An internal auditor has some suspicion of, but no information about, potential misstatement of financial statements. The internal auditor has failed to exercise due professional care if (s)he

In which of the following instances does the internal auditor violate The IIA's Code of Ethics in regard to confidentiality? I. As a witness in court, the internal auditor reveals facts discovered during a fraud investigation that implicate an organization's vice president and family members in a fraud against the organization. II. The internal auditor, while researching a supplier's quarterly reports, decides to purchase shares of the supplier's stock. III. In an interim report to the audit committee, the internal auditor describes discoveries not related to the audit's objectives that indicate a need to investigate possible criminal acts committed by someone who is friends with an organization member but otherwise has no connection to the organization. IV. In the midst of an audit interview with the internal auditor, a client staff member breaks down and begins discussing personal problems, including plans to declare personal bankruptcy. No one in the staff member's family knows about these problems and plans. The internal auditor sends an anonymous warning to the staff member's spouse.

A CIA, working as the director of purchasing, signs a contract to procure a large order from the supplier with the best price, quality, and performance. Shortly after signing the contract, the supplier presents the CIA with a gift of significant monetary value. Which of the following statements regarding the acceptance of the gift is correct?

An internal auditor reports directly to the board of directors. The auditor discovered a material cash shortage. When questioned, the person responsible explained that the cash was used to cover sizable medical expenses for a child and agreed to replace the funds. Because of the corrective action, the internal auditor did not inform management. In this instance, the auditor

Mana IPPF di bawah ini yang "mandatory" bagi aktivitas audit internal. I. The Code of Ethics II. Atribute Standard. III. Performance Standard. IV. Implementation Guidance

A chief audit executive (CAE) for a small internal audit department received a request from management to perform an audit of an extremely complex area in which the CAE and the department have no expertise. The nature of the audit engagement is within the scope of internal audit activities. Management has expressed a desire to have the engagement conducted in the very near future because of the high level of risk involved. Which of the following responses by the CAE would be in violation of the Standards?

The Core Principles for the Professional Practice of Internal Auditing include all of the following except:

Which of the following activities undertaken by the internal auditor might be in conflict with the standard of independence?

Internal audit activities may involve which of the following?

Which Standards apply to organizations and individuals performing specific types of internal auditing services?

Due professional care implies reasonable care and competence, not infallibility or extraordinary performance. Thus,which of the following is unnecessary?

What is the most accurate term for the procedures used by the board to oversee activities performed to achieve organizational objectives?

What is residual risk?

The term “risk” is best defined as the possibility that

The authority of the internal audit activity is limited to that granted by

An internal auditor’s objectivity could be compromised in all of the following situations except

Risk management is

Risk management is the responsibility of management. The role of the internal audit activity in the risk management process may include which of the following? I. Monitoring activities. II. Evaluating the risk management process as part of the engagement plan. III. Participation on oversight committees, monitoring of activities, and status reporting. IV. Managing and coordinating the process.

That companies must comply with many laws and regulations including company law, tax law and environmental protection regulations requires what category of internal control objectives?

Which of the following is considered a control environment factor by the COSO definition of internal control?

Avoiding, accepting, reducing and sharing are components of ___ in Enterprise Risk Management?

Who has primary responsibility for overseeing the establishment, implementation, and evaluation of risk management and controls?

Which of the following risks is not greater in an electronic funds transfer (EFT) environment than in a manual system using paper transactions?

During an engagement to evaluate the organization’s accounts payable function, an internal auditor plans to confirm balances with suppliers. What is the source of authority for such contacts with units outside the organization?