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

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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?

A procurement manager does not have the expected academic credentials for his position.
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.
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.
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.
A financial accountant is absent from work frequently due to regular medical procedures.
Suggested answer: B
asked 18/09/2024
Chukwuebuka Ogbonna
47 questions

Question 92

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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.
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.
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 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.
The internal audit activity often uses management's risk profile to build its own risk profile for annual planning.
Suggested answer: A
asked 18/09/2024
Gage Adams
37 questions

Question 93

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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 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 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 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.
The charter typically defines the internal audit activity's position within the organization.
Suggested answer: D
asked 18/09/2024
Kyle Norton
43 questions

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 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.
Competency.
Objectivity,
Objectivity,
Integrity.
Integrity.
Confidentiality
Confidentiality
Suggested answer: D
asked 18/09/2024
Youssef El Akhal
40 questions

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?

The internal assessment results should be discussed once every five years,
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 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 results of the external assessment should be discussed every seven years,
The qualifications and independence of the internal assessment team should be discussed
The qualifications and independence of the internal assessment team should be discussed
Suggested answer: B
asked 18/09/2024
Thomas Spring
30 questions

Question 96

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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 meet with operational management at each phase of the audit process.
Internal auditors adhere to The IIA's Code of Ethics.
Internal auditors adhere to The IIA's Code of Ethics.
Internal auditors work collaboratively with their engagement team.
Internal auditors work collaboratively with their engagement team.
Internal auditors complete a program of continuing professional development.
Internal auditors complete a program of continuing professional development.
Suggested answer: C
asked 18/09/2024
Dimitri Alvarez Ruiz
49 questions

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?

Internal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization's control processes.
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.
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.
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.
Internal auditors completing internal assessments must demonstrate certification to perform quality assessments.
Suggested answer: A
asked 18/09/2024
Claudious Utete
45 questions

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?

The auditor intentionally omitted from his resume that he was fired from his previous job for fraud allegations,
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 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 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,
The auditor was assigned to analyze the organization's incentive program and spent long hours reviewing other employees' bonuses,
Suggested answer: D
asked 18/09/2024
Roger Perez Espitia
42 questions

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?

Chair should learn the current organizational culture of the company.
Chair should learn the current organizational culture of the company.
Chair should learn the current risk management system 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 determine the appropriateness of the current strategic risks.
Chair should gain an understanding of the needs of key stakeholders.
Chair should gain an understanding of the needs of key stakeholders.
Suggested answer: A
asked 18/09/2024
Beatriz Mejia
50 questions

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?

A monitoring process,
A monitoring process,
A risk assessment process.
A risk assessment process.
A strategic objective-setting process.
A strategic objective-setting process.
An information and communication process.
An information and communication process.
Suggested answer: B
Explanation:

Topic 2, Exam Pool B

asked 18/09/2024
Nogueira Elder
44 questions
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Related questions

A new chief audit executive wants to develop a formal internal control framework for her organization. She uses globally accepted frameworks as a guide. Which of the following would she likely find critical in creating the new framework for her organization?
A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed an internal assessment. To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?
Which of the following statements is true regarding risk management frameworks?
To meet the resource requirements of this year's internal audit plan, the chief audit executive (CAE) has recruited additional staff auditors, including an employee who resigned as a senior supervisor from the accounts payable department two months ago. There is a scheduled accounts payable review that the CAE wants to start within the next five months. Which approach should the CAE take, knowing the expertise of his new recruit in the area intended to be audited?
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?