Home / IIA / IIA-CIA-Part1

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

Question list

List of questions

Question 11

(0)

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

Question 12

(0)

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

Question 13

(0)

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 eff

Question 14

(0)

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

Question 15

(0)

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

Question 16

(0)

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

Question 17

(0)

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

Question 18

(0)

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

Question 19

(0)

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

Question 20

(0)

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,

Question 11

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 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 provide examples of inappropriate business relationships.

Show Answer Comment (0)

Question 12

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 quality of work performed by the internal audit activity is periodically reviewed,

The organization establishes effective governing body oversight,

Audit assignments are rotated among internal audit staff

Show Answer Comment (0)

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.

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.

Anti-fraud and whistleblowing policies should be implemented and their importance should be clearly stated.

Show Answer Comment (0)

Question 14

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 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 has been in existence fewer than five years, but periodic selfassessments were conducted.

Show Answer Comment (0)

Question 15

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.

Decline the engagement request.

Allow the internal auditors to acquire the needed skills while performing the engagement.

Supervise the assigned internal auditors throughout the engagement.

Show Answer Comment (0)

Question 16

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 supervisor had no significant comments in the supervisory review.

The audit procedures were systematically planned, executed, and documented.

The engagement objectives were designed to assist the engagement client.

Show Answer Comment (0)

Question 17

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

Residual risk.

Net risk.

Inherent risk.

Underlying risk.

Show Answer Comment (0)

Question 18

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.

Discussions with senior management relating to a new revenue stream.

Mitigating controls implemented by the engagement supervisor

Project manager planned hours versus time spent for all prior year projects

Show Answer Comment (0)