CIA - Part 1 Unit 1

Question 1

An Effect Internal Function has what five things?

Answer 1

PRODS

Processes
Reputation
Objectives
Decision making
Serving the interest of the public

Question 2

What elements establish the internal audit mandate?

Answer 2

STARR

ST: Scope and Type of audit services to be delivered

A: Authority of the IA funciton

R: Role of IA Function

R: Responsibility of IA Function

Question 3

What is in the Internal Audit Charter?

Answer 3

PICO

Purpose

Internal Audit Mandate

Commitment to adhering the Global Internal Audit Standards

Org chart position