Here is a set of basics of the internal audit questions to test your knowledge. These are mostly derived from the CIA part 1 material. So this will only help you with the exam. Good luck !
1. Type of Audit activity that adds value to the organisation
2. Concept or convention relating to the importancesignificance of an amount, transaction or discrepancy.
3. In applying the standards of conduct set forth in the Code of Ethics, internal auditors are expected to exercise individual .........
4. An exception report for management is an example of ......... control
5. As part of a total quality control program, a firm not only inspects finished goods but also monitors product returns and customer complaints. Which type of control best describes these efforts?
6. Risk is the level of risk that an entity or a manager is willing to assume or accept in order to achieve a potential desired result.
7. Risk that is builtin is ...... risk
8. Activity that is perpetrated to be detriment to the interests of the organisation
9. Written evidence is more ..... than oral
10. Having an impartial attitude towards the audit is ........
X
Congratulations! You have got them all right.
Very Good Hari.