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WorksheetsAE 10 QUIZ 1
Total questions: 13
Worksheet time: 20mins
ISO Stands for?
International Standard Organization
Internal Organization for Standardization
International Organization for Standardization
International Standard for Organizations
The requirements of ISO 9001:2015 depend on which type of organization according to its type or size, or the products and services it provides.
TRUE
FALSE
All categories of risk, their management, including reporting on them are covered in external audit.
TRUE
FALSE
Improvement is fundamental to the purpose of internal auditing
TRUE
FALSE
Internal Auditors report to board and senior management who are within the organizations governance structure.
TRUE
FALSE
Which of following is not an example of risk?
health and safety risks
risks associated with market failure
risks of supplier failure
competitors' reputation
The following are activities of internal audit except?
Evaluating controls and advising the employees
Evaluating risks
Analyzing operations and confirm information
Working with other assurance providers
This type of internal audit evaluate compliance with applicable laws, regulations, policies and procedures.
Environmental
Information Technology
Compliance audit
Operational
This aims to assess the organization’s control mechanisms for their overall efficiency and reliability.
Compliance Audit
Information Technology Audits
Operational Audits
Environmental Audits
This evaluates whether the organization is meeting the metrics set by management in order to achieve the goals and objectives set forth by the Board of Directors.
Operational Audit
Information Technology Audit
Compliance Audit
Performance Audit
During this stage, the internal audit team will define the scope and objectives, review guidance relevant to audit and review the results from previous audits.
Fieldwork
Reporting
Planning
Follow-up
Which of the following is not among the common pitfalls that can derail an Internal Audit?
not reviewing the data
not talking to all clients/stakeholders
subjectivity and independence
scope creep
Enumerate and explain the internal audit procedure.
