AI in Internal Audit Quiz

Answers and explanations appear as you take the quiz.

1. What separates continuous auditing from continuous monitoring in the guide?
   • Continuous auditing is done only once a year
   • Continuous monitoring is performed by external auditors
   • Continuous auditing is internal audit's recurring automated testing, while continuous monitoring is management's own oversight
   • They are two names for the same activity
2. Internal audit builds a monitoring dashboard that management starts relying on as a control. What does the guide recommend?
   • Hand ownership to management and have internal audit test the control periodically
   • Keep running it inside internal audit indefinitely
   • Shut it down because internal audit cannot use analytics
   • Let the external auditor take it over
3. Which IIA model sets out that management owns controls while internal audit provides independent assurance?
   • The COSO cube
   • The Three Lines Model
   • The AI auditing framework
   • The Benford model
4. When did the IIA's Global Internal Audit Standards take effect?
   • January 2020
   • January 2023
   • They are still in draft
   • January 2025
5. Which continuous auditing test from the guide targets a common payment fraud pattern?
   • Counting the number of employees in each department
   • Checking for vendor bank detail changes followed soon by a payment
   • Measuring how fast the ERP system runs
   • Listing all policies that are due for review
6. Generative AI drafts audit findings around which traditional structure mentioned in the guide?
   • Criteria, condition, cause and effect
   • Plan, do, check, act
   • Revenue, expense, asset and liability
   • Strengths, weaknesses, opportunities and threats
7. What is the main risk the guide names when auditors paste workpapers into a public chatbot?
   • The chatbot will format the report badly
   • The audit plan will become risk-based
   • Confidential information may leak outside the organization
   • The findings will become too short
8. An AI model ranks audit areas for the annual plan. What does the guide say must still happen?
   • The plan must follow the model's ranking exactly
   • The model must be approved by the external auditor
   • Risk rankings must be hidden from the audit committee
   • The chief audit executive decides the plan, and any overrides are documented with reasons