Demonstrating Internal Audit competencies

In order to be award CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

In the author’s experience, which of the three skillsets are the most effective internal auditors especially good at?

All three skillsets equally

Technical auditing or accounting skills plus critical thinking & business understanding

Critical thinking & business understanding plus interpersonal & communication skills

Technical auditing or accounting skills plus interpersonal & communication skills

Technical auditing or accounting competencies involve which of the following?

All of these answers

Performing testing

Reviewing processes and controls

Identifying apparent anomalies

Which of these factors should critical thinking consider?

All of these answers

The quality of management in the unit or area being audited

The organisation’s culture

How long have management in the unit or area been in their role

The advice “Learn to ask of all actions, “why are they doing that?” Starting with your own…” was given by who?

Marcus Aurelius

Mark Twain

William Shakespeare

Fyodor Dostoevsky

Which of these answers is correct?

All of these answers

Strong processes do not need to be well-documented

Strong processes should have a “failsafe” philosophy

Strong processes should be able to rely on people remembering to do certain things

Why might auditees be apprehensive?

All of these answers

They may worry that that they may not be doing something correctly

Their processes may not be adequately explained

Their processes may not be well-documented

Which of these techniques does the author NOT suggest as being useful when meeting more senior management?

Provide as much detail as possible – the more the better

Be pragmatic and recognise that not all weaknesses will be fixed

Don’t be afraid to engage with senior management

Take a more strategic view when talking to senior management

Select the correct answer:

There is no such thing as healthy scepticism

Experienced auditors tend to adopt a healthy scepticism when presented with information that does not appear to be consistent

There is no such thing as professional scepticism

Only inexperienced auditors are sceptical

Select the best answer to this question - what is needed for an internal audit team to be well regarded?

Auditors just need to provide meaningful challenge

Auditors need to understand the business but should not be too challenging

Auditors just need to understand the business

Auditors need to both understand the business and provide meaningful challenge

Which of these interpersonal skills are useful for auditors to get auditees to open up?

All of these answers

Being empathetic

Building rapport

Explaining what the audit is trying to do

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Demonstrating Internal Audit competencies

In the author’s experience, which of the three skillsets are the most effective internal auditors especially good at?

Technical auditing or accounting competencies involve which of the following?

Which of these factors should critical thinking consider?

The advice “Learn to ask of all actions, “why are they doing that?” Starting with your own…” was given by who?

Which of these answers is correct?

Why might auditees be apprehensive?

Which of these techniques does the author NOT suggest as being useful when meeting more senior management?

Select the correct answer:

Select the best answer to this question - what is needed for an internal audit team to be well regarded?

Which of these interpersonal skills are useful for auditors to get auditees to open up?

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