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NEW QUESTION 25
Which of the following processes should be included in a benchmarking activity?
I.Identify key measures.
II.
Collect data on performances and practices.
III.
Identify opportunities for improvement.
Answer: B
NEW QUESTION 26
Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates
$1.25 million customer payments due during the contract period.
Which of the following represents the organization's residual risk for online customer payments due?
Answer: C
Explanation:
Section: Volume F
NEW QUESTION 27
The chief audit executive (CAE) is planning to conduct an internal assessment of the internal audit activity (IAA). Part of this assessment will include benchmarking. According to IIA guidance,which of the following qualitative metrics would be appropriate for the CAE to use?
1.Average client customer satisfaction score for a given year.
2.Client survey comments on how to improve the IAA.
3.Auditor interviews once an audit has been completed.
4.Percentage of audits completed within 90 days.
Answer: C
NEW QUESTION 28
According to IIA guidance, which of the following statements is true regarding ISO 31000?
Answer: A
NEW QUESTION 29
To fill a critical vacancy, an internal auditor is assigned temporarily to a nonaudit role in the purchasing department, where she worked previously before joining the internal audit activity. According to IIA guidance, which of the following statements is true regarding these circumstances?
Answer: C
NEW QUESTION 30
......
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