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Certified Internal Auditor (CIA) Ethics Case Study

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Questions and Answers

What principle of ethics did the CAE uphold by notifying the audit committee?

Professionalism
Confidentiality
Integrity (correct)
Objectivity

What is the role of the audit committee in the organization?

To provide governance and prevent fraud (correct)
To review financial statements
To investigate internal control issues
To perform internal audits

What is the principle of objectivity in internal auditing?

A commitment to providing stakeholders with unbiased information (correct)
A commitment to honesty, diligence, and responsibility
A commitment to disclosing all material facts
A commitment to independence from conflicts of interest

What is the purpose of Rule of Conduct 2.3 for objectivity?

To ensure internal auditors disclose all material facts (A) Signup and view all the answers

Why did the CAE not violate the principle of confidentiality?

Because the CAE reported the issue to the audit committee (A) Signup and view all the answers

What is the result of upholding the principle of integrity?

Establishing trust (C) Signup and view all the answers

What is NOT guaranteed in an auditor's promise?

Confidentiality (A) Signup and view all the answers

Which principle of the IIA's Code of Ethics is related to an auditor's commitment to a balanced assessment of all circumstances?

Objectivity (A) Signup and view all the answers

What is a key aspect of the Integrity principle according to Rule of Conduct 1.2?

Observing the law and making disclosures expected by the law (C) Signup and view all the answers

What is a consequence of an internal auditor's integrity?

Establishing trust and reliance on their judgment (A) Signup and view all the answers

What is a key aspect of Rule of Conduct 1.3?

Not knowingly being a party to any illegal activity (C) Signup and view all the answers

What is NOT a core principle of the IIA's Code of Ethics?

Professionalism (C) Signup and view all the answers

What is an aspect of objectivity in internal auditing?

Avoidance of conflicts of interest (D) Signup and view all the answers

What is explicitly prohibited by the Code of Ethics?

Accepting anything that may impair professional judgment (D) Signup and view all the answers

What is an aspect of confidentiality in internal auditing?

Refraining from using confidential information for unethical or illegal advantage (D) Signup and view all the answers

What is a component of integrity in internal auditing?

Observing the law (B) Signup and view all the answers

What is an aspect of professionalism in internal auditing?

Maintenance of an appropriate level of professional expertise (B) Signup and view all the answers

What guides the internal auditor’s conduct?

The profession’s standards (B) Signup and view all the answers

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