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

Question list

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?

Question 262

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

Question 263

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

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?

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

Question 266

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

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 re

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 meet

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:

Question 270

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

Question 261

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.

Records of self-assessment reports completed by the internal audit staff.

Cosourcing arrangements with external providers on specific engagements.

Performance reviews comparing internal auditors' achievements against specified goals.

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Question 262

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.

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 available expertise on the internal audit team to perform a consulting engagement

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Question 263

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 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.

A combination of the three primary approaches to the framework generally yields the most information despite the complexity

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Question 264

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.

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.

Communicate the matter to the board at the time of the next external assessment.

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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 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 internal audit activity, led by the CAE. should assume responsibility for risk management function.

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Question 266

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 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.

he internal audit engagement involves only two parties: the internal auditor and the engagement client.

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Question 267

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 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 describes the specifics of the allegation to underscore the importance of the situation and the need for expert investigation

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Question 268

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.

Theft using collusion for more than $10,000. but not involving senior management.

Denial of access to requested employees during an audit.

Discussion of replacement of the chief audit executive.

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Question 269

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.

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.

Require all of the audit staff to pursue a minimum number of continuing professional education hours each year

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