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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 15

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List of questions

Question 141

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According to IIA guidance, which of the following is true of the internal audit activity's quality assurance and improvement program? 1 Monitoring the internal audit activity's performance must be

Question 142

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An internal auditor was assigned to work in the procurement department for six months to gam mdepth knowledge about the procurement process Which of the following personnel development practices was

Question 143

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When a plant manager from within the organization is hired as a rotational internal auditor within the internal audit activity which area should he most likely be trained for immediately?

Question 144

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Which of the following is the best example of an ongoing independent monitoring activity'?

Question 145

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Which of the following would be considered an impairment to an internal auditor's objectivity when performing a review of the organization's procurement function'?

Question 146

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Which of the following would be a red flag for potential issues in the control environment?

Question 147

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Which of the following characteristics is typical of the internal audit activity?

Question 148

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According to IIA guidance, which of the following is required of an internal audit activity?

Question 149

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Which of the following should be implemented to promote independence of the internal audit activity?

Question 150

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A new company's risk management function is developing its cybersecurity risk management program Which of the following actions should be the first priority when developing the program?

Question 141

According to IIA guidance, which of the following is true of the internal audit activity's quality assurance and improvement program?

1 Monitoring the internal audit activity's performance must be ongoing 2 All aspects of the internal audit activity should be evaluated 3 The requirement for external assessments can be satisfied through self-assessments that are validated by an independent external party 4 The review of assurance services should be the primary focus

1 and 2 only

2 and 3 only

2 and 3

1 3 and 4

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Question 142

An internal auditor was assigned to work in the procurement department for six months to gam mdepth knowledge about the procurement process Which of the following personnel development practices was applied in this situation?

Cosourcing

Inbound rotation

Guest auditor

Outbound rotation

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Question 143

When a plant manager from within the organization is hired as a rotational internal auditor within the internal audit activity which area should he most likely be trained for immediately?

Industry knowledge

Project management

Leadership skills

Risk assessments

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Question 144

Which of the following is the best example of an ongoing independent monitoring activity'?

Management quality assurance activities

Internal audit fraud prevention and detection activities

Management and supervisory activities

External audit quality assurance activities

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Question 145

Which of the following would be considered an impairment to an internal auditor's objectivity when performing a review of the organization's procurement function'?

The internal auditor worked on the implementation of the accounting system within the organization before joining the internal audit activity last year

The internal auditor is part of a multidisciplinary team tasked to assist with a new project implementation checklist within the organization

The internal auditor worked as a sourcing specialist before joining the internal audit activity last year

The internal auditor participates in a cross-departmental team for information and data security within the organization

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Question 146

Which of the following would be a red flag for potential issues in the control environment?

Segregation of duties during preparation of the financial statements

Compensation structures that are based on commissions

A low rate of turnover in key financial positions

The presence of a whistleblower policy and fraud hotline

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Question 147

Which of the following characteristics is typical of the internal audit activity?

Serves third parties that need reliable financial information from audit engagements

Responds to the needs and desires of senior management and the board, but remains independent of areas under review

Ensures the organization complies with laws and regulations in the area under review

Is completely independent of senior management, the board and the area under review

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Question 148

According to IIA guidance, which of the following is required of an internal audit activity?

The internal audit activity should refrain from conducting an assurance engagement for which it lacks the necessary competencies or skills

The chief audit executive must decline a consulting engagement or obtain competent advice and assistance if internal auditors lack the necessary competencies or skills

The audit committee should ensure that the internal audit activity continuously improves its knowledge and skills in order to fulfill its responsibilities

In today's business climate which is dominated by technology and big data, it is imperative that each staff internal auditor has detailed knowledge about IT risks and technology-based audit techniques

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Question 149

Which of the following should be implemented to promote independence of the internal audit activity?

Internal auditors do not review an area where they previously worked

The internal audit charter is reviewed and updated annually

The chief audit executive reports functionally to the board

Management does not influence the consulting services provided by the internal audit activity

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Question 150

A new company's risk management function is developing its cybersecurity risk management program Which of the following actions should be the first priority when developing the program?

Start building a cybersecurity culture and set the desired behavior using a bottom-up approach

Determine the cybersecurity framework that will establish and report on the effectiveness of the program

Define the cybersecurity risk appetite and perform a cost-benefit analysis of the program

Raise cybersecurity awareness across various departments outside of the IT department

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Total 758 questions