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IIA Exam IIA-CHAL-QISA Topic 2 Question 1 Discussion

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

Question #: 1
Topic #: 2

[All IIA-CHAL-QISA Questions]

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 Phuong at Jul 03, 2024, 07:10 PM

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Dannie

12 months ago

Option D? More like 'Ensuring the internal audit activity reports functionally to the board of directors... and then runs for the hills'.

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Luz

12 months ago

Option A? More like 'Developing policies and procedures for the internal audit activity to avoid falling asleep during engagements'.

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Jovita

12 months ago

I'd have to go with option C. Taking on all management requests shows the internal auditors are really dedicated to their work.

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Lynda

12 months ago

Option B is the way to go. Ensuring the internal audit activity is never found fallible is the ultimate way to demonstrate due professional care.

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Julio

11 months ago

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

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Golda

11 months ago

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

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Dahlia

11 months ago

A) Developing policies and procedures for the internal audit activity

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Gilberto

12 months ago

Option D sounds like the best choice to me. Reporting to the board strengthens the independence and objectivity of the internal audit function.

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Keena

11 months ago

Undertaking all engagements requested by management seems like a lot of work.

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Katie

11 months ago

Developing policies and procedures is also important for due professional care.

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Earleen

11 months ago

I agree, reporting to the board enhances independence.

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Aliza

11 months ago

I think option D is the best choice.

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Katheryn

1 years ago

I think option A is the correct answer. Developing policies and procedures helps ensure consistent application of due professional care.

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Olive

12 months ago

I think option D is also important, reporting functionally to the board of directors can help ensure independence and objectivity.

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Aleshia

12 months ago

I agree, developing policies and procedures is crucial for demonstrating due professional care.

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Sherell

1 years ago

That's a good point, Cora. Reporting to the board of directors can also ensure independence and objectivity in the internal audit activity.

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Cora

1 years ago

But what about option D) Ensuring the internal audit activity reports functionally to the board of directors? Wouldn't that also demonstrate due professional care?

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Suzi

1 years ago

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

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Sherell

1 years ago

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

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