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A code of ethics within the internal auditing profession is necessary in order to:

A. Reduce the likelihood that members of the profession will be sued for substandard work.

B. Ensure that all members of the profession perform at approximately the same level of competence.

C. Provide guidance to internal auditors in their service to others.

D. Require members of the profession to exhibit loyalty in all matters pertaining to the affairs of their organization.

An internal auditor has completed an audit of an organization's activities and is ready to issue a report. However, the client disagrees with the internal auditor's conclusions. The auditor should:

A. Withhold the issuance of the audit report until agreement on the issues is obtained.

B. Issue the audit report and state both the auditor and client positions and the reasons for the disagreement.

C. Issue the audit report and omit the client's conclusion as it is not the opinion of the internal auditor.

D. Perform additional work, with the client's concurrence, to resolve the areas of disagreement and delay the issuance of the report until agreement is reached.

Which of the following is an effective way for an internal auditor to improve communications with the client during a contentious audit?

A. Encourage the client to participate as a partner in the decision-making process to determine the changes that need to be made.

B. Clearly explain to the client the role of the internal audit activity in the change process.

C. Obtain the support of the board of directors for proposed changes before discussing the changes with operating management.

D. Speak privately with key client personnel immediately after proposed changes are announced to address their concerns.

According to the International Professional Practices Framework, the responsibility for establishing and maintaining a system to monitor the disposition of results communicated to management falls upon:

A. Compliance officer.

B. Chief audit executive.

C. Senior management.

D. Risk manager.

The chief audit executive (CAE) of a large retail operation believes that senior management has accepted a level of risk that exceeds the organization's current risk tolerance with respect to a major expansion. The CAE plans to meet with senior management to discuss these concerns. According to IIA guidance, which of the following would be an appropriate course of action in preparation for this meeting?

1.

Understand management's basis for the decision.

2.

Advise the board of the concern and upcoming meeting.

3.

Ascertain which members of management have accepted the risk.

4.

Determine if management has the authority to accept the risk.

A. 1 and 2 only

B. 1 and 4 only

C. 2 and 3 only

D. 3 and 4 only