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CIA Exam - Subunit 2.
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CIA Exam - Subunit 2.
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CIA Exam - Subunit 2* Does due professional care imply infallibility? - ANS-NO
5 components of the QAIP:
1. __________ assessments
2. _________ assessments
3. Communication of QAIP __________.
4. Proper use of ____________ statement.
5. ___________ of nonconformance. - ANS-internal
external
results
conformance
disclosure
A direct functional reporting line ensures that the CAE has ___________ access to the
board, typically highest level of governance in the organization. - ANS-unrestricted
Acceptable vs unacceptable reporting lines for the purposes of achieving independence
and objectivity for the internal audit function. - ANS-
AN internal auditor has come suspicion of, but no information about, potential
misstatement of financial statements. The internal auditor fails to exercise due
professional care by
a. identifying potential ways in which a misstatement could occur and ranking the items
for investigation
b. information the engagement manager of the suspicions and asking for advice on how
to proceed.
c. not testing for possible misstatements because the engagement work program had
already been approved by engagement management.
d. Expanding the engagement work program, without the engagement client's approval,
to address the highest ranked ways in which a misstatement may have occurred. -
ANS-C
An internal auditor must exercise due professional care in performing engagements.
Due professional care includes
a. establishing direct communication between the chief audit executive and the board.
, b. evaluating established operating standards and determining whether those standards
are adequate.
c. accumulating sufficient information so that the internal auditor can give absolute
assurance that irregularities do not exist.
d. establishing suitable criteria of education and experience for filling internal auditing
positions. - ANS-B
Attribute standard 1230:
Internal auditor must enhance their knowledge, skills and other competencies through
continuing ____________ ____________. - ANS-professional development
attribute standard 1300: quality assurance, improvement program
The CAE must develop and maintain a quality assurance and improvement program
that covers ____________ of internal audit activity. - ANS-all aspects
attribute standard 1320:
reporting requirements on the QAIP:
The CAE must communicate the results of a quality assurance and improvement
program to senior management and ______________. - ANS-the board
Attribute standard 1321:
Indicates that the CAE may state that the activity conforms with the standards only if the
_________ program supports this statement - ANS-QAIP
CAE has a direct functional line to __________. - ANS-the board
Certified internal auditors (CIAs) demonstrate their continuing professional development
by completing _________________________________________. - ANS-continuing
professional education (CPE)
Conformance with the attribute standard can be shown with:
- the internal audit charter and the audit committee charter which would show the
committee's _________ ________.
- The CAE's __________ _________ and performance evaluation.
- Internal audit policy manual that addresses policies like like independence and board
communication requirements. - ANS-oversight duties;
job description;
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