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QAIP

Authored by Iram Malik

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University

Used 5+ times

QAIP
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27 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Ordinarily, those conducting Internal QAIP assessments should report to

CAE
Board
Audit Committee
Senior Mgt

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The most important component of quality control is:

Ensure goods & services conform to the design specs
determining appropriate timing of inspections
satisfying upper management
conforming to COSO

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The QAIP team will likely examine which of following to evaluate quality of engagement planning & documentation for individual engagements

Long-range engagement work schedule
Project assignment documentation
weekly status reports
written engagement work programs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A QA program of IA dept provides reasonable assurance that audit work conforms with applicable standards. Which of the following activities are designed to provide feedback on effectiveness of an audit dept :

I - Proper Supervision

II - Proper Training

III - Internal Assessments

IV - External Assessments

I, III, IV
I, II, III, IV
I, II, III
II, III, IV

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

QAIP report should be addressed to all members of the IA activity

True

False

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Periodic external assessments of IA activity's QAIP should be undertaken. On completion of assessment, a formal report should be issued expressing an opinion as to them:

Conformance with IA activity's charter
IA activity's compliance with IPPF
IA activity's compliance with the standards
IA activity's coverage of GRC

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of following is the best way to determine if IA activity's goals are being met?

By developing & monitoring KPIs
Through QAIP internal assessments
Periodic review by Audit Committee on IA's quality
Through external assessment every 3 years

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