Red Book and Yellow Book

Question 1

Red Book: What is the title of Domain 1?

Answer 1

Purpose of Internal Auditing

Question 2

Red Book: What is Domain 2?

Answer 2

Ethics and Professionalism

Question 3

Red Book: What is Domain 3?

Answer 3

Governing the Internal Audit Function

Question 4

Red Book: What is Domain 4?

Answer 4

Managing the Internal Audit Function

Question 5

Red Book: What is Domain 5?

Answer 5

Performing Internal Audit Services

Question 6

Red Book: What is are the Principles of Domain 2. Ethics and Professionalism?

Answer 6

Principle 1: Demonstrate Integrity
Principle 2: Maintain Objectivity
Principle 3: Demonstrate Competency
Principle 4: Exercise Due Professional Care
Principle 5: Maintain Confidentiality

Question 7

Red Book: What is are the Principles of Domain 3. Governing the Internal Audit Function?

Answer 7

Principle 6: Authorized By the Board
Principle 7: Positioned Independently
Principle 8: Overseen by the Board

Question 8

Red Book: What is are the Principles of Domain 4. Managing the Internal Audit Function?

Answer 8

Principle 9: Plan Strategically
Principle 10: Manage Resources
Principle 11: Communicate Effectively
Principle 12: Enhance Quality

Question 9

Red Book: What are the Principles of Domain 5. Performing Internal Audit Services?

Answer 9

Principle 13: Plan Engagements Effectively
Principle 14: Conduct Engagement Work
Principle 15: Communicate Engagement Results and Monitor Action Plans

Question 10

What is the purpose of internal auditing?

Answer 10

To strengthen the organization’s ability to create, protect, and sustain value by providing board and management with independent, risk-based, and objective assurance, advice, insight, and foresight.

Question 11

Red Book: What are the Standards for Domain 5, Principle 13 Plan Engagements Effectively?

Answer 11

Engagement Communication
Engagement Risk Assessment
Engagement Objectives and Scope
Engagement Evaluation Criteria
Engagement Resources
Engagement Work Program

Question 12

Red Book: What are the Standards for Domain 5, Principle 14 Conduct Engagement Work?

Answer 12

Gathering Information and Analyses and Evaluation
Analyses and Potential Engagement Findings
Evaluation of Findings
Recommendations and Action Plans
Engagement Conclusions
Engagement Documentation

Question 13

Red Book: What are the Standards for Domain 5, Principle 15 Communicate Engagement Results and Monitor Actions Plans?

Answer 13

Final Engagement Communication
Confirming the Implementation of Recommendations and Action Plans