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NEW QUESTION 45
Which of the following statements is false regarding roles and responsibilities pertaining to risk management and control?

  • A. Operating managers are responsible for assessing risks and controls in their departments.
  • B. Internal auditors provide assurance about risk management and control process effectiveness.
  • C. The chief audit executive is responsible for overseeing the evaluation risk management and control processes.
  • D. Senior management is charged with overseeing the establishment risk management and control processes.

Answer: C

 

NEW QUESTION 46
A chief audit executive is preparing interview questions for the upcoming recruitment of a senior internal auditor. According to IIA guidance, which of the following attributes shows a candidate's ability to probe further when reviewing incidents that have the appearance of misbehavior?

  • A. Curiosity.
  • B. Flexibility.
  • C. Initiative.
  • D. Integrity.

Answer: A

 

NEW QUESTION 47
Which of the following is true regarding the COSO enterprise risk management framework?

  • A. Control environment is one of the framework's eight components.
  • B. The framework categorizes an organization's objectives to distinct, non overlapping objectives.
  • C. The framework facilitates effective risk management, even if objectives have not been established.
  • D. The framework integrates with, but is not dependent upon, the corresponding internal control framework.

Answer: D

 

NEW QUESTION 48
Which of the following data analytics tools would be applied by an internal audit activity positioned at the lowest level of maturity?

  • A. Spreadsheets.
  • B. Software integrated with central data warehouse
  • C. Workflow and data capture technology
  • D. Data visualization applications.

Answer: A

 

NEW QUESTION 49
Which of the following is the primary purpose of financial statement audit engagements?

  • A. To provide a review of routine financial reports, including analyses of selected accounts for compliance with generally accepted accounting principles.
  • B. To provide an analysis of business process controls in the accounting department, including tests of compliance with internal policies and procedures.
  • C. To evaluate organizational and departmental structures, including assessments of process flows related to financial matters.
  • D. To assess the efficiency and effectiveness of the accounting department.

Answer: A

 

NEW QUESTION 50
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