IIA-CIA-PART2 · Question #40
The chief audit executive (CAE) of a small internal audit activity (IAA) plans to test conformance with the Standards through a quality assurance review. According to the Standards, which of the…
The correct answer is B. 2 and 4. According to IIA Standards, acceptable practices for testing conformance through a quality assurance review include conducting a self-assessment with independent validation (2) and arranging for reciprocal peer review with another CAE (4). These methods provide a cost…
Question
Options
- A1 and 2
- B2 and 4
- C1, 2, and 3
- D2, 3, and 4
How the community answered
(57 responses)- A11% (6)
- B81% (46)
- C4% (2)
- D5% (3)
Explanation
According to IIA Standards, acceptable practices for testing conformance through a quality assurance review include conducting a self-assessment with independent validation (2) and arranging for reciprocal peer review with another CAE (4). These methods provide a cost- effective and practical approach to ensuring compliance with professional standards, especially for small internal audit activities. Using an external service provider (1) and arranging for a review by qualified employees outside of the IAA (3) are also valid, but self-assessment with independent validation and peer review are specifically highlighted for smaller IAAs.
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