IIA Exam IIA-CHAL-QISA Topic 3 Question 9 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam

Question #: 9
Topic #: 3

According to IIA guidance, which of the following actions by the chief audit executive would best ensure that internal auditors demonstrate due professional care?

ADeveloping policies and procedures for the internal audit activity

BEnsuring the internal audit activity is not found fallible during audit engagements.

CUndertaking all engagements that management requests of the internal audit activity.

DEnsuring the internal audit activity reports functionally to the board of directors

Show Suggested Answer

Suggested Answer: A

Professional Care: Ensuring that internal auditors demonstrate due professional care involves establishing clear policies and procedures that guide their activities.

Guidance and Standards: These policies and procedures help ensure that the internal audit activity adheres to professional standards and best practices.

Standard Compliance: According to the IIA's Performance Standard 2040 -- Policies and Procedures, the CAE must establish policies and procedures to guide the internal audit activity.

Quality Assurance: Properly developed policies and procedures contribute to the overall quality and effectiveness of the internal audit activity, ensuring that engagements are conducted with due professional care.

IIA Standard 2040 -- Policies and Procedures .

by Remedios at Aug 02, 2024, 04:23 AM

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Annelle

4 months ago

I agree with Viki, having policies and procedures in place shows due professional care.

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Tatum

4 months ago

I believe option D) Ensuring the internal audit activity reports functionally to the board of directors is also important for demonstrating due professional care.

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Viki

5 months ago

I think the best option is A) Developing policies and procedures for the internal audit activity.

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Shaquana

5 months ago

I believe the answer is D) Ensuring the internal audit activity reports functionally to the board of directors. This ensures independence and objectivity.

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Phil

5 months ago

Wow, that's a tough one. Guess the auditors need to be as perfect as the IIA guidance, huh? I wonder if they have a 'Get Out of Jail Free' card for when they mess up.

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Brice

5 months ago

C) Undertaking all engagements that management requests is a recipe for disaster. Internal auditors should use their professional judgment to prioritize and manage the workload.

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Jaime

4 months ago

C) Undertaking all engagements that management requests of the internal audit activity.

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Diane

4 months ago

B) Ensuring the internal audit activity is not found fallible during audit engagements.

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Bernardine

4 months ago

A) Developing policies and procedures for the internal audit activity

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Sabine

5 months ago

I agree with Galen. Developing policies and procedures shows that the chief audit executive is ensuring due professional care.

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Bonita

5 months ago

B) Ensuring the internal audit activity is not found fallible during audit engagements is not realistic. Auditors should strive for excellence, but perfection is unattainable.

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Deeann

5 months ago

D) Ensuring the internal audit activity reports functionally to the board of directors is also a good option. This helps maintain the independence of the internal audit function.

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Vivan

5 months ago

D) Ensuring the internal audit activity reports functionally to the board of directors

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King

5 months ago

A) Developing policies and procedures for the internal audit activity

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Nguyet

6 months ago

A) Developing policies and procedures for the internal audit activity is the correct answer. This ensures that internal auditors have clear guidelines to follow and maintain due professional care.

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Nicolette

4 months ago

C) Undertaking all engagements that management requests of the internal audit activity.

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Mona

4 months ago

B) Ensuring the internal audit activity is not found fallible during audit engagements.

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Rashad

5 months ago

A) Developing policies and procedures for the internal audit activity is the correct answer.

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Galen

6 months ago

I think the answer is A) Developing policies and procedures for the internal audit activity.

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