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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 19

List of questions

Question 181

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Which of the following best describes why a chief audit executive might obtain the services of a fraud specialist to assist in a major fraud investigation'?

Fraud specialists are better at using computer-assisted audit techniques
Fraud specialists are better at using computer-assisted audit techniques
Fraud specialists are better equipped to act as an expert witness in court
Fraud specialists are better equipped to act as an expert witness in court
Fraud specialists are better able to properly apply due professional care
Fraud specialists are better able to properly apply due professional care
Fraud specialists are better at using crime scene investigation techniques
Fraud specialists are better at using crime scene investigation techniques
Suggested answer: C
asked 18/09/2024
ENET SOLUTIONS LOGICOM
42 questions

Question 182

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Which of the following actions should an organization take to detect an emerging risk of potential fraud?

Adopt reward and recognition programs that promote good behaviors
Adopt reward and recognition programs that promote good behaviors
Undertake background checks for new employees as part of the hiring process
Undertake background checks for new employees as part of the hiring process
Establish an anonymous platform for reporting suspected unethical behaviors
Establish an anonymous platform for reporting suspected unethical behaviors
Institute periodic educational training on expected ethical behaviors
Institute periodic educational training on expected ethical behaviors
Suggested answer: C
asked 18/09/2024
Anass Chadid ansari
45 questions

Question 183

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Senior management purchased surveillance cameras and installed them over a door that provides entry to an area where according to a recent internal audit report, hazardous materials exist and there is a high risk of explosion Which type of control was implemented in this situation?

A corrective control
A corrective control
A detective control
A detective control
A preventive control
A preventive control
A directive control
A directive control
Suggested answer: B
asked 18/09/2024
Pieter Louw
46 questions

Question 184

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Which of the following fraud schemes is often an off-book fraud*?

Payroll fraud
Payroll fraud
Disbursement fraud
Disbursement fraud
Corruption
Corruption
Information misrepresentation
Information misrepresentation
Suggested answer: C
asked 18/09/2024
Nghia To Duc
57 questions

Question 185

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The chief audit executive (CAE) of a large organization has been asked by the board to assume responsibility for risk management and compliance operations, both of which are distinct departments within the organization and are subject to periodic audits by the internal audit activity In regards to future audits of these functions which of the following approaches would be most appropriate?

Audits of risk management and compliance functions should be overseen by a competent external assurance provider
Audits of risk management and compliance functions should be overseen by a competent external assurance provider
Audits of risk management and compliance functions should be overseen by a senior audit manager within the internal audit activity other than the CAE
Audits of risk management and compliance functions should be overseen by a senior audit manager within the internal audit activity other than the CAE
Audits of risk management and compliance functions should be conducted by internal auditors under the supervision of management from both functions
Audits of risk management and compliance functions should be conducted by internal auditors under the supervision of management from both functions
Audits of risk management and compliance functions should be earned out by a team of the most experienced auditors overseen by the CAE
Audits of risk management and compliance functions should be earned out by a team of the most experienced auditors overseen by the CAE
Suggested answer: A
asked 18/09/2024
Opeyemi Oguntodu
41 questions

Question 186

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The management team of an agricultural organization has prioritized corporate social responsibility (CSR) initiatives. Which of the following would be considered a CSR activity'?

Offering a one-off donation to an environmental charity for its expansion efforts
Offering a one-off donation to an environmental charity for its expansion efforts
Organizing organization volunteers to provide periodic plantation skill sharing to farmers
Organizing organization volunteers to provide periodic plantation skill sharing to farmers
Providing special year-end monetary bonuses to the organization's employees at all levels
Providing special year-end monetary bonuses to the organization's employees at all levels
Arranging a free-of-charge picnic for all of the organization's employees and their family members
Arranging a free-of-charge picnic for all of the organization's employees and their family members
Suggested answer: B
asked 18/09/2024
Himal Rai
46 questions

Question 187

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According to IIA guidance, which of the following best demonstrates how the chief audit executive may ensure that due professional care is applied?

Establish policies and procedures concerning the engagement process
Establish policies and procedures concerning the engagement process
Develop a strategy for recruiting assigning, and training staff
Develop a strategy for recruiting assigning, and training staff
Outsource complex engagements to an external service provider
Outsource complex engagements to an external service provider
Base the auditor evaluation process on the number of observations
Base the auditor evaluation process on the number of observations
Suggested answer: A
asked 18/09/2024
Wilker Aguiar
50 questions

Question 188

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Upon completion of an external quality assessment, which of the following would the chief audit executive be required to report to the board?

The total time spent to accomplish the external assessment
The total time spent to accomplish the external assessment
The detailed evaluation results of the external assessment
The detailed evaluation results of the external assessment
The competency and independence of the external assessment team
The competency and independence of the external assessment team
The timetable and schedule of the next external assessment
The timetable and schedule of the next external assessment
Suggested answer: B
asked 18/09/2024
Alvaro Campos
41 questions

Question 189

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An auditor for a large wholesaler is evaluating the controls over the approval and oversight of credit sales. Which of the following procedures would be a control weakness?

The credit department is responsible for approving shipments to all customers
The credit department is responsible for approving shipments to all customers
The finance committee of the board of directors periodically reviews credit standards
The finance committee of the board of directors periodically reviews credit standards
Customers who fail to meet credit requirements must pay cash for shipments upon delivery
Customers who fail to meet credit requirements must pay cash for shipments upon delivery
The sales department is responsible for determining the credit ratings of customers
The sales department is responsible for determining the credit ratings of customers
Suggested answer: D
asked 18/09/2024
Kurt Onal
35 questions

Question 190

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Which of the following statements is true regarding organizational culture and an audit of the control environment?

For multinational organizations it is important to ensure that the organizational culture is consistent at all locations
For multinational organizations it is important to ensure that the organizational culture is consistent at all locations
Because the chief audit executive (CAE) is part of the organizational culture, external auditors should be engaged to evaluate the control environment
Because the chief audit executive (CAE) is part of the organizational culture, external auditors should be engaged to evaluate the control environment
If there are unresolved scope restrictions, the CAE should consider whether to pursue the audit and note the scope restrictions in the audit report
If there are unresolved scope restrictions, the CAE should consider whether to pursue the audit and note the scope restrictions in the audit report
Because it will create a conflict of interest relating to the control environment, senior management should not be consulted during the audit
Because it will create a conflict of interest relating to the control environment, senior management should not be consulted during the audit
Suggested answer: C
asked 18/09/2024
Dustin Roberts
49 questions
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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?