IOK 211 Exam practice questions (MCQ) questions with correct answers

During the first quarter of the 20th century, the major objective of internal auditors was the: a) issuance of audit opinions similar to those now issued by CAs. b) evaluation of internal controls. c) protection of assets and detection of fraud. d) assistance to management. Correct Answer-C Of the following, which is the major objective of The Institute of Internal Auditors? a) Cultivate, promote, and disseminate information concerning internal auditing and related subjects. b) Oversee the activities of internal auditors. c) Promulgate standards that must be followed by all corporations. d) Investigate accusations that CIAs have violated the Code of Ethics. Correct Answer-A A Certified Internal Auditor who is judged in violation of the provisions of The IIA's Code of Ethics shall: a) receive a probationary warning. b) forfeit the CIA designation. c) be fined an appropriate amount.