According to the IIA...
When do the new Global Internal Audit Standards become effective?
A. January 2024
B. July 2024
C. January 2025
D. December 2025
C. January 2025
What is the primary purpose of the Group Audit Manual?
A. To define QBE’s financial reporting standards
B. To outline GIA’s audit methodology and mandatory processes
C. To manage external audit relationships
D. To set insurance pricing guidelines
B. To outline GIA’s audit methodology and mandatory processes
Who had a work anniversary on April 22nd?
A. Rachel
B. Eric
C. Sharon
D. Julia
B. Eric
What new timesheet category was introduced in TM+ to better capture audit-related activities?
A. General Admin
B. Training
C. Stakeholder Engagement
D. Lessons Learned
B. Training
Which audit report included a review of the Risk Culture using exception-based assurance?
A. Claims TPAO
B. Data Management
C. Accident & Health Captives
D. All of the above
D. All of the above
What is the name of the IIA’s initiative that led to the new standards?
A. Audit Forward
B. IPPF Evolution
C. Risk Culture Refresh
D. Governance 360
B. IPPF Evolution
What is the minimum requirement for documenting audit procedures?
A. Enough detail for internal review
B. Enough detail for re-performance by a qualified third party
C. A summary of findings
D. A checklist of controls
B. Enough detail for re-performance by a qualified third party
Who was recognized for 16 years with QBE in June 2025?
A. Yury
B. Kerrie
C. Nneka
D. Julia
C. Nneka
What training was scheduled for July 15, 2025?
A. TM+ Optimization
B. Navigating Difficult Conversations with Stakeholders
C. AI Audit Certification
D. Risk Culture Deep Dive
B. Navigating Difficult Conversations with Stakeholders
Which report emphasized the need for centralized documentation protocols?
A) Claims TPAO
B) Data Management
C) Accident & Health Captives
D) Whistleblower
A) Claims TPAO
Which of the following is a new focus area in the updated standards?
A. ESG reporting
B. Cybersecurity guidance
C. Tax compliance
D. External audit coordination
B. Cybersecurity guidance
What must be included in the final audit report if management disagrees with findings?
A. A separate memo
B. A dissenting opinion
C. A revised issue rating
D. A risk acceptance form
B. A dissenting opinion
Which two auditors are currently having major home renovations done?
A. Eric, Bill
B. Duk Yo, Rachel
C. Yury, Julia
D. Eric, Yury
D. Eric, Yury
What was the deadline for completing the Data Literacy Professional Track in DataCamp?
A. May 30, 2025
B. June 30, 2025
C. July 15, 2025
D. April 1, 2025
B. June 30, 2025
Which audit engagement was rated "Unsatisfactory" in the 2024 Audit Plan?
A. NAO Crop – Private Product Underwriting
B. Shadow IT
C. Financial Lines Underwriting – Management Liability
D. Investments
B. Shadow IT
What is a key enhancement in the new standards related to quality assurance?
A. Elimination of external assessments
B. Continuous improvement through implementation considerations
C. Mandatory annual certification
D. Outsourcing of audit reviews
B. Continuous improvement through implementation considerations
Which of the following would be considered a material financial impact under the inherent risk rating?
A. USD 5,000
B. USD 15 million
C. USD 30 million
D. USD 50 million
D. USD 50 million
Which team member was recognized for joining the Workability Employee Network as Co-Chair?
A. Kerrie Carter
B. Julia Paromchik
C. Rachel Dennis
D. Duk Yo An
B. Julia Paromchik
What is the name of QBE’s new brand initiative mentioned in June 2025?
A. QBE Forward
B. At the Heart of It
C. QBE Together
D. Brand Refresh
B. At the Heart of It
What platform is used for whistleblower reporting at QBE?
A) EthicsLine
B) NAVEX EthicsPoint
C) SpeakUp Portal
D) Integrity Hub
What strategic shift is emphasized in the new standards regarding the role of internal audit?
A. Internal audit should focus solely on financial controls
B. Internal audit is positioned as a strategic business partner
C. Internal audit must report directly to external regulators
D. Internal audit should avoid involvement in governance
B. Internal audit is positioned as a strategic business partner
What must be done when an auditor identifies a potential impairment to objectivity?
A. Continue the audit with caution
B. Disclose to the Engagement Manager and Divisional Head of Audit
C. Notify the external auditors
D. Submit a formal resignation
B. Disclose to the Engagement Manager and Divisional Head of Audit
How many people joined the GIA function globally in 2025?
**Bonus of 100 if you can name at least 3 of the new joiners
A. 3
B. 4
C. 5
D. 6
C. 5
Scott Coulter, Jed Liban, Bill Ober, Balsi Tabanda, Daryl A. Montalbo
Which of the following is NOT listed as an AI COE focus area for 2025?
A. Development of GIA Chatbot
B. Integration with TM+
C. Copilot Wave 2 rollout
D. AI Governance Framework
B. Integration with TM+
What was a key issue in the Global Investigations & Whistleblower Audit Report?
A) Lack of interview recordings
B) Inconsistent investigation frameworks
C) No whistleblower cases
D) Poor data quality in Asia
B) Inconsistent investigation frameworks