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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 35

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List of questions

Question 341

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According to MA guidance, which of the following best describes how often the chief audit executive should review the quality assurance and improvement program of the internal audit activity?

Question 342

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What is the primary reason for establishing a continuing professional development program within an organization's internal audit activity?

Question 343

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Which of the following statements is true regarding internal controls?

Question 344

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Which of the following internal controls best mitigates the risk of corruption schemes between employees and vendors?

Question 345

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Which of the following organizations is adopting an acceptance technique in terms of its risk response?

Question 346

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Which of the following is a way to demonstrate an individual internal auditor's competency through continuing professional development?

Question 347

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An organization's operations management is aware of existing internal control deficiencies but they lack the competency to execute internal control measures. Which of the following actions if taken

Question 348

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Which of the following situations presents the lowest risk of impairing an internal audit activity's independence?

Question 349

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During the closing meeting of a procurement audit, the business manager disagrees with the observation presented by the engagement supervisor and accuses the team of not understanding the procuremen

Question 350

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In an internal audit charter, which of the following statements regarding the chief audit executive (CAE) would be most directly related to describing the responsibilities of the internal audit acti

Question 341

According to MA guidance, which of the following best describes how often the chief audit executive should review the quality assurance and improvement program of the internal audit activity?

Whenever the business objectives of the organization change

Just prior to an external assessment of the internal audit activity

At the completion of each engagement.

Progressively on a day-to-day basis

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Question 342

What is the primary reason for establishing a continuing professional development program within an organization's internal audit activity?

To ensure all internal audit responsibilities can be met

To ensure all audit staff members are capable of performing a quality self-assessment.

To ensure that each auditor maintains responsibility for his own professional development.

To attract the best and most talented candidates in the profession

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Question 343

Which of the following statements is true regarding internal controls?

Strategic objectives are prerequisites to establishing internal controls.

Internal controls eliminate process breakdowns caused by human errors.

Well-established internal controls cannot be overridden.

Robust internal controls ensure business success.

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Question 344

Which of the following internal controls best mitigates the risk of corruption schemes between employees and vendors?

Establishing policies that prohibit an employee from receiving gifts from an interested party.

Having employees sign annual attestations that they adhere to the organization's code of ethics.

Having strong management oversight of the purchasing and accounts payable functions.

Conducting regular examinations of documentation both paper and electronic.

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Question 345

Which of the following organizations is adopting an acceptance technique in terms of its risk response?

An organization that takes no action in managing the possible exposure to an earthquake.

An organization that opts out of investing in a new region due to volatility in foreign exchange rates.

An organization that takes out insurance policies to protect its property and equipment.

An organization that deploys policies and procedures to guide business activities and practices

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Question 346

Which of the following is a way to demonstrate an individual internal auditor's competency through continuing professional development?

Create different training budgets for each of the internal auditors

Define average training hours per auditor as a team performance measure

Analyze internal audit client survey feedback following audits

Review training records for all internal auditors

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An organization's operations management is aware of existing internal control deficiencies but they lack the competency to execute internal control measures. Which of the following actions if taken by the internal audit activity is appropriate to assist operating management in achieving continuous improvement on internal controls?

Foster the importance of the control environment

Provide training on controls and on self-monitoring processes

Recommend installing an enterprisewide risk management system.

Conduct more assurance assignments on high risk areas

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Question 348

Which of the following situations presents the lowest risk of impairing an internal audit activity's independence?

Senior management has the authority to terminate the chief audit executive

Senior management has control over the internal audit activity's budget

Senior management provides feedback on the scope of the internal audit plan.

Senior management limits the internal audit activity's access to the board

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Question 349

During the closing meeting of a procurement audit, the business manager disagrees with the observation presented by the engagement supervisor and accuses the team of not understanding the procurement objectives The engagement supervisor blames the manager for impeding the audit What skillset should the chief audit executive utilize to manage this situation?

The ability to negotiate

The ability to use analytical tools

The ability to foresee issues

The ability to manage conflict

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Question 350

In an internal audit charter, which of the following statements regarding the chief audit executive (CAE) would be most directly related to describing the responsibilities of the internal audit activity*?

The CAE shall report functionally to the board and administratively to the chief financial officer

The CAE and the Internal audit activity shall have full access to any and all records and personnel of the organization that are relevant to audit engagements

The CAE and the internal audit activity shall be independent and objective in performing their work.

The CAE shall report periodically on the performance of the internal audit activity relative to its plan

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Total 758 questions