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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 3

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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 21

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Which of the following processes does the board manage to ensure adequate governance?

Establish and measure performance objectives for the internal audit activity.
Establish and measure performance objectives for the internal audit activity.
Select board members with necessary knowledge and skills.
Select board members with necessary knowledge and skills.
Develop, approve, and execute the strategic plan of the organization.
Develop, approve, and execute the strategic plan of the organization.
Develop strategies to mitigate the risks to achieving the organization's objectives
Develop strategies to mitigate the risks to achieving the organization's objectives
Suggested answer: B
asked 18/09/2024
J.L.M. van Loo
48 questions

Question 22

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Which of the following best describes the internal audit activity's contribution to the implementation of the risk management framework?

Internal audit identifies key risk areas during assurance reviews and provides audit findings.
Internal audit identifies key risk areas during assurance reviews and provides audit findings.
Internal audit assists with the prioritization of identified risks.
Internal audit assists with the prioritization of identified risks.
Internal audit participates in setting the risk appetite.
Internal audit participates in setting the risk appetite.
Internal audit takes part in the design of risk mitigation measures.
Internal audit takes part in the design of risk mitigation measures.
Suggested answer: A
asked 18/09/2024
Brian Bell
40 questions

Question 23

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During a review of employee benefits, a staff internal auditor observed an ambiguity in the incentive compensation policy. If reported, it could negatively impact the internal auditor's compensation.

Which of the following would encourage the internal auditor to be objective in his work?

Periodic reinforcement of the internal audit activity's code of ethics disclosure practices.
Periodic reinforcement of the internal audit activity's code of ethics disclosure practices.
External assessments of the internal audit activity every five years.
External assessments of the internal audit activity every five years.
Audit committee review of every engagement report at the conclusion of the audit.
Audit committee review of every engagement report at the conclusion of the audit.
Internal audit charter approved by the board.
Internal audit charter approved by the board.
Suggested answer: D
asked 18/09/2024
Lars Bleckmann
41 questions

Question 24

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During an assurance engagement, an internal auditor uses benchmarking research to support preparation of a report to stakeholders that contains significant findings about control deficiencies.

Which of the following skills did the auditor demonstrate?

Internal audit management.
Internal audit management.
Conflict negotiation.
Conflict negotiation.
Critical thinking.
Critical thinking.
Persuasion and collaboration.
Persuasion and collaboration.
Suggested answer: C
asked 18/09/2024
Kefash White
38 questions

Question 25

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An internal auditor observed that sales staff are able to modify or cancel an order in the system prior to shipping* She wonders whether they can also modify orders after shipping. Which of the following types of controls should she examine?

Batch controls.
Batch controls.
Application controls.
Application controls.
General IT controls.
General IT controls.
Logical access controls
Logical access controls
Suggested answer: B
asked 18/09/2024
Leon Duke
37 questions

Question 26

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Which of the following statements best illustrates why internal auditors assess soft controls?

Assessing soft controls are an effective method of assessing risk related to personnel.
Assessing soft controls are an effective method of assessing risk related to personnel.
Assessing soft controls, as opposed to hard controls, makes it easier to evaluate operating effectiveness.
Assessing soft controls, as opposed to hard controls, makes it easier to evaluate operating effectiveness.
Assessing soft controls can help internal auditors in undertaking root-cause analysis.
Assessing soft controls can help internal auditors in undertaking root-cause analysis.
Assessing soft controls provides more objective information than assessing hard controls.
Assessing soft controls provides more objective information than assessing hard controls.
Suggested answer: A
asked 18/09/2024
Ronald Stover
41 questions

Question 27

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While conducting an engagement in the procurement department, the internal auditor noticed that the department head's travel reports showed minor travel expenses, and there were no charges for hotels, meals, or transportation. However, the auditor knew that the department head frequently traveled worldwide to meet with suppliers and visit their production sites. Which of the following would be the most appropriate next step for the auditor?

The auditor should make a note of the issue for follow-up when employee travel expenses are audited.
The auditor should make a note of the issue for follow-up when employee travel expenses are audited.
The auditor should analyze trends and changes among the organization's suppliers over the past few years.
The auditor should analyze trends and changes among the organization's suppliers over the past few years.
The auditor should investigate whether there are any special arrangements regarding senior management travel.
The auditor should investigate whether there are any special arrangements regarding senior management travel.
The auditor should analyze the list of destinations the department head visited to estimate typical costs.
The auditor should analyze the list of destinations the department head visited to estimate typical costs.
Suggested answer: C
asked 18/09/2024
Scott Wells
38 questions

Question 28

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Which of the following best illustrates the application of due professional care during an audit of the procurement department?

The internal auditor began checking purchase requisitions for proper authorizations. He stopped when he discovered an instance of noncompfiance. and he concluded the controls were ineffective.
The internal auditor began checking purchase requisitions for proper authorizations. He stopped when he discovered an instance of noncompfiance. and he concluded the controls were ineffective.
The internal auditor discovered an instance where management did not follow the standard bidding processes. The auditor assessed the validity of management's reasons for deviating from standard practice and the supporting documentation, and determined that the deviation was acceptable.
The internal auditor discovered an instance where management did not follow the standard bidding processes. The auditor assessed the validity of management's reasons for deviating from standard practice and the supporting documentation, and determined that the deviation was acceptable.
The internal auditor selected a sample of purchase orders with amounts greater than S5.000, the threshold at which the organization requires a bidding process. The auditor obtained documentation of the bidding process for each purchase order in the sample.
The internal auditor selected a sample of purchase orders with amounts greater than S5.000, the threshold at which the organization requires a bidding process. The auditor obtained documentation of the bidding process for each purchase order in the sample.
The internal auditor analyzed bidding documents provided by management. Management indicated that the documents were purchase orders issued to a sole-source vendor Based on the analysis and management's declaration, the internal auditor determined that the procurement process was effective.
The internal auditor analyzed bidding documents provided by management. Management indicated that the documents were purchase orders issued to a sole-source vendor Based on the analysis and management's declaration, the internal auditor determined that the procurement process was effective.
Suggested answer: C
asked 18/09/2024
Paul Sanchez
34 questions

Question 29

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Which of the following procedures will best help an internal auditor assess operating effectiveness of fraud prevention and detection controls?

Benchmarking best practices
Benchmarking best practices
Testing,
Testing,
Mapping,
Mapping,
Interviewing
Interviewing
Suggested answer: B
asked 18/09/2024
Pablo Hilario
38 questions

Question 30

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Operational management in the IT department has developed key performance indicator reports, which are reviewed in detail during monthly staff meetings. This activity is designed to prevent which of the following conditions?

Knowledge/skills gap,
Knowledge/skills gap,
Monitoring gap.
Monitoring gap.
Accountability/reward failure,
Accountability/reward failure,
Communication failure.
Communication failure.
Suggested answer: B
asked 18/09/2024
Luis Gerardo Collazos Castro
38 questions
Total 758 questions
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