Q457. Which of the following is true regarding risk analysis?

Q458. Which of the following is least likely to enhance the independence of an internal audit activity?

Q459. A chief audit executive (CAE) recruited a few new internal auditors to reduce the resource gaps identified in this year’s internal audit plan. One of the new recruits has several years of experience with the organization.
Ten months ago. she served as a senior supervisor in the finance department. However, for the past 10 months, she has been helping the organization with implementing a new IT system. What approach should the CAE take for the upcoming financial statement controls audit?

Q460. An accounts payable clerk has recently transferred into the internal audit activity and has been assigned to an engagement related to accounts payable processes for which he was previously responsible. Which of the following is the best action for the new internal auditor to take?

Q461. A chief audit executive has reported to the board that the internal audit activity is lacking financial accounting knowledge for specific audit projects. Upon approval from the board which of the following hiring approaches is best in this situation?

Q462. Which of the following statements is correct with regard to risk management?

Q463. Which of the following statements correctly describes how workpaper standards can improve the efficiency of internal audit operations?

Q464. Which of the following factors would most influence an organization’s decision when adopting a risk management framework?

Q465. A major difference between enterprise risk management and traditional risk management lies in the narrow focus of traditional risk management on:
I. Property and liability risks.
II. Risks with insurance solutions.
III. Risks impacting organizational objectives.

Q466. Which of the following is a role internal auditors should undertake related to risk management?

Q467. Which of the following are typical management control activities?

Q468. Which statement most accurately describes how criteria are established for use by internal auditors in determining whether goals and objectives have been accomplished?

Q469. Which of the following activities best ensures that internal auditors grow professionally in alignment with current industry trends to meet the expectations of primary stakeholders?

Q470. A code of business conduct provides?

Q471. The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?

Q472. According to IIA guidance, which of the following actions best demonstrates due professional care by an internal auditor when she discovers a number of fraud-related red flags during an audit engagement?

Q473. An internal audit activity uses a rotational program to recruit high-performing staff members from other parts of the organization One of these individuals is nearing the end of her four-year internal audit rotation The chief audit executive assigned her to an assurance engagement in the business area she will be going into when she leaves the internal audit activity Which of the following statements is true regarding this scenario?

Q474. An internal auditor prepared a workpaper that consisted of a list of employee names and identification numbers as well as the following statement:
* “A statistical sample of 40 employee personnel files was selected to verify that they contain all documents required by company policy 501 (copy attached). No exceptions were noted.”
* The auditor did not place any audit verification symbols on this workpaper.
Which of the following changes would most improve the auditor’s workpaper?