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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 24

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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?

Question 231

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Which of the following best describes the type of organizational culture known as adaptability culture'?

A.
A results-oriented culture that values competitiveness and personal initiative
A.
A results-oriented culture that values competitiveness and personal initiative
Answers
B.
A culture that emerges in quick-response and high-risk decision-making environments
B.
A culture that emerges in quick-response and high-risk decision-making environments
Answers
C.
A culture that is characterized by low involvement with environmental and health issues
C.
A culture that is characterized by low involvement with environmental and health issues
Answers
D.
A culture that places high value on participation and meeting the needs of employees.
D.
A culture that places high value on participation and meeting the needs of employees.
Answers
Suggested answer: B
asked 18/09/2024
Brian Kryszewski
33 questions

Question 232

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Which of the following internal control components has COSO identified as the most important?

A.
Information and communication
A.
Information and communication
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B.
Risk assessment
B.
Risk assessment
Answers
C.
Control activities
C.
Control activities
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D.
Control environment
D.
Control environment
Answers
Suggested answer: D
asked 18/09/2024
Matthew Montgomery
32 questions

Question 233

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An internal auditor was completely honest with operational management when delivering unfavorable audit results Which of the following best describes the IIA Code of Ethics principle that the auditor demonstrated?

A.
Integrity
A.
Integrity
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B.
Objectivity
B.
Objectivity
Answers
C.
Competency
C.
Competency
Answers
D.
Transparency
D.
Transparency
Answers
Suggested answer: A
asked 18/09/2024
Hicham Kaoussi
28 questions

Question 234

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Which of the following is true for consulting engagements'?

A.
The internal audit activity must ensure management actions have been effectively implemented or risk accepted
A.
The internal audit activity must ensure management actions have been effectively implemented or risk accepted
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B.
A work program for the engagement is not required but may be developed
B.
A work program for the engagement is not required but may be developed
Answers
C.
The nature of consulting services does not have to be in the internal audit charter
C.
The nature of consulting services does not have to be in the internal audit charter
Answers
D.
Risks identified from the engagement must be considered when evaluating the organization's risk management processes
D.
Risks identified from the engagement must be considered when evaluating the organization's risk management processes
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Suggested answer: D
asked 18/09/2024
Miguel Tuimil Galdo
40 questions

Question 235

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Which of the following statements is true regarding control activities'?

A.
Control activities are defined by management through risk mitigation strategies
A.
Control activities are defined by management through risk mitigation strategies
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B.
Control activities should be defined for all business processes
B.
Control activities should be defined for all business processes
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C.
If two organizations have identical objectives and structures their control activities would be the same
C.
If two organizations have identical objectives and structures their control activities would be the same
Answers
D.
Organizations that are less regulated generally have more complex control activities than highly regulated organizations
D.
Organizations that are less regulated generally have more complex control activities than highly regulated organizations
Answers
Suggested answer: B
asked 18/09/2024
Steve Nihan
39 questions

Question 236

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Which of the following statements is true regarding consulting and assurance engagements performed by the internal audit activity'?

A.
For both assurance and consulting engagements, the auditor must independently and objectively select the criteria for evaluation
A.
For both assurance and consulting engagements, the auditor must independently and objectively select the criteria for evaluation
Answers
B.
For a consulting engagement, internal auditors and management jointly agree on the adequate criteria needed to evaluate governance, risk management, and controls. This is not true of assurance engagements
B.
For a consulting engagement, internal auditors and management jointly agree on the adequate criteria needed to evaluate governance, risk management, and controls. This is not true of assurance engagements
Answers
C.
Engagement planning and fieldwork are similar for both types of engagements (there are no major differences) although the reporting process is different depending on which service is provided
C.
Engagement planning and fieldwork are similar for both types of engagements (there are no major differences) although the reporting process is different depending on which service is provided
Answers
D.
For a consulting engagement objectives must address governance risk management and control processes to the extent agreed upon with the client. This is not true of assurance engagements
D.
For a consulting engagement objectives must address governance risk management and control processes to the extent agreed upon with the client. This is not true of assurance engagements
Answers
Suggested answer: B
asked 18/09/2024
Kevin Suckiel
48 questions

Question 237

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Which of the following is the first step in the process of identifying relevant fraud risk factors?

A.
Identifying preventive and detective controls
A.
Identifying preventive and detective controls
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B.
Gathering information about the organization's business activities to gain an understanding of fraud risks
B.
Gathering information about the organization's business activities to gain an understanding of fraud risks
Answers
C.
Engaging in strategic reasoning to anticipate the fraud scheme
C.
Engaging in strategic reasoning to anticipate the fraud scheme
Answers
D.
The use of brainstorming, management interviews, analytical procedures and review of prior frauds.
D.
The use of brainstorming, management interviews, analytical procedures and review of prior frauds.
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Suggested answer: D
asked 18/09/2024
Nael Abal
33 questions

Question 238

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According to IIA guidance, which of the following best describes expense reimbursement fraud'?

A.
Theft of cash after it is recorded in the books
A.
Theft of cash after it is recorded in the books
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B.
Theft of cash before it is recorded in the books
B.
Theft of cash before it is recorded in the books
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C.
Theft of assets through fictitious or inflated invoices
C.
Theft of assets through fictitious or inflated invoices
Answers
D.
Theft of assets through false mileage travel logs and meal charges
D.
Theft of assets through false mileage travel logs and meal charges
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Suggested answer: D
asked 18/09/2024
Prakhar Sengar
33 questions

Question 239

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The chief audit executive of an organization assigns audit resources to undertake a consulting engagement requested by senior management the previous year, and a scheduled assurance audit of the procurement process Which of the following appropriately differentiates the two engagements?

A.
The details of assurance services are expected to be included in the risk-based audit plan; this is not the case for consulting services.
A.
The details of assurance services are expected to be included in the risk-based audit plan; this is not the case for consulting services.
Answers
B.
The objectivity of assurance services is impaired when undertaken by internal auditors who have had recent prior responsibility in the area under review; this is not the case for consulting services
B.
The objectivity of assurance services is impaired when undertaken by internal auditors who have had recent prior responsibility in the area under review; this is not the case for consulting services
Answers
C.
The performance of assurance services may be outsourced for competency gaps: this is not the case for consulting services.
C.
The performance of assurance services may be outsourced for competency gaps: this is not the case for consulting services.
Answers
D.
The results of assurance services are required to be monitored; this is not the case for consulting services
D.
The results of assurance services are required to be monitored; this is not the case for consulting services
Answers
Suggested answer: B
asked 18/09/2024
Nenad Celikovic
38 questions

Question 240

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The internal audit activity is performing an assessment of an organization's ethics program, and the engagement scope specifies a focus on the training program's design. According to IIA guidance, which of the following questions would be the most relevant?

A.
Does the training include situations that require an ethical decision?
A.
Does the training include situations that require an ethical decision?
Answers
B.
What percentage of employees have taken the training?
B.
What percentage of employees have taken the training?
Answers
C.
What are the results of the employee assessment of the organization's ethical climate?
C.
What are the results of the employee assessment of the organization's ethical climate?
Answers
D.
Does the instructor provide feedback on the thought process to reach an ethical resolution?
D.
Does the instructor provide feedback on the thought process to reach an ethical resolution?
Answers
E.
1 and 2.
E.
1 and 2.
Answers
F.
1 and 4.
F.
1 and 4.
Answers
G.
2 and 3.
G.
2 and 3.
Answers
H.
3 and 4.
H.
3 and 4.
Answers
Suggested answer: A
asked 18/09/2024
Chang Weishin
30 questions
Total 758 questions
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