6. Legal, Policy, and Compliance

Compliance Auditing — Quiz

Test your understanding of compliance auditing with 5 practice questions.

Practice Questions

Question 1

A university's internal audit function identifies a systemic weakness in its procurement process that could lead to non-compliance with federal grant regulations. Which of the following actions represents the most effective initial step for the internal audit team to take?

Question 2

During a compliance monitoring review, a university discovers that several departments are consistently failing to complete mandatory ethics training. What is the most appropriate next step to ensure continuous improvement in compliance?

Question 3

A university's compliance report highlights a significant increase in data privacy breaches over the past year. Which of the following metrics would be most critical to include in a subsequent report to demonstrate the effectiveness of corrective actions?

Question 4

A university implements a new policy requiring annual review of all departmental compliance procedures. Which of the following best demonstrates a commitment to continuous improvement in compliance auditing?

Question 5

A university's internal audit uncovers a pattern of financial transactions that appear to bypass established approval processes, raising concerns about potential fraud. What is the most critical immediate action for the internal audit function?