IIA IIA-CIA-Part1 Practice Test – Member Shared Questions, Page 28

Question 271

Which of the following statements is true regarding the disclosure of results of the quality assurance and improvement program?

A.

If the results of both internal and external assessments support conformance with the Standards, the internal audit activity must communicate this to the board and senior management in writing.

B.

If it has been in existence fewer than five years and has no documented external assessment, the internal audit activity may not indicate that it is operating in conformance with the Standards.

C.

If nonconformance affects its ability to fulfill its professional responsibilities or stakeholder expectations, the internal audit activity should disclose nonconformance as well as its impact.

D.

If an external assessment reflects an overall conclusion of nonconformance, the internal audit activity may continue to communicate that it conforms with the Standards if it discloses a remediation plan, including timeline with subsequent validation.

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Question 272

Following a quality assurance review of a small internal audit activity, the external reviewer and the chief audit executive (CAE) cannot agree on the importance of several deficiencies noted during the review. Which of the following would be the most appropriate next step for the reviewer to take?

A.

Remove the areas of disagreement from the scope of the engagement and seek informal compromises with the CAE.

B.

Issue the report to senior management, noting the deficiencies for immediate resolution.

C.

Issue the report, noting the deficiencies with comments that address the areas of disagreement.

D.

Request arbitration from the audit committee to resolve discrepancies prior to issuing the final report

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Question 273

Which of the following activities should the chief audit executive perform to ensure compliance with an organization's code of conduct?

A.

Act as an advisor to the committee responsible for reviewing violations of the code.

B.

Review and adjudicate all violations of the code of conduct.

C.

Lead the committee responsible for the oversight of the code.

D.

Implement a system of procedures to inform all employees of the code.

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Question 274

Which of the following best demonstrates the authority of the internal audit activity?

A.

Suggesting alternatives to decision makers.

B.

Improving the integrity of information.

C.

Determining the scope of internal audit services

D.

Achieving engagement objectives.

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Question 275

Which of the following would the chief audit executive be required to disclose in the communication of quality assessment results to senior management and the board?

A.

The cost and frequency of both internal and external assessments.

B.

Any assumptions made by the assessment team

C.

A potential conflict of interest of the assessment team.

D.

The assessment team's execution plan of relevant procedures.

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Question 276

Outsourcing a business activity is considered which of the following risk management techniques?

A.

Sharing a risk.

B.

Avoiding a risk.

C.

Reducing a risk.

D.

Mitigating a risk

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Question 277

An internal auditor performed a risk assessment and concluded that the controls over access privileges to a bank account were appropriate. Later, the auditor learned that a contractor was using a shared password provided by an authorized user of the account. Which of the following statements best describes the auditor's application of due professional care?

A.

Due professional care was exercised, despite the auditor's failure to identify the significant risk.

B.

Due professional care was not exercised because the auditor failed to identify all the significant risks during the risk assessment.

C.

Due professional care was not exercised because the residual risk from the possibility of authorized users sharing their passwords was not considered.

D.

Due professional care was not exercised because the auditor failed to conduct interviews to obtain testimonial evidence of possible password sharing

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Question 278

Which competency is required of all staff internal auditors prior to the commencement of an IT audit?

A.

The ability to assess IT governance.

B.

The ability to provide an on the risk profile of the organization to the board and senior management.

C.

The ability to ensure that proposals for improvements to internal controls are balanced with organizational objectives and capabilities.

D.

The ability to assess the potential for fraud risk and identifying common types of fraud associated with the engagement.

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Question 279

According to IIA guidance, which of the following is the primary reason the chief audit executive discusses the internal audit charter with senior management and the board?

A.

To provide guidance and solicit feedback on managing the internal audit activity as expected by various stakeholders.

B.

To provide an understanding of the Mission of Internal Audit and The IIA's mandatory guidance elements.

C.

To provide an update on the internal audit activity's quality of engagement supervision.

D.

To provide information on existing internal audit planning, changes to the internal audit plan, and the rationale for the changes

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Question 280

A significant number of employees expressed concerns of a hostile work environment within a large manufacturing plant, which is in contrast to the organization's stated culture of tolerance and open communication. Which of the following approaches would be most effective for an internal auditor to assess whether the organization supports a culture of tolerance and open communication?

A.

Assess plant employees' social media activity for specific messages related to tolerance and open communication

B.

Compare plant employees' compensation and benefits with those at similar sized organizations that have a stated culture of tolerance and open communication.

C.

Evaluate organization policies and procedures for references related to encouraging tolerance and open communication.

D.

Conduct a meeting with all plant employees and management to discuss tolerance and open communication

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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 28

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Question 271

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Question 272

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Question 273

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Question 274

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Question 275

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Question 276

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Question 277

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Question 278

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Question 279

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Question 280

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Related questions

Question 271

Question 272

Question 273

Question 274

Question 275

Question 276

Question 277

Question 278

Question 279

Question 280

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BASIC - 1 Month

PLUS - 2 Months

PRO - 6 Months