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IIA IIA-CIA-Part1 Practice Test - Questions Answers

List of questions

Question 1

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Which of the following is the most effective way for internal auditors to determine whether ethical values are followed throughout the organization?

Review the organization's ethical value structure and reporting procedures.
Review the organization's ethical value structure and reporting procedures.
Review what the organization considers to be ethical behavior, such as the employee code of conduct.
Review what the organization considers to be ethical behavior, such as the employee code of conduct.
Review employee survey responses and follow up on those that suggest weaknesses in the ethical climate.
Review employee survey responses and follow up on those that suggest weaknesses in the ethical climate.
Review the organization's records to ensure all employees have signed statements that they will follow ethical practices.
Review the organization's records to ensure all employees have signed statements that they will follow ethical practices.
Suggested answer: B
asked 18/09/2024
Vipul Mehra
34 questions

Question 2

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Which of the following best describes the Standards requirement for collective proficiency of the internal audit activity?

The internal audit activity must have auditors on staff who collectively possess all of the competencies required to fulfill the internal audit plan,
The internal audit activity must have auditors on staff who collectively possess all of the competencies required to fulfill the internal audit plan,
All internal auditors on staff should possess the knowledge, skills, and competencies needed to perform any assurance engagement on the audit plan.
All internal auditors on staff should possess the knowledge, skills, and competencies needed to perform any assurance engagement on the audit plan.
The internal audit activity must possess or obtain the competencies needed to carry out their professional responsibilities, including providing relevant advice and recommendations.
The internal audit activity must possess or obtain the competencies needed to carry out their professional responsibilities, including providing relevant advice and recommendations.
Internal auditors collectively are responsible for ensuring that the internal audit activity has the competencies required to fulfill the internal audit plan.
Internal auditors collectively are responsible for ensuring that the internal audit activity has the competencies required to fulfill the internal audit plan.
Suggested answer: C
asked 18/09/2024
Jesus Ignacio Morales Vivancos
42 questions

Question 3

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A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annual snowfall for the coming winter.

Which of the following best describes this type of risk?

Residual.
Residual.
Net.
Net.
Inherent.
Inherent.
Accepted.
Accepted.
Suggested answer: C
asked 18/09/2024
DAVIDE MCGARR
37 questions

Question 4

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An internal auditor is performing testing to gather evidence regarding an organization's inventory account balance and is mindful of the possibility that the sample used might support the conclusion that the recorded account balance is not materially misstated when, in fact, it is. The auditor's concern best describes which of the following risks?

incorrect rejection risk
incorrect rejection risk
Incorrect acceptance risk.
Incorrect acceptance risk.
Tolerable misstatement risk.
Tolerable misstatement risk.
Anticipated misstatement risk
Anticipated misstatement risk
Suggested answer: B
asked 18/09/2024
Nicole Stevens
44 questions

Question 5

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Which of the following is the most appropriate way to ensure that a newly formed internal audit activity remains free from undue influence by management?

Appoint the chief audit executive as a member of the board.
Appoint the chief audit executive as a member of the board.
Adopt written policies and procedures for the internal audit activity, approved by the board.
Adopt written policies and procedures for the internal audit activity, approved by the board.
Ensure the chief audit executive reports administratively to the audit committee.
Ensure the chief audit executive reports administratively to the audit committee.
Establish the internal audit activity's position within the organization in an audit charter.
Establish the internal audit activity's position within the organization in an audit charter.
Suggested answer: D
asked 18/09/2024
inigo abeledo
39 questions

Question 6

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Which of the following statements is true with regard to services provided by the internal audit activity?

For consulting engagements, internal auditors do not need to be alert to control issues.
For consulting engagements, internal auditors do not need to be alert to control issues.
Assurance and consulting services have similar objectives.
Assurance and consulting services have similar objectives.
Internal auditors may not perform assurance and consulting roles at the same time.
Internal auditors may not perform assurance and consulting roles at the same time.
Both assurance and consulting engagements require a final engagement report
Both assurance and consulting engagements require a final engagement report
Suggested answer: D
asked 18/09/2024
Fernando Pereira dos Santos
39 questions

Question 7

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The internal audit activity completed its analysis of sample transactions to determine occurrences of double billings According to If A guidance, which of the following best demonstrates that internal auditors exercised due professional care during the review?

