Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large
organization?

• A.The rating conclusions and the impact from results of the external assessment should be explained,
• B.The internal assessment results should be discussed once every five years,
• C.The results of the external assessment should be discussed every seven years,
• D.The qualifications and independence of the internal assessment team should be discussed

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Which of the following techniques would best assist an internal auditor in evaluating the efficiency of a wholesale grocery distributor`s process to fill and package orders for shipping?

• A.A Bedford analysis of orders filled to average delivery times.
• B.Decision trees rating actual performance against requirements.
• C.Queuing theory to assess potential bottlenecks in the process.
• D.A program evaluation and review technique chart.

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An internal auditor performed a consulting engagement last year which included assisting with management's design of controls over the procurement function. How should the chief audit executive plan an assurance engagement on the adequacy of the internal control system in the procurement function in the current year?

• A.Outsource the engagement to ensure independence
• B.Harness the auditor's knowledge of the procurement function by assigning the engagement to the same internal auditor
• C.Assign the engagement to another internal auditor on staff
• D.Postpone the engagement to the following year to ensure enough time has passed since the controls were designed

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According to the Standards, which of the following statements best describes the required content of the chief audit executive's (CAE) report to senior management and the board on the internal audit activity (IAA)?

• A.The CAE must report on significant risk exposures, control issues, and governance issues.
• B.The CAE must report on auditors' continuing education activities, staffing changes, and any outsourcing to external parties.
• C.The CAE must report on quality assurance techniques, statistical analysis methods, and other analytical processes used.
• D.The CAE must report on policies, procedures, and best practices of the IAA.

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The largest risks facing an organization should be mitigated by which type of controls?

• A.Transaction-level
• B.Process-level
• C.Entity-level
• D.Activity-level

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