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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 21

List of questions

Question 201

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Which of the following activities aligns with The IIA's Core Principles for the Professional Practice of Internal Auditing?

The chief audit executive reports to senior management for compensation decisions and communications of audit results to the board
The chief audit executive reports to senior management for compensation decisions and communications of audit results to the board
Final reports from consulting engagements show the summary of findings, and the internal auditor's advice is clearly distinct and separate from management's decisions
Final reports from consulting engagements show the summary of findings, and the internal auditor's advice is clearly distinct and separate from management's decisions
Internal auditors rotate through operations and management positions then perform audit engagements on these areas to ensure timely application of their knowledge
Internal auditors rotate through operations and management positions then perform audit engagements on these areas to ensure timely application of their knowledge
Due to limited resources, internal auditors prioritize assurance on internal controls and risk management and exclude evaluating governance processes, which are deemed outside of their core responsibilities
Due to limited resources, internal auditors prioritize assurance on internal controls and risk management and exclude evaluating governance processes, which are deemed outside of their core responsibilities
Suggested answer: D
asked 18/09/2024
M S
38 questions

Question 202

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Which of the following techniques should an internal auditor use in order to conduct an effective interview?

Use technical language to establish credibility with the employee being interviewed
Use technical language to establish credibility with the employee being interviewed
Avoid straightforward questions to make the person being interviewed think before answering
Avoid straightforward questions to make the person being interviewed think before answering
Prepare the next question while the interviewee is responding to demonstrate preparedness
Prepare the next question while the interviewee is responding to demonstrate preparedness
Appear confident but not arrogant during the interview to show professionalism
Appear confident but not arrogant during the interview to show professionalism
Suggested answer: A
asked 18/09/2024
Tony Hardyanto
35 questions

Question 203

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Which of the following is a consulting service the internal audit activity can perform with respect to the organization's risk management'?

Delivering assurance on the risk management system
Delivering assurance on the risk management system
Facilitating risk assessment workshops
Facilitating risk assessment workshops
Evaluating principal risk reporting
Evaluating principal risk reporting
Deciding on the appropriate risk response
Deciding on the appropriate risk response
Suggested answer: B
asked 18/09/2024
Chris Morris
44 questions

Question 204

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According to IIA guidance, which of the following actions best demonstrates that due professional care has been considered by the internal audit activity when conducting a review of an organization's assets?

Determining whether any opportunity exists for senior executives to misappropriate property or funds
Determining whether any opportunity exists for senior executives to misappropriate property or funds
Planning and executing fieldwork In a complete and timely manner to identify all significant risks
Planning and executing fieldwork In a complete and timely manner to identify all significant risks
Verifying whether the board of directors has implemented effective internal controls
Verifying whether the board of directors has implemented effective internal controls
Having senior management determine whether the degree of work planned is sufficient to meet engagement objectives
Having senior management determine whether the degree of work planned is sufficient to meet engagement objectives
Suggested answer: B
asked 18/09/2024
Janina Loveria
47 questions

Question 205

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Which of the following are considered root causes of fraud?

Rationalization and corruption
Rationalization and corruption
Corruption and opportunity
Corruption and opportunity
Opportunity and perceived need
Opportunity and perceived need
Perceived need and weak internal controls
Perceived need and weak internal controls
Suggested answer: C
asked 18/09/2024
Bartosz Szewczyk
41 questions

Question 206

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A newly appointed chief audit executive (CAE) is tasked with creating a new internal audit activity within the organization. Which of the following would the CAE need to include in the new internal audit charter?

The requirement to provide an annual cost analysis that justifies having an internal audit activity
The requirement to provide an annual cost analysis that justifies having an internal audit activity
The specific engagements that the internal audit activity will perform for the organization
The specific engagements that the internal audit activity will perform for the organization
The board s oversight role and responsibilities pertaining to the internal audit activity
The board s oversight role and responsibilities pertaining to the internal audit activity
The relevant regulations that will guide the internal audit activity's regulatory compliance assessments
The relevant regulations that will guide the internal audit activity's regulatory compliance assessments
Suggested answer: D
asked 18/09/2024
Yuri Shpovlov
44 questions

Question 207

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An internal auditor has completed an assurance engagement Which of the following is most likely true regarding the engagement?

During audit planning, the auditor provided the client with the scope of the engagement for their agreement
During audit planning, the auditor provided the client with the scope of the engagement for their agreement
The results of the engagement were included in a written report that was issued to the client who requested the engagement
The results of the engagement were included in a written report that was issued to the client who requested the engagement
During audit planning, the auditor determined that the engagement scope would include a review of the security and privacy of payroll records
During audit planning, the auditor determined that the engagement scope would include a review of the security and privacy of payroll records
The client requested the review of a new payroll system in order to improve the security of the system
The client requested the review of a new payroll system in order to improve the security of the system
Suggested answer: C
asked 18/09/2024
vladimir nezgoda
42 questions

Question 208

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According to IIA guidance, which of the following statements is true regarding risk management in an organization?

The risk management function has the sole responsibility for identifying and managing risks in all departments
The risk management function has the sole responsibility for identifying and managing risks in all departments
Risk management is a core responsibility of the internal audit activity
Risk management is a core responsibility of the internal audit activity
The internal audit activity should consider the organization's maturity, structure, and the competitive environment to establish the organization's risk appetite
The internal audit activity should consider the organization's maturity, structure, and the competitive environment to establish the organization's risk appetite
The internal audit activity may use a risk management or control framework to assist in risk identification
The internal audit activity may use a risk management or control framework to assist in risk identification
Suggested answer: D
asked 18/09/2024
Junaid Ahmed Mohammed
47 questions

Question 209

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Which of the following scenarios best illustrates due professional care?

An internal auditor who previously worked in the payroll department within the last year was intentionally excluded by the chief audit executive from the audit team assigned to a payroll audit
An internal auditor who previously worked in the payroll department within the last year was intentionally excluded by the chief audit executive from the audit team assigned to a payroll audit
While performing a payroll audit an auditor became skeptical about significant payments made to a manager. The auditor sought to determine whether these payments were reasonable through discussion with a manager in a different department in the organization
While performing a payroll audit an auditor became skeptical about significant payments made to a manager. The auditor sought to determine whether these payments were reasonable through discussion with a manager in a different department in the organization
The head of the payroll department being audited is a business partner of the engagement supervisor During the audit the engagement supervisor sought to maintain his objectivity by not participating in fieldwork
The head of the payroll department being audited is a business partner of the engagement supervisor During the audit the engagement supervisor sought to maintain his objectivity by not participating in fieldwork
An auditor assigned to a payroll audit was unable to reperform some complex payroll computations for a small number of employees The sum of these payments was below the materiality thresholds provided so the auditor did not perform further tests
An auditor assigned to a payroll audit was unable to reperform some complex payroll computations for a small number of employees The sum of these payments was below the materiality thresholds provided so the auditor did not perform further tests
Suggested answer: B
asked 18/09/2024
Frank van Hout
46 questions

Question 210

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During the audit of taxation processes in the organization internal auditors have verified that all employees of the finance department received training on taxation guidelines. The training is mandatory and is automatically assigned via email invitation to all new employees in the department Which type of controls have the auditors tested?

Directive
Directive
Preventive
Preventive
Detective
Detective
Automatic
Automatic
Suggested answer: A
asked 18/09/2024
Carole Pie
44 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?