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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 11

Question list

List of questions

Question 101

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Which of the following activities best demonstrates an internal auditor's commitment to developing professional competencies?

Question 102

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Which of the following offers the best evidence that the internal audit activity has achieved organizational independence?

Question 103

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The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the internal auditor was assigned to a

Question 104

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When would on-the-job training be more effective?

Question 105

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Which of the following strategies would be the most effective to share an organization's risk of losses through foreign currency transactions related to the accounts payable process?

Question 106

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Which of the following is the most appropriate reason for a chief audit executive to conduct an external assessment more frequently than five years?

Question 107

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The internal audit activity is responsible for which of the following actions related to an organization's internal controls?

Question 108

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According to IIA guidance, which of the following most appropriately justifies the CEO's decision that the internal audit activity shall be responsible for risk management and investigation at a mul

Question 109

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Which of the following is an example of a risk reduction strategy?

Question 110

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Which of the following would be included in quality assurance and improvement program (QAIP) reporting?

Question 101

Which of the following activities best demonstrates an internal auditor's commitment to developing professional competencies?

Requesting to be part of all engagements on the annual audit plan.

Attending a series of locally offered training courses.

Completing a skills assessment and development plan for targeted training needs,

Attending a webinar on how to use data analytics

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Question 102

Which of the following offers the best evidence that the internal audit activity has achieved organizational independence?

An independent third party has assessed the organization's system of internal controls to be adequate and effective,

The chief audit executive reports both functionally and administratively to the CEO.

The internal audit charter is drafted properly and approved by the appropriate parties.

The mission statement and strategy of the internal audit activity demonstrates alignment to organizational objectives.

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The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the internal auditor was assigned to an assurance engagement?

The assigned internal auditor must determine the objectives, scope, and techniques of the engagement.

The CAE must personally obtain the needed skills, knowledge, or other competencies if the internal auditor does not have them.

The assigned internal auditor must not assume management responsibilities while performing the engagement

The assigned internal auditor must maintain objectivity while performing the engagement.

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Question 104

When would on-the-job training be more effective?

When participants already have a certain degree of experience and knowledge.

When it makes up the largest part of the training budget.

When it includes ongoing feedback and coaching from experienced team members.

When it is standardized for the whole entire staff.

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Question 105

Which of the following strategies would be the most effective to share an organization's risk of losses through foreign currency transactions related to the accounts payable process?

Using a hedging strategy.

Implementing controls to follow up on deviations.

Purchasing liability insurance.

Purchasing foreign currency reserves.

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Question 106

Which of the following is the most appropriate reason for a chief audit executive to conduct an external assessment more frequently than five years?

Significant changes in the organization's accounting policies or procedures would warrant timely analysis and feedback.

More frequent external assessments can serve as an equivalent substitute for internal assessments.

The parent organization's internal audit activity agreed to perform biennial reciprocal external assessments to provide greater assurance at a reduced cost.

A change in senior management or internal audit leadership may change expectations and commitment to conformance.

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Question 107

The internal audit activity is responsible for which of the following actions related to an organization's internal controls?

Mitigating risks affecting achievement of organizational objectives.

Enabling opportunities affecting achievement of organizational objectives.

Analyzing and advising regarding costs versus benefits of control activities,

Attesting to fairness of financial statements.

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Question 108

According to IIA guidance, which of the following most appropriately justifies the CEO's decision that the internal audit activity shall be responsible for risk management and investigation at a multinational organization?

The recommendation of the parent office external auditors.

The provisions of the internal audit charter

The authority of the CEO.

The level of proficiency of the chief audit executive

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