According to internal auditing standards, who should internal auditors communicate with regarding fraud risks? Group of answer choicesOnly external auditorsOnly senior managementBoth senior management and the boardOnly internal audit department

What is the role of internal auditors in responding to identified fraud risks? Group of answer choicesTake immediate disciplinary actionIgnore the risk to maintain confidentialityReport to external authoritiesEvaluate the adequacy of controls

According to internal auditing standards, what should be the focus of internal audit activities related to fraud?Group of answer choicesProviding legal adviceProving fraudIdentifying fraud opportunitiesOffering financial assistance

Which of the following is a key element in preventing fraud according to internal auditing standards? Group of answer choicesInformal communication channelsMinimal documentationLack of management oversightSegregation of duties

Which of the following is a common fraud risk factor according to internal auditing standards?Group of answer choicesIneffective communication channelsAdequate employee trainingTransparent financial reportingStrong ethical culture

What is the primary objective of internal auditing in relation to fraud?Group of answer choicesTo prevent fraudTo report on fraudTo detect fraudTo investigate fraud