A headquarters-based internal auditor has been sent to a major overseas subsidiary to conduct various engagements. Initially, the internal auditor spends time to become familiar with local customs and organization's practices while embarking on the first engagement. Which of the following competencies does the internal auditor exercise?

• A.Persuasion and collaboration.
• B.Communication.
• C.Governance, risk, and control.
• D.Business acumen.

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Which of the following is an example of a risk management avoidance response?

• A.Recalling a product.
• B.Obtaining product insurance.
• C.Exiting a marketplace.
• D.Outsourcing production.

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During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?

• A.Definition of Internal Auditing.
• B.MA Standards.
• C.Internal audit charter.
• D.The IIA's Code of Ethics.

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Which of the following is an example of a risk avoidance strategy?

• A.Hedging against exchange rate variations.
• B.Limiting access to an organization's data center.
• C.Selling a nonstrategic business unit.
• D.Outsourcing a high-risk activity.

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Which segregation of duties would best reduce the risk of payroll fraud?

• A.Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.
• B.Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.
• C.Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.
• D.Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.

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