CIA Quick Practice Questions – 5 Questions – Set 4

An internal auditor is performing an engagement over financial management processes. Which of the following is not a proper approaches to achieve this?

From the COSO ERM fan diagram, which of the following is not a “core internal audit role”?

The internal audit activity receives assurance from a number of internal assurance providers. The internal auditor performing an assurance engagement should do which of the following to evaluate the reliability of the internal assurance providers?

I. Discuss with the personnel of the assurance providers to ensure that they did not recently have responsibilities in the areas in which they now provide assurance.
II. Review whether the assurance providers might face undue pressure from management to modify their opinions on risks or controls.
III. Assess the scope of the work of the assurance providers to ensure that they provide assurance over the risks they claim to provide assurance over.
IV. Determine whether assurance providers have sufficient experience and expertise to provide assurance over the area under review.

Which of the following would not be part of actions by a board to help internal audit achieve organizational independence?

Which of the following best risk metrics fits the following: if a flood hits the main office building, operations will be affected during an estimated 5 days.