Certified Internal Auditor Professional Standards & Competencies 3

Question 1

The IIA's International Professional Practices Framework (IPPF) categorizes its guidance into mandatory and recommended. Which element is MANDATORY?

Accepted Answer

The Code of Ethics and Standards

Answer

The Core (Code of Ethics and International Standards for the Professional Practice of Internal Auditing) constitutes the only mandatory guidance in the IPPF.

Question 2

An internal auditor who lacks expertise in a specialized area needed for an engagement should:

Accepted Answer

Obtain competency through training, use a specialist, or outsource that portion

Answer

Standard 1210 allows auditors to address competency gaps by seeking appropriate training, engaging a qualified internal or external specialist, or outsourcing the work.

Question 3

When the CAE concludes that the internal audit function has conformed with the IIA Standards after completing a QAIP, this conformance may be communicated to stakeholders as:

Accepted Answer

Conforms with the International Standards for the Professional Practice of Internal Auditing

Answer

Standard 1322 permits the CAE to state that the internal audit function 'conforms with the International Standards for the Professional Practice of Internal Auditing' only when supported by QAIP results.

Question 4

Which scenario represents a threat to an internal auditor's OBJECTIVITY rather than organizational independence?

Accepted Answer

An auditor having recently transferred from the accounts payable department being audited

Answer

An auditor who recently worked in the area being audited faces an objectivity (individual bias) threat, while reporting structures and governance gaps affect organizational independence.

Question 5

The IIA's Code of Ethics applies to which individuals?

Accepted Answer

All individuals and entities that provide internal audit services, including IIA members and CIA candidates

Answer

The Code of Ethics applies to IIA members, individuals holding IIA certifications, and those applying for certifications—essentially all who provide internal audit services under the IIA umbrella.

Certified Internal Auditor Practice Test

Certified Internal Auditor Practice Test

Certified Internal Auditor Professional Standards & Competencies 3