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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 23

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List of questions

Question 221

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An internal audit activity maintains a quality assurance and improvement program that includes annual self-assessments The internal audit activity includes in each engagement report a clause that th

Question 222

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Which of the following is an example of corruption?

Question 223

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The chief audit executive of a large national retailer is reviewing the purpose and objectives of the organization's internal audit activity Which of the following objectives is best aligned with Th

Question 224

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Which of the following describes the internal audit activity's most appropriate role in an organization's risk management process?

Question 225

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During an assurance engagement internal auditors interview operational management to gather and evaluate information. Which approach is most important for internal auditors to be able to listen effe

Question 226

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Which of the following situations undermines the independence of the internal audit activity?

Question 227

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According to IIA guidance, which of the following statements is true regarding the internal audit activity's responsibilities in providing consulting services?

Question 228

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An engagement supervisor noticed that a newly hired internal auditor struggles with large data samples because he appears reluctant to apply available spreadsheet statistical functions and tends to

Question 229

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Which of the following is a role internal auditors should undertake related to risk management?

Question 230

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Recently an organization's internal audit activity discovered ghost employees who receive payments Senior management decides to strengthen the internal control measures to address this Which of the

Question 221

An internal audit activity maintains a quality assurance and improvement program that includes annual self-assessments The internal audit activity includes in each engagement report a clause that the engagement is conducted in conformance with the International Standards for the Professional Practice of Internal Auditing ( Standards) Which of the following justifies inclusion of this clause in the reports?

Internal audit activity policies and engagement records provide relevant, sufficient, and competent evidence that the statement is correct

The audit committee has reviewed the annual self-assessment results and approved the use of the clause

The self-assessment results were validated by a qualified external review team three years prior

The internal audit charter, approved by the audit committee requires conformance with the Standards

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Question 222

Which of the following is an example of corruption?

Recognizing revenue up front rather than over a contract's life to inflate revenue for the current period

Requesting reimbursement for overstated travel and entertainment expense amount

Misstating realized foreign currency transaction gains or losses

Demanding payment from a vendor for decisions made in the vendor's favor

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Question 223

The chief audit executive of a large national retailer is reviewing the purpose and objectives of the organization's internal audit activity Which of the following objectives is best aligned with The IIA's Mission of Internal Audit?

To implement a quality assurance and improvement program

To assess the effectiveness of internal controls over organizational assets

To ensure internal auditors possess the competencies needed to perform their responsibilities

To operate within the budget established by the board of directors

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Question 224

Which of the following describes the internal audit activity's most appropriate role in an organization's risk management process?

Reporting to the board on management's assessment of current risks

Establishing a risk management policy and framework for the organization

Assigning responsibility for identifying and managing significant risks

Developing key controls to mitigate risks across the organization

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Question 225

During an assurance engagement internal auditors interview operational management to gather and evaluate information. Which approach is most important for internal auditors to be able to listen effectively to interviewees in the given situation?

Make an audio recording of the interview

Interrupt with questions during unclear statements

Express interest by asking follow-up questions

Avoid periods of silence

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Question 226

Which of the following situations undermines the independence of the internal audit activity?

The internal audit activity is responsible for the company's risk management function and its head manager reports to the chief audit executive

A senior member of the internal audit activity once worked in the corporate finance department

The organization's CEO reviews the internal audit activity's annual budget per the organization's policies and procedures

The internal audit activity often uses management's risk profile to build its own nsk profile for annual planning

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Question 227

According to IIA guidance, which of the following statements is true regarding the internal audit activity's responsibilities in providing consulting services?

The chief audit executive is responsible for deciding the priority of consulting services in the internal audit plan

The scope of consulting services is determined primarily by the internal auditor with input from management of the area under review

The board defines the internal audit activity's responsibilities over consulting activities

Adding value to an organization requires the internal audit activity to initiate a consulting engagement

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Question 228

An engagement supervisor noticed that a newly hired internal auditor struggles with large data samples because he appears reluctant to apply available spreadsheet statistical functions and tends to perform testing of transactions manually In which of the following areas does the internal auditor most likely need training?

Critical thinking.

International Professional Practices Framework

Professional ethics

Business acumen

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Question 229

Which of the following is a role internal auditors should undertake related to risk management?

Evaluate the reporting of key risks

Set the risk appetite

Implement risk responses on management's behalf

Impose risk management processes

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Question 230

Recently an organization's internal audit activity discovered ghost employees who receive payments Senior management decides to strengthen the internal control measures to address this Which of the following is considered an effective control to mitigate payments to ghost employees?

Staff transfers are reviewed by the recruiting manager and approved by the head of human resources

New staff requisition forms are authorized by operational management and acknowledged by the head of human resources

Staff salary payments and accounting records are approved by the head of accounting and acknowledged by the head of human resources

The staff salary payment list is reviewed by the head of payroll and endorsed by the head of human resources

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Total 758 questions