Certified Internal Auditor Internal Audit Standards & Ethics 3

Question 1

An external assessment of the internal audit activity must be conducted at least once every:

Accepted Answer

Five years

Answer

Standard 1312 requires external assessments to be conducted at least once every five years by a qualified, independent assessor or assessment team.

Question 2

The IIA Code of Ethics rule on 'Confidentiality' prohibits internal auditors from:

Accepted Answer

Disclosing information without appropriate authority unless legally obligated

Answer

The Confidentiality rule prohibits auditors from disclosing information without appropriate authority unless there is a legal or professional obligation to do so.

Question 3

Standard 2050 requires the CAE to share information and coordinate activities with other internal and external providers of assurance to:

Accepted Answer

Ensure adequate coverage and minimize duplication

Answer

Standard 2050 aims to ensure adequate coverage of risk areas and minimize duplication of effort among assurance providers.

Question 4

Which scenario represents a violation of the IIA's principle of 'Integrity'?

Accepted Answer

Omitting an unfavorable finding from a report to avoid conflict

Answer

Integrity requires auditors to be honest and not suppress findings; omitting an unfavorable finding directly violates this principle.

Question 5

When the CAE determines that the internal audit activity has been impaired due to a scope limitation, the Standards require the CAE to:

Accepted Answer

Communicate the impairment to senior management and the board

Answer

Standard 1130.A1 requires the CAE to communicate independence or objectivity impairments to senior management and the board.

Certified Internal Auditor Practice Test

Certified Internal Auditor Practice Test

Certified Internal Auditor Internal Audit Standards & Ethics 3