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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 2

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List of questions

Question 11

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Which of the following types of policies best helps promote objectivity in the interna! audit activity's work?

Policies that are distributed to all members of the internal audit activity and require a signed acknowledgment,
Policies that are distributed to all members of the internal audit activity and require a signed acknowledgment,
Policies that match internal auditors' performance with feedback from management of the area under review.
Policies that match internal auditors' performance with feedback from management of the area under review.
Policies that keep internal auditors in areas where they have vast audit expertise.
Policies that keep internal auditors in areas where they have vast audit expertise.
Policies that provide examples of inappropriate business relationships.
Policies that provide examples of inappropriate business relationships.
Suggested answer: D
asked 18/09/2024
DAVIDE MCGARR
43 questions

Question 12

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According to NA guidance, which of the following conditions would enhance the independence of the internal audit activity?

The organizational culture rewards critical and objective thinking.
The organizational culture rewards critical and objective thinking.
The quality of work performed by the internal audit activity is periodically reviewed,
The quality of work performed by the internal audit activity is periodically reviewed,
The organization establishes effective governing body oversight,
The organization establishes effective governing body oversight,
Audit assignments are rotated among internal audit staff
Audit assignments are rotated among internal audit staff
Suggested answer: C
asked 18/09/2024
NAKAYAMA HIROYUKI
45 questions

Question 13

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A series of incidents over the past year reveals several members of senior management possess a limited understanding of the concept and impact of fraud. Which of the following would be the most effective way to approach this issue?

The board should ask the internal audit activity to perform additional assurance engagements.
The board should ask the internal audit activity to perform additional assurance engagements.
A comprehensive fraud risk assessment and management program should be carried out.
A comprehensive fraud risk assessment and management program should be carried out.
The organization should conduct training sessions on fraud, which should be attended by senior management and staff.
The organization should conduct training sessions on fraud, which should be attended by senior management and staff.
Anti-fraud and whistleblowing policies should be implemented and their importance should be clearly stated.
Anti-fraud and whistleblowing policies should be implemented and their importance should be clearly stated.
Suggested answer: C
asked 18/09/2024
Aung Hain Htet
31 questions

Question 14

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In which of the following situations may the internal audit activity report conformance with the Standards?

An internal audit activity has been in existence at least five years and has not completed an external assessment,
An internal audit activity has been in existence at least five years and has not completed an external assessment,
An internal auditor was assigned to an audit engagement but did not meet individual objectivity requirements.
An internal auditor was assigned to an audit engagement but did not meet individual objectivity requirements.
The internal audit activity prepared an internal audit plan that was not risk-based.
The internal audit activity prepared an internal audit plan that was not risk-based.
The internal audit activity has been in existence fewer than five years, but periodic selfassessments were conducted.
The internal audit activity has been in existence fewer than five years, but periodic selfassessments were conducted.
Suggested answer: D
asked 18/09/2024
Morris Djavaheri
34 questions

Question 15

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A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the

CAE should take regarding the request?

Assign the engagement to a more senior internal auditor.
Assign the engagement to a more senior internal auditor.
Decline the engagement request.
Decline the engagement request.
Allow the internal auditors to acquire the needed skills while performing the engagement.
Allow the internal auditors to acquire the needed skills while performing the engagement.
Supervise the assigned internal auditors throughout the engagement.
Supervise the assigned internal auditors throughout the engagement.
Suggested answer: B
asked 18/09/2024
Yedron Rojas Acosta
51 questions

Question 16

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Which of the following statements best demonstrates application of due professional care during an assurance engagement?

The engagement detected irregularities and noncompliance instances.
The engagement detected irregularities and noncompliance instances.
The engagement supervisor had no significant comments in the supervisory review.
The engagement supervisor had no significant comments in the supervisory review.
The audit procedures were systematically planned, executed, and documented.
The audit procedures were systematically planned, executed, and documented.
The engagement objectives were designed to assist the engagement client.
The engagement objectives were designed to assist the engagement client.
Suggested answer: A
asked 18/09/2024
Cristi Savin
54 questions

Question 17

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Which of the following best describes the risk contained in an initial public offering for a new stock?

Residual risk.
Residual risk.
Net risk.
Net risk.
Inherent risk.
Inherent risk.
Underlying risk.
Underlying risk.
Suggested answer: C
asked 18/09/2024
Jose Alfaro
43 questions

Question 18

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An internal auditor is updating the risk register for risks identified during a recent organizational risk assessment. According to the Standards, which of the following would the auditor include in the risk register?

Management's acceptance of inadequate controls for cybersecurity risk.
Management's acceptance of inadequate controls for cybersecurity risk.
Discussions with senior management relating to a new revenue stream.
Discussions with senior management relating to a new revenue stream.
Mitigating controls implemented by the engagement supervisor
Mitigating controls implemented by the engagement supervisor
Project manager planned hours versus time spent for all prior year projects
Project manager planned hours versus time spent for all prior year projects
Suggested answer: A
asked 18/09/2024
GUY XAVIER DONGMO FAPONG
45 questions

Question 19

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Which of the following would be considered a monitoring activity in organization wide risk management?

Validate the results of management's self-assessment.
Validate the results of management's self-assessment.
Perform reviews of personnel.
Perform reviews of personnel.
Maintain rigorous and comprehensive documentation.
Maintain rigorous and comprehensive documentation.
Obtain authorizations and signatures.
Obtain authorizations and signatures.
Suggested answer: A
asked 18/09/2024
Foo goo
50 questions

Question 20

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Which of the following documents are internal auditors most likely to be asked to sign as a demonstration of due professional care?

A description of their job responsibilities,

A non-disclosure agreement.
A non-disclosure agreement.
An annual declaration of commitment to
An annual declaration of commitment to
The IIA s Code of Ethics.
The IIA s Code of Ethics.
The internal audit charter.
The internal audit charter.
Suggested answer: B
asked 18/09/2024
Dirk Prinsloo
40 questions
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Related questions

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?