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35 IAA

Authored by Remil Yabut

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 35 IAA
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four important risk-based outputs that successful management of risk depends on?

Optional, assurance, decision making, effective and efficient core processes

Mandatory, assurance, decision making, ineffective and inefficient core processes

Mandatory, assurance, decision making, effective and efficient core processes

Mandatory, assurance, guesswork, effective and efficient core processes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary concern of internal audit?

Risk assurance

Risk identification

Risk avoidance

Risk acceptance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the fieldwork in an internal audit exercise?

To understand risks and controls in place

To finalize the audit report

To set audit priorities

To collect information for the audit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of internal auditors during an audit?

Implementing controls

Designing controls

Avoiding controls

Testing controls

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary responsibility for managing risk within an organization?

Executive management

Internal audit

Risk management

External auditors

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main difference between the three lines of defense model and the five lines of assurance model?

Reporting relationships

Focus on assurance vs. control

Focus on control vs. assurance

Number of lines

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the board of directors in the five lines of assurance model?

Provide overall assurance

Implement controls

Ignore risks

Audit controls

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