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
An external assessment of the internal audit activity must be conducted at least once every:
Answer: Five years
Standard 1312 requires external assessments to be conducted at least once every five years by a qualified, independent assessor or assessment team.
The IIA Code of Ethics rule on 'Confidentiality' prohibits internal auditors from:
Answer: Disclosing information without appropriate authority unless legally obligated
The Confidentiality rule prohibits auditors from disclosing information without appropriate authority unless there is a legal or professional obligation to do so.
Standard 2050 requires the CAE to share information and coordinate activities with other internal and external providers of assurance to:
Answer: Ensure adequate coverage and minimize duplication
Standard 2050 aims to ensure adequate coverage of risk areas and minimize duplication of effort among assurance providers.
Which scenario represents a violation of the IIA's principle of 'Integrity'?
Answer: Omitting an unfavorable finding from a report to avoid conflict
Integrity requires auditors to be honest and not suppress findings; omitting an unfavorable finding directly violates this principle.
When the CAE determines that the internal audit activity has been impaired due to a scope limitation, the Standards require the CAE to:
Answer: Communicate the impairment to senior management and the board
Standard 1130.A1 requires the CAE to communicate independence or objectivity impairments to senior management and the board.
The International Standards for the Professional Practice of Internal Auditing are organized into which two main categories?
Answer: Attribute and Performance Standards
The Standards are organized into Attribute Standards (1000 series), which describe characteristics of the audit activity, and Performance Standards (2000 series), which describe the nature of audit work.
Standard 2340 requires that engagement working papers be:
Answer: Retained according to the organization's retention policies and applicable regulations
Standard 2340 requires the CAE to develop and maintain record retention policies consistent with organizational guidelines and applicable regulations.