Proficiency and Due Professional Care

Question 1

The knowledge, skills, and other competencies required of internal auditors to effectively carry out their professional responsibilities.

Answer 1

Proficiency

Question 2

Which three areas does proficiency cover?

Answer 2

1. Current activities
2. Trends
3. Emerging issues

Question 3

What are the four basic concepts internal auditors need to comprehend at the engagement level to exercise due professional care?

Answer 3

1. Objectives of engagement
2. Scope of engagement
3. Competencies required
4. Knowledge of any specific policies and procedures

Question 4

The means by which members of a profession maintain, improve, and broaden the knowledge, skills, and competence required in their professional lives.

Answer 4

Continuing professional development

Question 5

The collective knowledge, skills, abilities, and personal attributes that can lead to exceptional performance.

Answer 5

Competencies

Question 6

The level of proficiency needed to perform the internal audit activity.

Answer 6

Skills

Question 7

The systematic measurement of characteristics (education, experience, etc.) that results in recognition of an individual as one who meets the suggested knowledge and other minimum requirements for a position or a profession.

Answer 7

Certification

Question 8

The body of information necessary to perform the internal audit activity.

Answer 8

Knowledge

Question 9

Competencies required to demonstrate the authority, credibility, and ethical conduct essential for a valuable internal audit activity.

Answer 9

Professionalism competencies

Question 10

Mission of internal auditing, internal audit charter, organizational independence, individual objectivity, ethical behavior, due professional care, and professional development are the seven knowledge areas that make up the core of what?

Answer 10

Professional competencies

Question 11

Competencies required to plan and perform internal audit engagements in conformance with the Standards.

Answer 11

Performance competencies

Question 12

Competencies required to identify and address the risks specific to the industry and environment in which the organization operates.

Answer 12

Environment competencies

Question 13

Competencies required to provide strategic direction, communicate effectively, maintain relationships, and manage internal audit personnel and processes.

Answer 13

Leadership & Communication competencies

Question 14

What are the three principal points of focus for an internal auditor’s expertise?

Answer 14

1. IPPF
2. Governance, risk, and control
3. Business acumen