QAIP

Ordinarily, those conducting Internal QAIP assessments should report to

• CAE
• Board
• Audit Committee
• Senior Mgt

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

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

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

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

• True

• False

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

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

Which standards expands upon the other categories of standards

• Performance
• Attribute
• Implementation
• All choices are correct

Auditors may report that their activities conform with the standards. They may use this statement only if

• Annual external assessment of audit activity supports it
• Supported by results of QA programs
• CAE monitors & supervises all activities of dept
• External assessments are done by external auditors

Following external assessments of IA activity, who will be responsible to communicates results to AC

• Senior team members of IA activity
• QAIP manager
• CAE
• External Assessor