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IIA IIA-CHAL-QISA Exam Syllabus Topics:
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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q125-Q130):
NEW QUESTION # 125
Which of the following is most likely the subject of a periodic report from the chief audit executive to the board?
- A. The internal audit activity's purpose, authority, responsibility, and performance relative to plan.
- B. Management's assertions regarding the system of internal controls.
- C. Oversight of the coordination between the internal audit activity and independent outside auditors
- D. A complete, accurate, and comprehensive account of engagement observations and recommendations.
Answer: A
Explanation:
* Introduction:
* The chief audit executive (CAE) has a crucial role in reporting to the board on various aspects of the internal audit activity (IAA).
* Importance of Reporting:
* Periodic reports from the CAE to the board are essential for ensuring transparency and providing
* oversight on the IAA's performance and alignment with organizational objectives.
* Options Analysis:
* Option A: A complete, accurate, and comprehensive account of engagement observations and recommendations is generally part of the audit reports but not typically the subject of periodic reports from the CAE to the board.
* Option B: Oversight of the coordination between the internal audit activity and independent outside auditors is important but does not comprehensively cover the CAE's reporting responsibilities.
* Option C: The internal audit activity's purpose, authority, responsibility, and performance relative to plan encompass the core aspects of the IAA's alignment with organizational goals, effectiveness, and efficiency, making it the most comprehensive subject of periodic reports.
* Option D: Management's assertions regarding the system of internal controls are often part of audit findings but not the primary subject of CAE reports to the board.
* Conclusion:
* The CAE's periodic reports to the board should cover the IAA's purpose, authority, responsibility, and performance relative to the plan, ensuring that the board is well-informed about the internal audit's alignment with the organization's objectives and its overall performance.
NEW QUESTION # 126
According to Maslow's hierarchy of needs theory, which of the following best describes a strategy where a manager offers an assignment to a subordinate specifically to support his professional growth and future advancement