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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 27

List of questions

Question 261

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Which of the following would provide the best support for internal auditors to meet their continuing professional development requirements?

Access to online internal audit and business skills courses.
Access to online internal audit and business skills courses.
Records of self-assessment reports completed by the internal audit staff.
Records of self-assessment reports completed by the internal audit staff.
Cosourcing arrangements with external providers on specific engagements.
Cosourcing arrangements with external providers on specific engagements.
Performance reviews comparing internal auditors' achievements against specified goals.
Performance reviews comparing internal auditors' achievements against specified goals.
Suggested answer: D
asked 18/09/2024
Abdulraheem alsaka
35 questions

Question 262

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In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?

The CAE would need to procure external services to deliver the internal audit assurance program.
The CAE would need to procure external services to deliver the internal audit assurance program.
There is no expertise within the internal audit team for detecting and investigating fraud.
There is no expertise within the internal audit team for detecting and investigating fraud.
There is no expertise within the internal audit team for auditing an IT engagement.
There is no expertise within the internal audit team for auditing an IT engagement.
There is no available expertise on the internal audit team to perform a consulting engagement
There is no available expertise on the internal audit team to perform a consulting engagement
Suggested answer: D
asked 18/09/2024
William Hyde
43 questions

Question 263

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According to IIA guidance, which of the following statements is true regarding ISO 31000?

The key principles approach checks whether each element of the risk management process is in place.
The key principles approach checks whether each element of the risk management process is in place.
The framework is effective in addressing the organization's structure, size, and risk profile but not its culture objectives.
The framework is effective in addressing the organization's structure, size, and risk profile but not its culture objectives.
The end point for improving an organization s approach to risk management should be a gap analysis that evaluates any changes.
The end point for improving an organization s approach to risk management should be a gap analysis that evaluates any changes.
A combination of the three primary approaches to the framework generally yields the most information despite the complexity
A combination of the three primary approaches to the framework generally yields the most information despite the complexity
Suggested answer: C
asked 18/09/2024
Vageesh Shanmukha
52 questions

Question 264

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What should the chief audit executive do when the internal audit activity is found to be in nonconformance with the Code of Ethics or the Standards?

Assign competent staff to the area under audit to remediate the nonconformance.
Assign competent staff to the area under audit to remediate the nonconformance.
Determine how the deviation impacted the overall scope of the internal audit activity.
Determine how the deviation impacted the overall scope of the internal audit activity.
Meet with the board to gam an understanding of the board's expectations.
Meet with the board to gam an understanding of the board's expectations.
Communicate the matter to the board at the time of the next external assessment.
Communicate the matter to the board at the time of the next external assessment.
Suggested answer: B
asked 18/09/2024
Chun Yin Lau
50 questions

Question 265

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The internal audit activity audited an organization's risk management function multiple times, and the recommendations that were made remain unaddressed by the head of risk management. Which of the following would be the next step for the internal audit activity?

The internal audit activity should add value by implementing the recommendations on management's behalf.
The internal audit activity should add value by implementing the recommendations on management's behalf.
The chief audit executive (CAE) must discuss this matter with senior management and the board
The chief audit executive (CAE) must discuss this matter with senior management and the board
The CAE should determine which recommendations to implement based on the severity of the associated risks.
The CAE should determine which recommendations to implement based on the severity of the associated risks.
The internal audit activity, led by the CAE. should assume responsibility for risk management function.
The internal audit activity, led by the CAE. should assume responsibility for risk management function.
Suggested answer: C
asked 18/09/2024
muhammad ikram
36 questions

Question 266

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Which of the following conditions classifies an engagement as a consulting service provided by the internal audit activity?

The internal auditor assigned to the engagement previously worked in the area under review and lacks objectivity.
The internal auditor assigned to the engagement previously worked in the area under review and lacks objectivity.
The internal audit engagement will involve providing an opinion on the effectiveness of controls.
The internal audit engagement will involve providing an opinion on the effectiveness of controls.
The internal auditor assigned to the engagement was specifically requested by management of the area under review.
The internal auditor assigned to the engagement was specifically requested by management of the area under review.
he internal audit engagement involves only two parties: the internal auditor and the engagement client.
he internal audit engagement involves only two parties: the internal auditor and the engagement client.
Suggested answer: D
asked 18/09/2024
Benjamin Colart
53 questions

Question 267

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A whistleblower reveals to the chief audit executive (CAE) detailed allegations of potential fraud at the senior management level. Although the CAE has some experience in the area, she chooses to retain an external fraud expert to conduct the investigation. When asked by the director of finance to defend the expenditure, which of the following statements represents the CAE's best response?

The CAE refers to the Standards and explains that to protect her independence, she needs to remain isolated from the investigation.
The CAE refers to the Standards and explains that to protect her independence, she needs to remain isolated from the investigation.
The CAE refers to the Standards and explains that the internal audit activity must obtain competent assistance if needed.
The CAE refers to the Standards and explains that the internal audit activity must obtain competent assistance if needed.
The CAE refers to the Standards and explains that to protect her objectivity, she needs to remain isolated from the investigation.
The CAE refers to the Standards and explains that to protect her objectivity, she needs to remain isolated from the investigation.
The CAE describes the specifics of the allegation to underscore the importance of the situation and the need for expert investigation
The CAE describes the specifics of the allegation to underscore the importance of the situation and the need for expert investigation
Suggested answer: B
asked 18/09/2024
juan manuel torrado
40 questions

Question 268

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Guidelines need to be set for various levels of suspected fraud within an organization and when it would be reported to the audit committee. Which of the following would be reported at the next meeting?

Minor theft of less than $10,000, not involving senior management.
Minor theft of less than $10,000, not involving senior management.
Theft using collusion for more than $10,000. but not involving senior management.
Theft using collusion for more than $10,000. but not involving senior management.
Denial of access to requested employees during an audit.
Denial of access to requested employees during an audit.
Discussion of replacement of the chief audit executive.
Discussion of replacement of the chief audit executive.
Suggested answer: B
asked 18/09/2024
Ernest Altagracia Marte
47 questions

Question 269

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To assure that the technical proficiency of internal auditors is appropriate for the audit engagements to be performed, a chief audit executive should:

Consider the scope of work and level of responsibility when establishing criteria for education and experience in filling internal audit positions.
Consider the scope of work and level of responsibility when establishing criteria for education and experience in filling internal audit positions.
Ensure that each newly hired auditor is qualified in all of the disciplines needed to accomplish the department's audit mission.
Ensure that each newly hired auditor is qualified in all of the disciplines needed to accomplish the department's audit mission.
Oversee a training program that matches the actual training provided with the interests of individual auditors.
Oversee a training program that matches the actual training provided with the interests of individual auditors.
Require all of the audit staff to pursue a minimum number of continuing professional education hours each year
Require all of the audit staff to pursue a minimum number of continuing professional education hours each year
Suggested answer: A
asked 18/09/2024
pradeep singh dhesi
38 questions

Question 270

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Which of the following is a detective control strategy against fraud?

Requiring employees to attend ethics training.
Requiring employees to attend ethics training.
Performing background checks on employees.
Performing background checks on employees.
Implementing a control self-assessment.
Implementing a control self-assessment.
Performing a surprise audit
Performing a surprise audit
Suggested answer: D
asked 18/09/2024
Alice Smith
45 questions
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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?