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Which of the following is a way to demonstrate an individual internal auditor's competency through continuing professional development?
Reviewing training records for all internal auditors is a way to demonstrate an individual internal auditor's competency through continuing professional development. This method ensures that each auditor's training aligns with required competencies and standards, providing a clear record of professional development activities. Reference: IIA standards on assessing professional competencies and continuing education.
Which of the following actions is the internal audit activity best positioned within the organization to perform?
The internal audit activity is best positioned to monitor the organization's risk mitigations. This role involves regularly reviewing and assessing the effectiveness of risk management processes and controls that management has implemented to mitigate identified risks. This monitoring function is a key component of the internal audit's assurance services. Reference: IIA Standard 2120 - Risk Management
Which of the following is an example of an application control?
An example of an application control specifically involves the software or system used to process information. A two-stage authentication process to access customer information is an application control because it involves the authentication mechanisms within the application software to secure access to sensitive data. This control helps in verifying the identity of users and ensuring that access to critical data is restricted to authorized personnel only. Reference: IT Governance Institute's COBIT Framework.
In its five years of existence, an internal audit activity conducted a single internal assessment of its quality assurance and improvement program (QAIP). The results of that assessment showed that the internal audit activity did not conform with the Standards. Prior to this, an external assessment of the internal audit activity's QAIP was conducted, which reported that the internal audit activity was in conformance with the Standards. Considering the two assessments, what would be the internal audit activity's current state of conformance with the Standards?
The current state of conformance with the Standards for the internal audit activity would be considered as 'Nonconformance with the Standards.' This assessment is based on the most recent internal assessment, which showed nonconformance. According to IIA standards, the results of the latest quality assurance review are critical in determining conformance, and any finding of nonconformance indicates that the internal audit activity currently does not meet the Standards, despite previous external assessments to the contrary. Reference: IIA Standard 1300: Quality Assurance and Improvement Program and related interpretation guidelines.
Which of the following would provide the best support for internal auditors to meet their continuing professional development requirements?
Providing access to online internal audit and business skills courses is the best support for internal auditors to meet their continuing professional development requirements. This resource offers auditors the opportunity to continuously enhance their knowledge and skills in a flexible and accessible manner, which is crucial for maintaining the proficiency and effectiveness required by the IIA standards. Reference: IIA's Continuing Professional Education (CPE) requirements
