(IIA) Flashcards
7 cards from real Certified Internal Auditor practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 (IIA) flashcards as text
Computer-assisted audit techniques (CAATs) are PRIMARILY used to:
Answer: Test large volumes of data efficiently and identify anomalies
CAATs allow auditors to analyze entire populations of data, perform calculations, and detect exceptions that would be impractical to identify manually.
Which of the following BEST characterizes the concept of 'organizational independence' for internal audit?
Answer: The internal audit activity is free from interference in determining its scope and reporting results
Organizational independence means internal audit can determine its own scope, perform work without interference, and communicate results without restriction.
During a fraud investigation, the internal auditor's role is BEST described as:
Answer: Gathering and evaluating evidence to determine whether fraud occurred
Internal auditors gather and objectively evaluate evidence to determine whether fraud has occurred, then report findings to appropriate parties.
An engagement work program should be prepared:
Answer: Before conducting fieldwork, based on preliminary survey results
The work program is developed prior to fieldwork to define the procedures, timing, and responsibilities needed to achieve engagement objectives.
Which of the following is a characteristic of a well-written audit observation (finding)?
Answer: It contains criteria, condition, cause, and effect
A complete audit finding includes the criteria (what should be), condition (what is), cause (why it happened), and effect (the risk/impact).
The IIA's attribute standard on 'proficiency' requires that internal auditors:
Answer: Possess the knowledge, skills, and competencies needed to perform their responsibilities
Proficiency requires that internal auditors possess or obtain the knowledge, skills, and other competencies necessary to fulfill their individual responsibilities.
When internal audit outsources a portion of work to an external service provider, the CAE is responsible for:
Answer: Maintaining overall accountability for the quality and accuracy of the outsourced work
The CAE retains full responsibility for the quality and integrity of all internal audit work, including work performed by external service providers.