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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 18

Question list

List of questions

Question 171

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According to IIA guidance, which of the following statements is true regarding internal auditors' knowledge, skills and other competencies?

Question 172

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Which of the following describes a primary responsibility for the internal audit activity in helping management maintain effective controls?

Question 173

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Which of the following best demonstrates conformance with the Standards regarding the internal audit activity's purpose authority, and responsibility?

Question 174

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Which of the following threatens internal audit objectivity'?

Question 175

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The internal audit activity is undergoing a self-assessment as part of its quality assurance and improvement program Which of the following observations must be addressed in order for the internal a

Question 176

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Which of the following is the best way for an internal auditor to demonstrate due professional care?

Question 177

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An organization's senior management team is awarding substantial bonuses if employees meet financial targets. Which of the following motivators to potentially commit fraud would become most likely i

Question 178

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Which of the following is an example of an entity-level control pertaining to the finance area of an organization'?

Question 179

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Which of the following disclosures must the chief audit executive (CAE) include when communicating the results of the quality assurance and improvement program to senior management and the board?

Question 180

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Which of the following statements is true regarding the quality assurance and improvement program (QAIP)?

Question 171

According to IIA guidance, which of the following statements is true regarding internal auditors' knowledge, skills and other competencies?

The chief audit executive (CAE) must obtain competent advice and assistance if the internal audit activity lacks the knowledge, skills, or other competencies needed to complete the audit engagement

Internal auditors must have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by the organization and should have the expertise of a fraud investigator

Internal auditors need to have basic knowledge of key IT risks and controls and available technology-based audit techniques in order to perform their assigned work

The CAE must refuse a consulting engagement if the internal audit activity lacks the knowledge, skills, or other competencies needed to perform all or part of the engagement

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Question 172

Which of the following describes a primary responsibility for the internal audit activity in helping management maintain effective controls?

Promoting continuous evaluation

Promoting continuous monitoring

Promoting continuous improvement

Promoting continuous reporting

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Question 173

Which of the following best demonstrates conformance with the Standards regarding the internal audit activity's purpose authority, and responsibility?

Discussion and formal presentation of the internal audit charter to the board of directors

Certification by external auditors on the purpose, authority and responsibility of the internal audit activity

Approval of senior management that the internal audit activity is functioning as originally designed

Self-assessment of the internal audit activity completed by the chief audit executive

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Question 174

Which of the following threatens internal audit objectivity'?

Internal auditors are expected by senior management to identify a minimum of five major control weaknesses in each area audited

Internal auditors are prevented from accessing information necessary to undertake their audit engagements

The chief audit executive reports directly to the chief financial officer who previously led the internal audit activity

The CEO requests the internal audit activity develop a charter that clearly delineates its purpose and responsibilities within the organization

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The internal audit activity is undergoing a self-assessment as part of its quality assurance and improvement program Which of the following observations must be addressed in order for the internal audit activity to achieve conformance with the Standards?

The internal audit charter does not identify which audit services are outsourced

The internal audit charter has not been reviewed by the legal department

The internal audit charter has not been approved by the board within the past year

The internal audit charter does not describe the authority of the internal audit activity

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Question 176

Which of the following is the best way for an internal auditor to demonstrate due professional care?

Conduct an audit to the same extent that another prudent auditor would under similar circumstances

Seek feedback from the engagement supervisor during the engagement

Execute internal audit work in such a manner as to provide absolute assurance of compliance

Request and receive client feedback surveys during the engagement

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Question 177

An organization's senior management team is awarding substantial bonuses if employees meet financial targets. Which of the following motivators to potentially commit fraud would become most likely in this scenario?

Opportunity

Pressure

Rationalization

Justification

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Question 178

Which of the following is an example of an entity-level control pertaining to the finance area of an organization'?

Key account reconciliation such as bank reconciliation

Segregation of duties between posting and reviewing journal entnes

A signing authority matrix for spending approvals

The establishment of a finance and audit committee

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Question 179

Which of the following disclosures must the chief audit executive (CAE) include when communicating the results of the quality assurance and improvement program to senior management and the board?

Authority and responsibility of the internal audit activity

Hours and sources of continuing professional education

Scope and frequency of both the internal and external assessments

independence and objectivity impairments of the CAE

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