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

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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'?

Question 182

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

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

Question 184

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

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 wit

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'?

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?

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?

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?

Question 190

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

Question 181

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 equipped to act as an expert witness in court

Fraud specialists are better able to properly apply due professional care

Fraud specialists are better at using crime scene investigation techniques

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Question 182

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

Undertake background checks for new employees as part of the hiring process

Establish an anonymous platform for reporting suspected unethical behaviors

Institute periodic educational training on expected ethical behaviors

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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 detective control

A preventive control

A directive control

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Question 184

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

Payroll fraud

Disbursement fraud

Corruption

Information misrepresentation

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Question 185

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 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 earned out by a team of the most experienced auditors overseen by the CAE

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Question 186

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

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

Arranging a free-of-charge picnic for all of the organization's employees and their family members

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Question 187

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

Develop a strategy for recruiting assigning, and training staff

Outsource complex engagements to an external service provider

Base the auditor evaluation process on the number of observations

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Question 188

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 detailed evaluation results of the external assessment

The competency and independence of the external assessment team

The timetable and schedule of the next external assessment

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Question 189

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 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

The sales department is responsible for determining the credit ratings of customers

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Question 190

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

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

Because it will create a conflict of interest relating to the control environment, senior management should not be consulted during the audit

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Total 758 questions