Certified Internal Auditor-Internal Audit Knowledge Elements exams.
Question — (Single Choice)
Which of the following statements is correct regarding risk analysis?
Answer:A
Question — (Single Choice)
Which of the following statements regarding organizational governance is not correct?
Answer:B
Question — (Single Choice)
Which of the following is a role of the board of directors in the governance process?
Answer:B
Question — (Single Choice)
Which is the least effective form of risk management?
Answer:D
Question — (Single Choice)
Which of the following statements is correct regarding corporate compensation systems and related
bonuses?
1. A bonus system should be considered part of the control environment of an organization and
should be considered in formulating a report on internal control.
2. Compensation systems are not part of an organization's control system and should not be reported
as such.
3. An audit of an organization's compensation system should be performed independently of an
audit of the control system over other functions that impact corporate bonuses.
Answer:A
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