According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization's social responsibility program is effective?
Correct Answer: A
According to IIA guidance, senior management is ultimately responsible for ensuring that the internal control system of an organization's social responsibility program is effective. This responsibility stems from management's role in establishing and maintaining a system of internal controls that supports the achievement of organizational objectives, including those related to social responsibility.References: IIA's guidance on governance, which places responsibility for the effectiveness of internal controls primarily on senior management.
IIA-CIA-Part1 Exam Question 292
According to IIA guidance, which of the following best demonstrates due professional care?
Correct Answer: D
Demonstrating due professional care involves assessing the cost of assurance in relation to the potential benefits (Option D). This approach ensures that internal audit resources are used efficiently and effectively, providing value to the organization. According to IIA Standards, Standard 1220: Due Professional Care, internal auditors must consider the extent of work needed to achieve the engagement's objectives and the relative complexity, materiality, or significance of matters to which assurance procedures are applied. Staffing audit engagements with qualified auditors (Option A), relying on prior work (Option B), and guaranteeing identification of all significant risks (Option C) do not fully encapsulate the essence of due professional care, which balances cost and benefit. References: * IIA Standards, Standard 1220: Due Professional Care * IIA's International Professional Practices Framework (IPPF)
