function. The audit committee requests an assessment
of regulatory compliance. According to IIA guidance, which of the following is the CAE's best course
of action?
Options
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Correct Answer:
D
Q: 18
Which of the following is the most common way that occupational fraud is detected?
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Correct Answer:
B
Q: 19
According to IIA guidance, which of the following statements describes one of the similarities
between assurance and consulting services?
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Correct Answer:
A
Q: 20
Which of the following controls could an internal auditor reasonably conclude is effective by
observing the physical controls of a large server room?
