Internal Audit Standards & Ethics 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 Internal Audit Standards & Ethics flashcards as text
According to the IIA Standards, which element is NOT part of the mandatory guidance framework?
Answer: Practice Guides
Practice Guides are recommended guidance, not mandatory; mandatory guidance includes Core Principles, Standards, and the Code of Ethics.
The IIA Code of Ethics principle of 'Objectivity' requires internal auditors to:
Answer: Avoid situations that impair or appear to impair unbiased assessment
Objectivity requires auditors to avoid situations that impair or appear to impair unbiased assessment, ensuring balanced judgment.
Standard 1111 (Direct Interaction with the Board) requires the CAE to:
Answer: Communicate and interact directly with the board
Standard 1111 requires the CAE to communicate and interact directly with the board to support independence and governance.
An internal auditor discovers a control weakness outside the current engagement's scope. Under the Standards, the auditor should:
Answer: Document it and communicate it to appropriate management
Standard 2600 requires auditors to communicate observations noted outside the engagement scope to appropriate levels of management.
Which type of assurance engagement involves the internal audit activity providing an opinion on the reliability of information provided by another party?
Answer: Assurance engagement
An assurance engagement is an objective examination of evidence to provide an independent opinion or conclusion about an entity, operation, function, process, system, or other subject matter.
Under the IIA Standards, the quality assurance and improvement program (QAIP) must include:
Answer: Ongoing monitoring, periodic self-assessments, and external assessments
Standard 1300 requires the QAIP to include ongoing monitoring, periodic self-assessments, and periodic external assessments.
If an internal auditor lacks the knowledge required to perform an engagement, the Standards require the CAE to:
Answer: Obtain competent advice and assistance
Standard 1210 requires that when the internal audit activity lacks the necessary knowledge or skills, the CAE must obtain competent advice and assistance.