Emphasizing the review of fieldwork completed by internal auditors is crucial for maintaining objectivity.
This practice ensures that work is independently checked, helping to prevent bias or errors in the audit process. Regular review by a different auditor or a supervisor can help maintain objectivity and adherence to auditing standards. References: The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), specifically Standard 1311 - Internal Assessments, and Standard 1320 - Reporting on the Quality Assurance and Improvement Program.

The board of directors is responsible for setting the risk appetite of the organization. They define the level and type of risk the organization is willing to accept in pursuit of its goals and objectives. This strategic role ensures that the organization's risk management framework aligns with its long-term vision and governance structure.
IIA guidance on governance and risk management

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.
IIA Standard 2120 - Risk Management

Among the survey questions provided, the most effective for identifying ethics violations is: Does your supervisor comply with laws and regulations affecting the organization? This question directly addresses compliance and ethical behavior of supervisors, which is crucial for setting an ethical tone at the top and ensuring organizational integrity.
* Option A: Relates to performance targets and is not directly about ethics.
* Option B: Focuses on skills and training, which are important but not specific to ethics.
* Option D: Concerns resources and time, not directly addressing ethical violations.
IIA's Practice Guide on " Auditing Culture " .
Compliance and Ethics Programs guidance.

The duties that should not be performed by the same person to ensure adequate segregation of duties include recording cash receipts and preparing bank reconciliations. Combining these duties in one individual can lead to potential fraud or errors not being detected within the cash management processes.
Common principles of internal control regarding segregation of duties, aimed at preventing fraud and errors by ensuring no one individual has control over all aspects of a financial transaction.