Certified Internal Auditor - Part 1, The Internal Audit Activity's Role in Governance, Risk, and Control: IIA-CIA-PART1

An objective for an audit of a medical research corporation is to evaluate management's controls to ensure that timely reports are submitted to sponsors of contracted research projects. In planning the audit to achieve this objective, the auditor should begin by:

A. Reviewing policies and procedures.

B. Interviewing a group of research managers.

C. Observing report preparation in a number of laboratories.

D. Sending a questionnaire to a sample of research sponsors.

According to the Standards, which of the following is not a consideration when exercising due professional care for an assurance engagement?

A. The relative complexity, materiality, or significance of matters to which assurance procedures are applied.

B. The extent of assurance services necessary to ensure that all risks are identified.

C. The cost of providing the assurance services in relation to potential benefits.

D. The probability of significant errors, irregularities or instances of noncompliance.

According to IIA guidance, which of the following best describes processes and tools typically used in ongoing internal assessments?

A. Benchmarking of the internal audit activity's practices and performance.

B. Report of internal assessment results, response plans, and outcomes.

C. Analysis of performance metrics such as cycle times.

D. Self-assessments and surveys of stakeholder groups.