An Internal Audit Activity (IAA) Provided Assurance Services for an Activity

question 36

Multiple Choice

An internal audit activity (IAA) provided assurance services for an activity it was responsible for during the preceding year. As a result, which IIA Code of Ethics principle is presumed to be impaired?

• A) Competence.
• B) Flexibility.
• C) Objectivity.
• D) Independence.

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Definitions:

Default Option

A predetermined choice or setting that is selected automatically unless an alternative is specified by the user.

Goal Shielding

The cognitive process of protecting one's focus on a specific goal by inhibiting attention to conflicting or distracting goals or information.

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires, leading to a deeper understanding of oneself.

Temporal Discounting

A cognitive bias where people tend to value immediate rewards more highly than future rewards, often leading to short-sighted decision-making.