An Internal Auditor Finds During an Engagement That Payment for the Organization's

question 126

Multiple Choice

An internal auditor finds during an engagement that payment for the organization's general insurance policy is two months overdue. The issue is informally mentioned to the finance department which immediately submits the invoice for payment. The auditor decides to exclude this finding from the final audit report as the oversight was immediately corrected and there were no consequences because of this late payment. Which of the following rules of conduct as described in the IIA Code of Ethics, did the auditor fail to uphold?

• A) Confidentiality.
• B) Objectivity.
• C) Integrity.
• D) Competency.

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Definitions:

Debtor's Attorneys

Lawyers who represent individuals or entities that owe money to another party.

Bankruptcy Practice

The area of legal practice focusing on the laws and procedures governing bankruptcy and insolvency, including the rights of creditors and debtors.

Responsibility

The duty or obligation to carry out tasks, make decisions, and face the consequences of actions or inactions.

Federal Exemptions

Specific protections provided by federal law that prevent certain property or assets from being seized or sold to repay debts.