According to IIA guidance, which of the following strategies would be the least effective in helping a chief audit executive build a stronger relationship with the board?
Reviewing internal audit report drafts with clients is:
1. Required according to the Standards.
2. A form of courtesy.
3. Ethically mandated.
4. A form of validation.
Which of the following types of internal audit consulting engagements is an example of a facilitation service?
1. Conducting control self-assessment workshops.
2. Participating on standing committees.
3. Reviewing regulatory compliance.
4. Benchmarking.
5. Estimating savings from outsourcing processes.
An auditor decides to perform an inventory turnover analysis for both raw materials inventory and finished goods inventory. The analysis would be potentially useful in:
I. Identifying products for which management has not been attuned to changes in market demand.
II. Identifying potential problems in purchasing activities.
III. Identifying obsolete inventory.
An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. According to IIA guidance, which of the following roles should the CAE not undertake?
