Professional Standards & Competencies Flashcards
7 cards from real Certified Internal Auditor practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Professional Standards & Competencies flashcards as text
The IIA Standards state that internal auditors must possess knowledge of 'key information technology risks and controls.' This requirement falls under which standard?
Answer: Standard 1210 – Proficiency
Standard 1210 requires internal auditors to have sufficient knowledge of key IT risks and controls to perform their assigned responsibilities, even if they are not IT specialists.
When results of a QAIP indicate that the internal audit function does NOT conform with the IIA Standards, the CAE is required to:
Answer: Disclose the non-conformance and its impact to senior management and the board
Standard 1322 requires the CAE to disclose non-conformances and their impacts to senior management and the board, allowing governance stakeholders to take remedial action.
A senior internal auditor is asked by the CEO to omit an unfavorable finding from the audit report to avoid embarrassing a key executive. The auditor should:
Answer: Include the finding regardless of management pressure, as integrity requires honest reporting
The integrity principle of the Code of Ethics requires auditors to report truthfully; suppressing findings at management's request violates both integrity and the reporting standards.
In CIA exam context, 'risk-based internal auditing' means that audit resources are allocated based on:
Answer: A systematic evaluation of the likelihood and impact of risks across the organization
Risk-based auditing directs resources toward areas with the highest likelihood and potential impact of risk, ensuring the audit plan addresses the organization's most significant exposures.
Which of the following actions by a CAE would BEST demonstrate compliance with Standard 1111 (Direct Interaction with the Board)?
Answer: Meeting privately with the audit committee at least quarterly without management present
Standard 1111 requires the CAE to communicate and interact directly with the board; regular private sessions (executive sessions) with the audit committee ensure unfiltered communication.
The IIA's definition of internal auditing emphasizes that the function is designed to:
Answer: Add value and improve an organization's operations through assurance and consulting
The IIA defines internal auditing as an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
An internal auditor who accepts a significant gift from a vendor whose contract the auditor is currently reviewing violates which Code of Ethics rule?
Answer: Both integrity and objectivity rules
Accepting a gift from an auditee violates both integrity (discrediting behavior) and objectivity (creating a personal interest that impairs impartial assessment).