INTERNAL AUDIT & ETHICS

Which of the following is NOT one of the principles set forth in the Institute of Internal Auditors Code of Ethics?

• Integrity

• Objectivity

• Consistency

• Competency

According to the Institute of Internal Auditors Code of Ethics, what should an internal auditor do if he or she has a previous relationship with a client, or the client offers to buy him or her coffee or lunch?

• Report this information to the IIA

• Report this information to their state attorney general

• Report this information to the chief audit executive

• Report this information to his or her company's CEO

According to IIA guidance, independence of the internal audit activity is achieved through which of the following?

• Staffing and supervision.

• Continuing professional development and due professional care.

• Human relations and communications.

• Organizational status and objectivity.

What are the three component of International Standards for the Professional Practice of Internal Auditing (ISPPIA)

• Attribute Standards ,Performance Standards ,Implementation Standards

• Organizational Independence,Proficiency ,Internal Assessments

• Planning,Resource Management,Governance

These standards address the characteristic of the internal audit activity and the individuals performing audit activities

• Attribute

• Performance

• Implementattion

These standards describe the nature of internal audit services and provide quality criteria against which the performance of these services can be measured

• Attribute

• Performance

• Implementation

Internal auditor should be independent of the activities they audit, work should be carried out freely, objectively, impartially an unbiased judgments

• TRUE

• FALSE

If internal audit activities are not performed independently and objectively, then not only their jobs will not become an added value to the organisation, but their activities will subsequently discredit by others function and departments.

• TRUE

• FALSE

Chief Audit Executive report functionally to the management of the company to ensure objectivity in the planning and execution of internal audit work.

• TRUE

• FALSE