A methodology that can be used by managers and internal auditors to assess the
adequacy of an organization’s risk management and control processes is called:
A.
Control self-assessment
B.
Control certifications
C.
Managerial control
D.
Risk control
Control self-assessment
Which of the following is NOT the purpose of an organization that uses self-assessment to
have a formal, documented process that allows management and work teams to participate
in a structured manner?
A.
Identifying risk factors and significant exposures.
B.
Accessing the control processes that do not mitigate or manage those risks.
C.
Developing action plans to reduce risks to acceptable levels.
D.
Determining the likelihood of, or assisting in, the achievement of business objectives
Accessing the control processes that do not mitigate or manage those risks.
The purpose of Control self-assessment is:
A.
to make analysis through interviews
B.
to find report issued by auditors
C.
through which internal control effectiveness is examined and assessed
D.
to focus on policies and procedures that are strategy compliance
through which internal control effectiveness is examined and assessed
Which of the following is Correct?
A.
Internal auditing is an independent, objective assurance and consulting activity designed
to add value and improve an organization’s operations.
B.
Take guidelines to analyst conflicts of internal auditing.
C.
Required orientation and continuing education regarding audits.
D.
Assets are safeguards for internal audits.
Internal auditing is an independent, objective assurance and consulting activity designed
to add value and improve an organization’s operations.
Principles relevant to profession of internal auditing and rules of conduct that describe their
behaviors are the components of:
A.
Auditing Reviews
B.
Internal Auditing Profession
C.
Auditing Standards
D.
Institute of Internal Auditors
Institute of Internal Auditors
Internal auditors have which following four principles to uphold and apply.
A.
Integrity, Objectivity, Control and Confidentiality
B.
Integrity, Objectivity, Confidentiality and Competency
C.
Reliability, Objectivity, Timeliness and Competency
D.
Integrity, Objectivity, Discretion and Expertise
Integrity, Objectivity, Confidentiality and Competency
When internal auditors establishes trust and thus provides the basis for reliance on their
judgment, this refers to:
A.
Veracity
B.
Authenticity
C.
Integrity
D.
Accuracy
Integrity
Competency refers to:
A.
External auditors apply the knowledge, skills and experience needed in the performance
of internal auditing services.
B.
Internal auditors apply the knowledge, skills and experience needed in the performance
of internal auditing services.
C.
Reduce or prevent manufacturing defects
D.
Provide information about the process capability and maturity with standards.
Internal auditors apply the knowledge, skills and experience needed in the performance
of internal auditing services.
Which of the following is NOT the rule of integrity?
A.
Perform duty with honesty and responsibility.
B.
Observe law and make disclosures expected by law.
C.
Knowingly engage in acts that are discreditable to the organization.
D.
Respect to and contribute to the legitimate objectives of the organization.
Knowingly engage in acts that are discreditable to the organization.
To disclose all material facts known to internal auditors that if not disclosed, may distort the
reporting of activities under review, this one of the rules of:
A.
Objectivity
B.
Integrity
C.
Confidentiality
D.
Expert judgment
Objectivity
The entire objectives-risks-controls infrastructures of an organization are subject to greater
monitoring and continuous improvements due to:
A.
Accountability for control
B.
Measuring methodology
C.
Evaluation methodology
D.
Self-assessment methodology
Self-assessment methodology
In traditional approach, evaluating risks and controls were done by auditors and in control
self-assessment approach it is done by work teams.
A.
True
B.
False
True
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