June 2020 Internal Auditor Quiz
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.
- 1.
In Building a Great Team, author Nancy Haig says great internal audit teams:
- A.
Embrace diversity.
- B.
Have the right skills.
- C.
Are supportive of team members.
- D.
All of the above.
Correct Answer
D. All of the above. -
- 2.
In Building a Great Team, author Nancy Haig says having a QAIP in place sends the message to clients that:
- A.
The audit function is being audited.
- B.
The audit function knows what it’s doing.
- C.
The audit function cares about how its work is performed.
- D.
None of the above.
Correct Answer
C. The audit function cares about how its work is performed. -
- 3.
In Building a Great Team, author Nancy Haig says when mistakes happen, CAEs should be certain team members:
- A.
Acknowledge and communicate the error.
- B.
Offer to fix the mistake.
- C.
Go to the CAE for advice.
- D.
Investigate who is at fault.
Correct Answer
A. Acknowledge and communicate the error. -
- 4.
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?
- A.
Flexibility and resilience.
- B.
Working capital management and talent management.
- C.
Remote work and operational efficiency.
- D.
None of the above.
Correct Answer
B. Working capital management and talent management. -
- 5.
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?
- A.
Fewer than 35%.
- B.
50%.
- C.
More than 75%.
- D.
85%.
Correct Answer
C. More than 75%. -
- 6.
What does consultant Alexander Larsen say is critical to organizational survival and an area in which internal audit has a key role to play?
- A.
Good risk management.
- B.
Effective governance.
- C.
Clear communication.
- D.
Cybersecurity.
Correct Answer
A. Good risk management. -
- 7.
According to “Data Protection in a GDPR World,” what exposure factor should internal auditors consider when performing a data protection risk assessment?
- A.
The type of information being processed.
- B.
The sensitivity of the data.
- C.
The volume of data being processed.
- D.
All of the above.
- E.
Option 5
Correct Answer
D. All of the above. -
- 8.
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?
- A.
One-fourth.
- B.
One-third.
- C.
One-half.
- D.
Three-fourths.
Correct Answer
B. One-third. -
- 9.
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.
- A.
True
- B.
False
Correct Answer
A. True -
- 10.
According to “Adding Value 2.0” by Nicodemus Tan, how should internal audit set its goal posts to provide and communicate its value?
- A.
Catalog the quantity of work completed.
- B.
Use a balanced scorecard to measure performance.
- C.
Use years of experience or academic qualifications to demonstrate the quality of internal auditors on staff.
- D.
Identify what key stakeholders such as the audit committee and management deem valuable.
Correct Answer
D. Identify what key stakeholders such as the audit committee and management deem valuable. -
- 11.
- According to “Adding Value 2.0,” ____ is an example of an acknowledgement-based metric:
- A.
Level of audit function in the Internal Audit Maturity Model.
- B.
Number of processes audited.
- C.
Process improvement following an internal audit.
- D.
Quality assessment score of the internal audit function.
Correct Answer
C. Process improvement following an internal audit. - 12.
According to “Adding Value 2.0,” where internal audit has fallen short of certain key performance indicators, it should understand the underlying value proposition.
- A.
True
- B.
False
Correct Answer
A. True -
- 13.
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.
- A.
True
- B.
False
Correct Answer
B. False -
- 14.
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.
- A.
True
- B.
False
Correct Answer
A. True -
- 15.
According to Bonnie Tse's "Transforming Corporate Card Audits," optical character recognition falls under which technology area?
- A.
Cloud storage.
- B.
Data visualization.
- C.
Automation.
- D.
All of the above.
Correct Answer
C. Automation. -
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Mar 15, 2022Quiz Edited by
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Jun 05, 2020Quiz Created by
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