AI moves into internal audit

Multiple-choice questions. In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

According to a 2024 study, what percentage of internal audit teams use data analytics to some degree?

15 percent

78 percent

43 percent

98 percent

According to the Institute of Internal Auditors, what percentage of survey respondents are using AI?

7 percent

43 percent

78 percent

15 percent

What is the safest way to introduce AI into audit?

Neither of the other answers

Both of the other answers

Instigating a pilot project

Selecting a use case with measurable impact

What benefits can AI bring to internal audit’s workflow?

Automating data cleansing and analysis

Deeper planning and risk prediction

All of the other answers

Performing quicker, more comprehensive checks

Which of the following statements is true? Statement 1, internal audit must develop beyond doing things right, or statement 2, internal audit must develop towards doing the right things

Statement 2

Neither statement

Statement 1

Both statements

Which of the following statements is true? Statement 1, internal audit is no longer required to take a retrospective approach, or statement 2, internal audit is now solely focused on offering insight and foresight

Neither statement

Statement 2

Statement 1

Both statements

Which of the following is the least effective way for internal audit to identify issues?

All of the other answers are equally effective

By setting up early-warning signals

By creating audit reports

By developing dynamic dashboards

Which of the following statements is true? Statement 1, AI adoption should be driven by the audit plan’s existing objectives, or statement 2, AI adoption should be driven by technology trends

Both statements

Statement 2

Neither statement

Statement 1

What is the chief circumstance where internal audit might delay AI implementation?

If use of AI in internal audit is not yet common in the organisation’s sector

All of the other answers

If the organisation’s data governance is not yet strong enough

If the organisation cannot afford to implement AI

What is the most important way to ensure ethics are maintained when using AI?

By ensuring transparency

By creating a culture that sees AI as a tool

All the other answers are equally important

By introducing controls to detect bias

1 Unit

AI moves into internal audit

According to a 2024 study, what percentage of internal audit teams use data analytics to some degree?

According to the Institute of Internal Auditors, what percentage of survey respondents are using AI?

What is the safest way to introduce AI into audit?

What benefits can AI bring to internal audit’s workflow?

Which of the following statements is true? Statement 1, internal audit must develop beyond doing things right, or statement 2, internal audit must develop towards doing the right things

Which of the following statements is true? Statement 1, internal audit is no longer required to take a retrospective approach, or statement 2, internal audit is now solely focused on offering insight and foresight

Which of the following is the least effective way for internal audit to identify issues?

Which of the following statements is true? Statement 1, AI adoption should be driven by the audit plan’s existing objectives, or statement 2, AI adoption should be driven by technology trends

What is the chief circumstance where internal audit might delay AI implementation?

What is the most important way to ensure ethics are maintained when using AI?

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