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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 14

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Question 131

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In which of the following audits would the internal auditors most likely contribute to the assessment of organizational governance?

Question 132

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A chief audit executive (CAE) is considering hiring a candidate who most recently worked for a large public accounting firm What would be the CAE's most likely concern regarding this candidate*?

Question 133

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An internal audit activity uses a rotational program to recruit high-performing staff members from other parts of the organization One of these individuals is nearing the end of her four-year intern

Question 134

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

Question 135

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A global organization established a new internal audit activity and the recently hired chief audit executive needs to develop an internal audit manual for internal auditors Among the following polic

Question 136

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According to IIA guidance, which of the following actions is a chief audit executive required to take with regard to reporting the results of the quality assurance and improvement program?

Question 137

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Which of the following best describes the board's role in establishing effective organizational governance?

Question 138

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In a small organization, management is unable to achieve adequate segregation of duties for its cashhandling procedures Therefore hidden surveillance cameras were installed to monitor cash-handling

Question 139

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Which of the following statements is true regarding corporate social responsibility (CSR)?

Question 140

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An internal auditor assigned to a supplier management process engagement reviews the risk assessment with the process owner The auditor inquires about the risk response for potentially engaging unqu

Question 131

In which of the following audits would the internal auditors most likely contribute to the assessment of organizational governance?

An assessment of compliance of individual data protection procedures with data protection regulations

An assessment of profit and loss generated by financial assets and instruments in the past quarter

An assessment of the effectiveness of back-up procedures and execution of business recovery plans

An assessment of performance management practices and establishment of key performance indicators

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Question 132

A chief audit executive (CAE) is considering hiring a candidate who most recently worked for a large public accounting firm What would be the CAE's most likely concern regarding this candidate*?

Low-level audit expertise

Narrow industry experience

MPotential conflict of interest

Weak interpersonal skills

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An internal audit activity uses a rotational program to recruit high-performing staff members from other parts of the organization One of these individuals is nearing the end of her four-year internal audit rotation The chief audit executive assigned her to an assurance engagement in the business area she will be going into when she leaves the internal audit activity Which of the following statements is true regarding this scenario?

Accepting the assignment is a violation of internal audit independence

Accepting the assignment will improve competencies and develop relationships that will be needed in her next assignment

Accepting the assignment creates the appearance of an impairment to her professional judgment and detectivity

Accepting the assignment on the assurance engagement would be a breach of due professional care

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Question 134

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

Outsourcing the payroll function

Installing cameras in the mailroom

Exiting a product line

Insuring all fixed assets

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Question 135

A global organization established a new internal audit activity and the recently hired chief audit executive needs to develop an internal audit manual for internal auditors Among the following policies in the manual, which would facilitate internal auditors in upholding their objectivity?

Internal auditors shall attend professional workshops to refresh internal audit norms and concepts

Internal auditors' performance is synchronized with satisfaction ratings given by audit clients

Internal auditors take prior audit results into account when conducting current audit engagements

Internal auditors observe the audit client's expectations when scoping audit engagements

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Question 136

According to IIA guidance, which of the following actions is a chief audit executive required to take with regard to reporting the results of the quality assurance and improvement program?

Report external assessments upon completion of such assessments

Report external assessments at least annually

Report ongoing monitoring quarterly

Report post-engagement reviews at least once every five years

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Question 137

Which of the following best describes the board's role in establishing effective organizational governance?

The board is involved in approving operational policy

The board monitors key processes and procedures

The board has oversight responsibility for organizational resources

The board approves management's detailed plans and objectives

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Question 138

In a small organization, management is unable to achieve adequate segregation of duties for its cashhandling procedures Therefore hidden surveillance cameras were installed to monitor cash-handling activities Which of the following best describes this type of control?

Corrective control

Process-level control

Compensating control

Preventive control

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Question 139

Which of the following statements is true regarding corporate social responsibility (CSR)?

Many of the areas explored by CSR are normally included in an audit universe or annual audit plan

Despite significant corporate resources spent on CSR reporting investors generally do not rely on CSR information

Unlike many other areas of reporting responsibilities impacting stakeholders, CSR is largely voluntary

Typically operating management does not have a major role to play based on the public nature of reporting

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Question 140

An internal auditor assigned to a supplier management process engagement reviews the risk assessment with the process owner The auditor inquires about the risk response for potentially engaging unqualified third-party service providers The process owner responds that due diligence checks are undertaken to make sure that third parties possess requisite competencies before they are engaged Which of the following risk management techniques is the process owner using?

Risk avoidance

Risk reduction

Risk sharing

Risk acceptance

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Total 758 questions