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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 38

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Question 371

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During fieldwork, an internal auditor located a significant internal control issue. Without identifying the origins of the issue, the auditor concluded the engagement and included the issue in the final audit report. To enhance audit quality, which of the following skills should the internal auditor improve?

Business acumen.
Business acumen.
Critical thinking.
Critical thinking.
Communication.
Communication.
Audit report writing.
Audit report writing.
Suggested answer: C
asked 18/09/2024
Ash Eller
44 questions

Question 372

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According to IIA guidance, which of the following corporate social responsibility {CSR) evaluation activities may be performed by the internal audit activity?

Consult on CSR program design and implementation
Consult on CSR program design and implementation
Serve as an advisor on CSR governance and risk management.
Serve as an advisor on CSR governance and risk management.
Review third parties for contractual compliance with CSR terms.
Review third parties for contractual compliance with CSR terms.
Identify and mitigate risks to help meet the CSR program objectives.
Identify and mitigate risks to help meet the CSR program objectives.
1,2, and 3.
1,2, and 3.
1,2, and 4.
1,2, and 4.
1, 3, and 4.
1, 3, and 4.
2, 3, and 4
2, 3, and 4
Suggested answer: A
asked 18/09/2024
Mohammad Musa
44 questions

Question 373

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A newly hired internal auditor is most likely to need further education in the area of business acumen in which of the following situations?

She was transferred from the managerial accounting department of the same organization.
She was transferred from the managerial accounting department of the same organization.
She was recruited from the internal audit activity of another organization that operates in a different industry.
She was recruited from the internal audit activity of another organization that operates in a different industry.
She was offered a permanent position after she had worked with the organization for two years in a temporary auditor-in-training position.
She was offered a permanent position after she had worked with the organization for two years in a temporary auditor-in-training position.
She previously served on the organization's external audit team and was recruited to the internal audit activity following the current year's financial audit.
She previously served on the organization's external audit team and was recruited to the internal audit activity following the current year's financial audit.
Suggested answer: B
asked 18/09/2024
Eric Persson
33 questions

Question 374

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A newly hired internal auditor is performing an engagement that requires significant IT expertise that he does not possess. If the auditor does not alert the chief audit executive about his lack of expertise and decides to perform the engagement anyhow, which principle of the IIA's Code of Ethics would he violate?

Due professional care.
Due professional care.
Competency.
Competency.
Effective communication
Effective communication
Professionalism
Professionalism
Suggested answer: B
asked 18/09/2024
Maija Janite
40 questions

Question 375

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Which of the following is true about a system of internal control?

Internal control should be updated at least annually.
Internal control should be updated at least annually.
Technology does not change the internal control landscape.
Technology does not change the internal control landscape.
Strategy should fit the system of internal control.
Strategy should fit the system of internal control.
Articulating measurable objectives is part of internal control.
Articulating measurable objectives is part of internal control.
Suggested answer: C
asked 18/09/2024
Arnaldo Martinez 2-30793
46 questions

Question 376

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According to MA guidance, which of the following statements is true regarding internal auditors' use of technology-based techniques?

Auditors must consider using technology if it advances the engagement, even when implementation costs exceed the benefits.
Auditors must consider using technology if it advances the engagement, even when implementation costs exceed the benefits.
Auditors must considering using technology to reduce the organization's risk by detecting all instances of fraud.
Auditors must considering using technology to reduce the organization's risk by detecting all instances of fraud.
Auditors must consider using technology only when the Implementation cost does not exceed benefits.
Auditors must consider using technology only when the Implementation cost does not exceed benefits.
Auditors must consider using technology in a variety of engagements to ensure that their work is substantiated and infallible.
Auditors must consider using technology in a variety of engagements to ensure that their work is substantiated and infallible.
Suggested answer: C
asked 18/09/2024
Juan Gonzalez
43 questions

Question 377

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Which of the following scenarios best illustrates the concept of due professional care?

After establishing engagement objectives and reviewing a process, the internal auditor assured process owners that all significant risk events were identified and tested using a systematic, disciplined approach.
After establishing engagement objectives and reviewing a process, the internal auditor assured process owners that all significant risk events were identified and tested using a systematic, disciplined approach.
After conducting an audit based upon a predefined scope and objective, the internal auditor guaranteed management that the system of internal controls in an audited area operates effectively.
After conducting an audit based upon a predefined scope and objective, the internal auditor guaranteed management that the system of internal controls in an audited area operates effectively.
As head of the internal audit activity, the chief audit executive reported functionally to the organization's board and administratively to senior management.
As head of the internal audit activity, the chief audit executive reported functionally to the organization's board and administratively to senior management.
As head of the internal audit activity, the chief audit executive ensures that engagement supervisors conduct post-engagement staff meetings.
As head of the internal audit activity, the chief audit executive ensures that engagement supervisors conduct post-engagement staff meetings.
Suggested answer: A
asked 18/09/2024
Robert Thompson
49 questions

Question 378

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An organization is considering purchasing a new banking software system and has asked the internal audit activity to evaluate the system. An internal auditor assigned to perform the engagement worked at the software company two years ago and is familiar with the system's design strengths and weaknesses. Which of the following is true regarding impairment to the auditor's objectivity?

This situation does not necessitate any action related to the auditor's objectivity.
This situation does not necessitate any action related to the auditor's objectivity.
The auditor should decline to perform the audit because personal conflicts of interest are likely.
The auditor should decline to perform the audit because personal conflicts of interest are likely.
The auditor must disclose to the chief audit executive that this situation may impair her objectivity.
The auditor must disclose to the chief audit executive that this situation may impair her objectivity.
The auditor can provide only consulting services, not assurance.
The auditor can provide only consulting services, not assurance.
Suggested answer: C
asked 18/09/2024
Aneez vezhappilly
38 questions

Question 379

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Which of the following statements best describes internal auditors' role in fraud detection?

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Question 380

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The chief audit executive (CAE) planned an in-person group training to help internal auditors perform onsite inspections of an automobile manufacturing facility. The training would have allowed the auditors to better understand the production of the organization's automobiles. However, a global health crisis has impacted the training by prohibiting in-person contact at the facility. Which of the following could the CAE use to provide auditors with a better understanding of the organization s production process?

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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?
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?