Internal auditors found no instances of double billing and concluded there were no significant risks in this area.
Internal auditors found no instances of double billing and concluded there were no significant risks in this area.
Internal auditors documented the scope and methodology of the data testing.
Internal auditors documented the scope and methodology of the data testing.
Internal auditors discussed with management how data is safeguarded.
Internal auditors discussed with management how data is safeguarded.
Internal auditors received formal performance feedback from the engagement supervisor.
Internal auditors received formal performance feedback from the engagement supervisor.
Suggested answer: B
asked 18/09/2024
Sasha Grib
44 questions

Question 8

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While auditing an organization's credit approval process, an internal auditor learns that the organization has made a large loan to another auditor's relative. Which course of action should the auditor take?

Proceed with the audit engagement, but do not include the relative's information.
Proceed with the audit engagement, but do not include the relative's information.
Have the chief audit executive and management determine whether the auditor should continue with the audit engagement.
Have the chief audit executive and management determine whether the auditor should continue with the audit engagement.
Disclose in the engagement final communication that the relative is a customer.
Disclose in the engagement final communication that the relative is a customer.
Immediately withdraw from the audit engagement.
Immediately withdraw from the audit engagement.
Suggested answer: B
asked 18/09/2024
Arnold Bronson TCHOFFO
44 questions

Question 9

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Which of the following is most likely to be considered a control weakness?

Vendor invoice payment requests are accompanied by a purchase order and receiving report.
Vendor invoice payment requests are accompanied by a purchase order and receiving report.
Purchase orders are typed by the purchasing department using prenumbered forms.
Purchase orders are typed by the purchasing department using prenumbered forms.
Buyers promptly update the official vendor listing as new supplier sources become known.
Buyers promptly update the official vendor listing as new supplier sources become known.
Department managers initiate purchase requests that must be approved by the plant superintendent.
Department managers initiate purchase requests that must be approved by the plant superintendent.
Suggested answer: C
asked 18/09/2024
Kaan K
37 questions

Question 10

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An internal audit activity includes in its audit reports the assertion that its work is performed in conformance with the International Standards for the Professional Practice of Internal Auditing ( Standards). A recent external quality assessment concluded that the internal audit activity had substantial deficiencies that impact its overall operations.

According to IIA guidance, which of the following is the most appropriate action for issuing future audit reports?

Refrain from indicating that the internal audit activity operates in conformance with the Standards until the chief audit executive confirms that the internal audit activity has addressed all areas of nonconformance and the audit committee has been notified.
Refrain from indicating that the internal audit activity operates in conformance with the Standards until the chief audit executive confirms that the internal audit activity has addressed all areas of nonconformance and the audit committee has been notified.
Refrain from indicating that the internal audit activity operates in conformance with the Standards until another external assessment confirms that the significant areas of nonconformance have been addressed.
Refrain from indicating that the internal audit activity operates in conformance with the Standards until another external assessment confirms that the significant areas of nonconformance have been addressed.
Indicate that the internal audit activity operates in partial conformance with the Standards t as the internal audit activity has a quality assurance and improvement program in place to address deficiencies and has met the requirement for conducting an external assessment.
Indicate that the internal audit activity operates in partial conformance with the Standards t as the internal audit activity has a quality assurance and improvement program in place to address deficiencies and has met the requirement for conducting an external assessment.
Update and reissue previous audit reports, removing the assertion that the internal audit activity operates in conformance with the Standards, and distribute them to ail parties who received the original reports.
Update and reissue previous audit reports, removing the assertion that the internal audit activity operates in conformance with the Standards, and distribute them to ail parties who received the original reports.
Suggested answer: A
asked 18/09/2024
Narender B
31 questions
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An engagement supervisor notes that an internal auditor usually documents and submits draft audit reports for review without giving the process owners the opportunity to state their position on the issues raised. How should the engagement supervisor respond?
Which of the following requests, if accepted by the internal audit activity, would impair its independence?
Regarding the chief audit executive (CAE). which ot the following is considered an impairment to the independence of the internal audit activity?
An Internal auditor accepted a role as an engagement supervisor on a highly specialized and technical engagement for which she did not have the expertise. Which of the following fundamental principles of The IIA's Code of Ethics did she violate?
Which of the following would best preserve the organizational independence of the internal audit activity?
Which should the internal auditor first consider when assessing fraud risks during an engagement?