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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 10

Question list

List of questions

Question 91

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Which of the following situations is most likely to heighten an internal auditor's professional skepticism regarding potential fraud?

Question 92

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Which of the following situations undermines the independence of the internal audit activity?

Question 93

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According to IIA guidance, which of the following statements regarding the internal audit charter is true?

Question 94

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During a payroll audit, the internal auditor discovered that several individuals who have the same position classification as he are earning a significantly higher salary. The auditor noted the name

Question 95

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Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?

Question 96

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Which of the following best demonstrates internal auditors performing their work with proficiency?

Question 97

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Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?

Question 98

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Which of the following situations best describes an internal auditor who may have violated the IIA Code of Ethics principle of confidentiality?

Question 99

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For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?

Question 100

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Which of the following must be in existence as a precondition to developing an effective system of internal controls?

Question 91

Which of the following situations is most likely to heighten an internal auditor's professional skepticism regarding potential fraud?

A procurement manager does not have the expected academic credentials for his position.

A salesperson frequently complains about the organization's policy on sales commissions.

The accounts payable supervisor has requested advances against her monthly salary on several occasions.

A financial accountant is absent from work frequently due to regular medical procedures.

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Question 92

Which of the following situations undermines the independence of the internal audit activity?

The internal audit activity is responsible for the company's risk management function, and its head manager reports to the chief audit executive.

A senior member of the internal audit activity once worked in the corporate finance department.

The organization's CEO reviews the internal audit activity's annual budget per the organization's policies and procedures.

The internal audit activity often uses management's risk profile to build its own risk profile for annual planning.

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Question 93

According to IIA guidance, which of the following statements regarding the internal audit charter is true?

The nature of consulting services typically is not included in the charter.

The chief audit executive must formally review the charter at least once a year

The nature of assurances provided to parties outside of the organization typically is not included in the charter.

The charter typically defines the internal audit activity's position within the organization.

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During a payroll audit, the internal auditor discovered that several individuals who have the same position classification as he are earning a significantly higher salary. The auditor noted the names and amounts of each, and he planned to prepare a request to the chief audit executive for a salary increase based on this information. Which of the following IIA Code of Ethics principles was violated in this scenario?

Competency.

Objectivity,

Integrity.

Confidentiality

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Question 95

Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?

The internal assessment results should be discussed once every five years,

The rating conclusions and the impact from results of the external assessment should be explained,

The results of the external assessment should be discussed every seven years,

The qualifications and independence of the internal assessment team should be discussed

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Question 96

Which of the following best demonstrates internal auditors performing their work with proficiency?

Internal auditors meet with operational management at each phase of the audit process.

Internal auditors adhere to The IIA's Code of Ethics.

Internal auditors work collaboratively with their engagement team.

Internal auditors complete a program of continuing professional development.

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Question 97

Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?

Internal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization's control processes.

Quality assessments focus on the internal audit activity's structure, relationships with stakeholders, compliance with the Standards, and internal audit staff proficiency.

In order to comply with the Standards, the internal audit activity must obtain an objective assessment of its processes and function at least once a year.

Internal auditors completing internal assessments must demonstrate certification to perform quality assessments.

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Question 98

Which of the following situations best describes an internal auditor who may have violated the IIA Code of Ethics principle of confidentiality?

The auditor intentionally omitted from his resume that he was fired from his previous job for fraud allegations,

The auditor decided not to notify her supervisor that her brother-in-law was responsible for the project the auditor was expected to evaluate.

The auditor asked the audit client to copy requested files to her personal unencrypted memory stick because it was faster and more convenient.

The auditor was assigned to analyze the organization's incentive program and spent long hours reviewing other employees' bonuses,

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Question 99

For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?

Chair should learn the current organizational culture of the company.

Chair should learn the current risk management system of the company.

Chair should determine the appropriateness of the current strategic risks.

Chair should gain an understanding of the needs of key stakeholders.

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