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Last Updated: Jun 09, 2026
No. of Questions: 100 Questions & Answers with Testing Engine
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1. To be organizationally independent, the chief audit executive should administratively report to which of the following?
A) The chief executive officer.
B) The audit committee.
C) The board of directors.
2. Which of the following describes how the internal audit activity can add the greatest value by assisting management with internal controls?
A) Internal auditors should evaluate the effectiveness and efficiency of internal controls.
B) Internal auditors should monitor how internal controls are functioning.
C) Internal auditors should assist in designing strong controls.
3. During a procurement process consulting engagement, the internal auditors reviewed contracts for the hospital's supply of medicine. Which of the following would the internal auditors most likely recommend to improve the effectiveness of the procurement process?
A) The procurement process must be comprehensively documented.
B) The procurement process should begin with clearly specified needs.
C) Only qualified procurement professionals should manage the procurement process.
4. Which of the following analytical procedures would be most effective for an internal auditor to examine changes in performance over time?
A) Ratio analysis
B) Analysis of common size financial statements
C) Trend analysis
5. Which of the following elements are typically included in an engagement work program?
A) Opinions and final engagement communications
B) Fieldwork, analytical testing, and resources
C) Planning, objectives, and preliminary risk assessments
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: C |
Cornell
Evan
Hobart
King
Milo
Hyman
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