WGU D560 INTERNAL AUDITING I OA
OBJECTIVE ASSESSMENT 59 QUESTIONS
ACTUAL PAPER 2026 COMPLETE
QUESTIONS AND ANSWERS GRADED A+
⩥ What does the Quality Assurance and Improvement Program include?
Answer: Both internal and external assessments of the internal audit
function.
⩥ How often must external assessments of the internal audit function be
conducted? Answer: At least once every five years.
⩥ What is the purpose of the Performance Standards? Answer: To
describe the nature of internal audit services and the criteria for
assessing their performance.
⩥ What is the responsibility of the CAE regarding the internal audit
function? Answer: To manage the internal audit function and ensure it
adds value to the organization.
⩥ What must the internal audit activity achieve according to its charter?
Answer: It must achieve the purpose and responsibilities included in the
internal audit charter.
,⩥ What does Standard 2010 - Planning require from the CAE? Answer:
To establish a risk-based plan to determine the priorities of the internal
audit activity.
⩥ What is the nature of work according to Standard 2100? Answer: The
internal audit activity must evaluate and contribute to the improvement
of governance, risk management, and control processes.
⩥ What are the phases of the engagement process in internal auditing?
Answer: Engagement planning, performance engagement, and
communicating results.
⩥ What must internal auditors document for each engagement? Answer:
A plan that includes the engagement's objectives, scope, timing, and
resource allocations.
⩥ What are the consequences of nonconformance with the Code of
Ethics or Standards? Answer: The CAE must disclose the
nonconformance and its impact to senior management and the board.
⩥ What does ongoing monitoring of the internal audit function involve?
Answer: Regular performance assessments to ensure compliance with
the Standards.
,⩥ What is the role of the CAE in relation to quality assurance results?
Answer: To communicate the results of the quality assurance and
improvement program to senior management and the board.
⩥ What is required for internal assessments according to Standard 1311?
Answer: Ongoing monitoring and periodic self-assessments by
knowledgeable individuals within the organization.
⩥ What must the CAE ensure regarding internal audit resources?
Answer: That they are appropriate, sufficient, and effectively deployed
to achieve the approved plan.
⩥ What is the significance of positioning the internal audit function at a
high level? Answer: It facilitates broad audit coverage and promotes due
consideration of engagement outcomes.
⩥ What must the CAE report to senior management and the board?
Answer: Significant risk and control issues, including fraud risks and
governance issues.
⩥ What must internal auditors develop and document for each
engagement? Answer: A plan including the engagement's objectives,
scope, timing, and resource allocations.
, ⩥ What criteria must communications include? Answer: Engagement's
objectives, scope, and results.
⩥ What must be done if a final communication contains a significant
error? Answer: The chief audit executive must communicate corrected
information to all parties who received the original communication.
⩥ Under what condition can internal audit functions report conformance
with the International Standards? Answer: If the results of the quality
assurance and improvement program support the statement.
⩥ What must be disclosed if there is nonconformance with the Code of
Ethics or Standards? Answer: Principle(s) or rule(s) of conduct not
achieved, reasons for nonconformance, and the impact on the
engagement results.
⩥ Who is responsible for communicating internal audit engagement
results? Answer: The chief audit executive (CAE).
⩥ What does Standard 2500 require the CAE to ascertain for assurance
engagements? Answer: That management actions have been effectively
implemented or that senior management has accepted the risk of not
taking action.
OBJECTIVE ASSESSMENT 59 QUESTIONS
ACTUAL PAPER 2026 COMPLETE
QUESTIONS AND ANSWERS GRADED A+
⩥ What does the Quality Assurance and Improvement Program include?
Answer: Both internal and external assessments of the internal audit
function.
⩥ How often must external assessments of the internal audit function be
conducted? Answer: At least once every five years.
⩥ What is the purpose of the Performance Standards? Answer: To
describe the nature of internal audit services and the criteria for
assessing their performance.
⩥ What is the responsibility of the CAE regarding the internal audit
function? Answer: To manage the internal audit function and ensure it
adds value to the organization.
⩥ What must the internal audit activity achieve according to its charter?
Answer: It must achieve the purpose and responsibilities included in the
internal audit charter.
,⩥ What does Standard 2010 - Planning require from the CAE? Answer:
To establish a risk-based plan to determine the priorities of the internal
audit activity.
⩥ What is the nature of work according to Standard 2100? Answer: The
internal audit activity must evaluate and contribute to the improvement
of governance, risk management, and control processes.
⩥ What are the phases of the engagement process in internal auditing?
Answer: Engagement planning, performance engagement, and
communicating results.
⩥ What must internal auditors document for each engagement? Answer:
A plan that includes the engagement's objectives, scope, timing, and
resource allocations.
⩥ What are the consequences of nonconformance with the Code of
Ethics or Standards? Answer: The CAE must disclose the
nonconformance and its impact to senior management and the board.
⩥ What does ongoing monitoring of the internal audit function involve?
Answer: Regular performance assessments to ensure compliance with
the Standards.
,⩥ What is the role of the CAE in relation to quality assurance results?
Answer: To communicate the results of the quality assurance and
improvement program to senior management and the board.
⩥ What is required for internal assessments according to Standard 1311?
Answer: Ongoing monitoring and periodic self-assessments by
knowledgeable individuals within the organization.
⩥ What must the CAE ensure regarding internal audit resources?
Answer: That they are appropriate, sufficient, and effectively deployed
to achieve the approved plan.
⩥ What is the significance of positioning the internal audit function at a
high level? Answer: It facilitates broad audit coverage and promotes due
consideration of engagement outcomes.
⩥ What must the CAE report to senior management and the board?
Answer: Significant risk and control issues, including fraud risks and
governance issues.
⩥ What must internal auditors develop and document for each
engagement? Answer: A plan including the engagement's objectives,
scope, timing, and resource allocations.
, ⩥ What criteria must communications include? Answer: Engagement's
objectives, scope, and results.
⩥ What must be done if a final communication contains a significant
error? Answer: The chief audit executive must communicate corrected
information to all parties who received the original communication.
⩥ Under what condition can internal audit functions report conformance
with the International Standards? Answer: If the results of the quality
assurance and improvement program support the statement.
⩥ What must be disclosed if there is nonconformance with the Code of
Ethics or Standards? Answer: Principle(s) or rule(s) of conduct not
achieved, reasons for nonconformance, and the impact on the
engagement results.
⩥ Who is responsible for communicating internal audit engagement
results? Answer: The chief audit executive (CAE).
⩥ What does Standard 2500 require the CAE to ascertain for assurance
engagements? Answer: That management actions have been effectively
implemented or that senior management has accepted the risk of not
taking action.
