June 2020 Internal Auditor Quiz

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  • 1/15 Questions

    In Building a Great Team, author Nancy Haig says great internal audit teams:

    • Embrace diversity.
    • Have the right skills.
    • Are supportive of team members.
    • All of the above.
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Internal Auditor is helping you earn CPE credits to support your IIA certifications. Each bi-monthly quiz is worth one (1) CPE credit with a score of 80 percent or higher. Internal Auditor quizzes are NOT NASBA certified.

June 2020 Internal Auditor Quiz - Quiz

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  • 2. 

    In Building a Great Team, author Nancy Haig says when mistakes happen, CAEs should be certain team members:

    • Acknowledge and communicate the error.

    • Offer to fix the mistake.

    • Go to the CAE for advice.

    • Investigate who is at fault.

    Correct Answer
    A. Acknowledge and communicate the error.
  • 3. 

    According to “Data Protection in a GDPR World,” what exposure factor should internal auditors consider when performing a data protection risk assessment?

    • The type of information being processed.

    • The sensitivity of the data.

    • The volume of data being processed.

    • All of the above.

    • Option 5

    Correct Answer
    A. All of the above.
  • 4. 

    According to “Adding Value 2.0,” where internal audit has fallen short of certain key performance indicators, it should understand the underlying value proposition.

    • True

    • False

    Correct Answer
    A. True
  • 5. 

    The authors of “Data Protection in a GDPR World” say that, as part of its data protection efforts, the internal audit team can help form a review body tasked with evaluating new initiatives and IT systems.

    • True

    • False

    Correct Answer
    A. True
  • 6. 

    According to an IBM survey cited in “Navigating the Crisis,” what percentage of U.S. adults say they would like to continue working remotely, at least occasionally, post-COVID-19?

    • Fewer than 35%.

    • 50%.

    • More than 75%.

    • 85%.

    Correct Answer
    A. More than 75%.
  • 7. 

    In Building a Great Team, author Nancy Haig says having a QAIP in place sends the message to clients that:

    • The audit function is being audited.

    • The audit function knows what it’s doing.

    • The audit function cares about how its work is performed.

    • None of the above.

    Correct Answer
    A. The audit function cares about how its work is performed.
  • 8. 

    In Neil Hodge's "Working in Concert," Bethmara Kessler says that audit committees should ask for internal audit's opinion on the external auditor's work. 

    • True

    • False

    Correct Answer
    A. True
  • 9. 

    According to “Adding Value 2.0” by Nicodemus Tan, how should internal audit set its goal posts to provide and communicate its value?

    • Catalog the quantity of work completed.

    • Use a balanced scorecard to measure performance.

    • Use years of experience or academic qualifications to demonstrate the quality of internal auditors on staff.

    • Identify what key stakeholders such as the audit committee and management deem valuable.

    Correct Answer
    A. Identify what key stakeholders such as the audit committee and management deem valuable.
  • 10. 

    What does consultant Alexander Larsen say is critical to organizational survival and an area in which internal audit has a key role to play?

    • Good risk management.

    • Effective governance.

    • Clear communication.

    • Cybersecurity.

    Correct Answer
    A. Good risk management.
  • 11. 

    As referenced in “Data Protection in a GDPR World,” what proportion of nations does the United Nations Conference on Trade and Development say lack laws to protect their citizens’ online data and privacy?

    • One-fourth.

    • One-third.

    • One-half.

    • Three-fourths.

    Correct Answer
    A. One-third.
  • 12. 

    In “Navigating the Crisis,” what two key themes does CAE Moses Chavi say have emerged for internal auditors and management from the COVID-19 crisis?

    • Flexibility and resilience.

    • Working capital management and talent management.

    • Remote work and operational efficiency.

    • None of the above.

    Correct Answer
    A. Working capital management and talent management.
  • 13. 

    1. According to “Adding Value 2.0,” ____ is an example of an acknowledgement-based metric:

    • Level of audit function in the Internal Audit Maturity Model.

    • Number of processes audited.

    • Process improvement following an internal audit.

    • Quality assessment score of the internal audit function.

    Correct Answer
    A. Process improvement following an internal audit.
  • 14. 

    According to Bonnie Tse's "Transforming Corporate Card Audits," optical character recognition falls under which technology area?

    • Cloud storage.

    • Data visualization. 

    • Automation.

    • All of the above.

    Correct Answer
    A. Automation.
  • 15. 

    In Bonnie Tse's "Transforming Corporate Card Audits," the cost of technologies such as artificial intelligence, robotic process automation, and machine learning is considered an opportunity. 

    • True

    • False

    Correct Answer
    A. False

Quiz Review Timeline (Updated): +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 15, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 05, 2020
    Quiz Created by
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