Certified Internal Auditor Internal Audit Standards & Ethics 2

Question 1

According to the IIA Standards, which element is NOT part of the mandatory guidance framework?

Accepted Answer

Practice Guides

Answer

Practice Guides are recommended guidance, not mandatory; mandatory guidance includes Core Principles, Standards, and the Code of Ethics.

Question 2

The IIA Code of Ethics principle of 'Objectivity' requires internal auditors to:

Accepted Answer

Avoid situations that impair or appear to impair unbiased assessment

Answer

Objectivity requires auditors to avoid situations that impair or appear to impair unbiased assessment, ensuring balanced judgment.

Question 3

Standard 1111 (Direct Interaction with the Board) requires the CAE to:

Accepted Answer

Communicate and interact directly with the board

Answer

Standard 1111 requires the CAE to communicate and interact directly with the board to support independence and governance.

Question 4

An internal auditor discovers a control weakness outside the current engagement's scope. Under the Standards, the auditor should:

Accepted Answer

Document it and communicate it to appropriate management

Answer

Standard 2600 requires auditors to communicate observations noted outside the engagement scope to appropriate levels of management.

Question 5

Which type of assurance engagement involves the internal audit activity providing an opinion on the reliability of information provided by another party?

Accepted Answer

Assurance engagement

Answer

An assurance engagement is an objective examination of evidence to provide an independent opinion or conclusion about an entity, operation, function, process, system, or other subject matter.

Certified Internal Auditor Practice Test

Certified Internal Auditor Practice Test

Certified Internal Auditor Internal Audit Standards & Ethics 2