ASSIGNMENT QUESTIONS Define \"value proposition.\" Explain why it is important for internal auditors to have value proposition. Describe the three components of the internal audit value proposition set forth by the IIA Describe relationship between objectives and strategies. What is your foremost objective as a student in this course? Explain your strategy for achieving this objective Ina Icandoit has an 8:00 am class each day . The professor has instilled in the students the importance of getting to class on time, so Ina has made this one of her objective for the semester. What risk threaten the achievement of Ina's objective? What controls can Ina implement to mitigate LUMI. eg Prim Rose owns five flowers' shops in the suburbs of a large Midwestern city Each shop is managed by a different person. One of the test Prim performs to monitor the performance of his shops is a simple trend analysis of month to month sales*for each shop. Assume. that Prim's analysis of the reported sales performance for his flower shop on-tris street Shows that monthly sales remained relatively consistent from January through June. Should Prim be pleased or concerned abount the sales performance report for the shop on Iris Street over this six-month period? Explain ASSIGNMENT QUESTIONS 5. Discuss : a) The inherent personal qualities common among successful internal auditors b) The knowledge, skills and credentials entry- level internal auditors are expected to possess c) Additional knowledge, skills, and credentials in -charge internal auditors might be expected to possess d) Additional knowledge, skill, and credentials CAE's might expected to possess 6. Discuss the definition of internal auditing and how the wide scope of work represents a challenge for the internal auditor 7. List the types of services provided by internal audit shops and comment on the implication of the wide variety of these services 8. Explain why independence is important to the internal auditor and discuss the issues that should be considered in ensuring internal audit is sufficiently independent 9. Explain what makes a good auditor in terms of competencies and describe what the CAE may do to ensure these competencies are developed and maintained