Question 1: *

The expected functions of the internal auditor should exclude financial audit oversight.

Enter required value Yes No Other

Question 2: *

Oversight and performance of operational audits by an internal audit function in a credit union are essential to ensure efficiency, effectiveness, and compliance with policies and procedures.

Enter required value Yes No Other

Question 3: *

Fraud detection and prevention are minor responsibilities of the internal audit function in a credit union, and establishing a whistleblower program is unnecessary.

Enter required value Yes No Other

Question 4: *

True or False: An effective evaluation by the Supervisory Committee of the internal audit function does not require consideration of follow-up on recommendations.

Enter required value Yes No Other

Question 5: *

Interaction between the Supervisory Committee and the Internal Audit Function should focus on regular communication, reporting, and an advisory role to enhance governance and oversight.

Enter required value Yes No Other

Question 6: *

According to NCUA guidelines, the internal audit function should report directly to the credit union's management team to ensure independence and objectivity in the audit process.

Enter required value Yes No Other

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