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

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?

Whenever the business objectives of the organization change
Whenever the business objectives of the organization change
Just prior to an external assessment of the internal audit activity
Just prior to an external assessment of the internal audit activity
At the completion of each engagement.
At the completion of each engagement.
Progressively on a day-to-day basis
Progressively on a day-to-day basis
Suggested answer: C
asked 18/09/2024
Kyle Roarick
39 questions

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?

To ensure all internal audit responsibilities can be met
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 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 ensure that each auditor maintains responsibility for his own professional development.
To attract the best and most talented candidates in the profession
To attract the best and most talented candidates in the profession
Suggested answer: A
asked 18/09/2024
Victor Chacon
40 questions

Question 343

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Which of the following statements is true regarding internal controls?

Strategic objectives are prerequisites to establishing internal controls.
Strategic objectives are prerequisites to establishing internal controls.
Internal controls eliminate process breakdowns caused by human errors.
Internal controls eliminate process breakdowns caused by human errors.
Well-established internal controls cannot be overridden.
Well-established internal controls cannot be overridden.
Robust internal controls ensure business success.
Robust internal controls ensure business success.
Suggested answer: A
asked 18/09/2024
Matteo Di Pomponio
43 questions

Question 344

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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.
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 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.
Having strong management oversight of the purchasing and accounts payable functions.
Conducting regular examinations of documentation both paper and electronic.
Conducting regular examinations of documentation both paper and electronic.
Suggested answer: C
asked 18/09/2024
Robert Pila
42 questions

Question 345

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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 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 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 takes out insurance policies to protect its property and equipment.
An organization that deploys policies and procedures to guide business activities and practices
An organization that deploys policies and procedures to guide business activities and practices
Suggested answer: A
asked 18/09/2024
Robert Akehurst
35 questions

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?

Create different training budgets for each of the internal auditors
Create different training budgets for each of the internal auditors
Define average training hours per auditor as a team performance measure
Define average training hours per auditor as a team performance measure
Analyze internal audit client survey feedback following audits
Analyze internal audit client survey feedback following audits
Review training records for all internal auditors
Review training records for all internal auditors
Suggested answer: C
asked 18/09/2024
Fatima Giordano
51 questions

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 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
Foster the importance of the control environment
Provide training on controls and on self-monitoring processes
Provide training on controls and on self-monitoring processes
Recommend installing an enterprisewide risk management system.
Recommend installing an enterprisewide risk management system.
Conduct more assurance assignments on high risk areas
Conduct more assurance assignments on high risk areas
Suggested answer: B
asked 18/09/2024
Prenolan Kamiah
44 questions

Question 348

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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 the authority to terminate the chief audit executive
Senior management has control over the internal audit activity's budget
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 provides feedback on the scope of the internal audit plan.
Senior management limits the internal audit activity's access to the board
Senior management limits the internal audit activity's access to the board
Suggested answer: C
asked 18/09/2024
Vincent Scotti
37 questions

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 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 negotiate
The ability to use analytical tools
The ability to use analytical tools
The ability to foresee issues
The ability to foresee issues
The ability to manage conflict
The ability to manage conflict
Suggested answer: D
asked 18/09/2024
Elias Lopez III
50 questions

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 activity*?

The CAE shall report functionally to the board and administratively to the chief financial officer
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 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 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
The CAE shall report periodically on the performance of the internal audit activity relative to its plan
Suggested answer: A
asked 18/09/2024
Freddy Rojas
41 questions
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Related questions

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?
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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?