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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 42

Question list

List of questions

Question 411

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Which documents would help a forensic auditor identify instances of collusion between an employee and vendor to defraud the organization?

Question 412

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Of all the common characteristics of frauds, which of the following can the organization influence the most?

Question 413

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The organization's chief audit executive (CAE) is planning an immediate assurance engagement following several product recalls. However, the internal audit staff does not have the required Knowledge

Question 414

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A chief audit executive (CAE) was asked by senior management to establish and manage a risk management function. A new chief risk officer was hired a year later to assume these responsibilities. As

Question 415

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In which of the following situations would the organizational independence of an internal audit activity be impaired?

Question 416

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According to MA guidance, which of the following best demonstrates that the chief audit executive is properly reporting the results of the quality assurance and improvement program lo senior managem

Question 417

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Which of the following best describes a purpose for the internal audit charter?

Question 418

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Which of the following statements is true regarding the internal audit activity's quality assurance and improvement program (QAIP)?

Question 419

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An organization is implementing a new cybersecurity policy and has established a committee to ensure stakeholder alignment across the organization's infrastructure, network, and security teams. The

Question 420

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In order for an internal auditor to assess the opportunity for fraud to occur in an organization, which of the following does the auditor first need to understand?

Question 411

Which documents would help a forensic auditor identify instances of collusion between an employee and vendor to defraud the organization?

Email correspondence.

Payment request forms.

Vendor invoices.

Bank statements.

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Question 412

Of all the common characteristics of frauds, which of the following can the organization influence the most?

Pressure or incentive.

Rationalization

Opportunity

Commitment.

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The organization's chief audit executive (CAE) is planning an immediate assurance engagement following several product recalls. However, the internal audit staff does not have the required Knowledge and experience to adequately assess all the relevant processes and procedures.

According to 11A guidance, which of the following actions should the CAE take under these circumstances?

Use the current available resources to conduct the review and exclude those procedures that can't currently be performed.

Implement an accelerated training plan to provide the audit staff with the necessary skills and knowledge to conduct the engagement.

Encourage management to accept the assessed risk until the internal audit activity is able to adequately review the area.

Obtain assistance for the audit team from other internal assurance providers who possess the requisite expertise in the area.

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Question 414

A chief audit executive (CAE) was asked by senior management to establish and manage a risk management function. A new chief risk officer was hired a year later to assume these responsibilities. As this function was included in the current annual audit plan, the CAE engaged an external resource for a risk management engagement. Which of the following potential threats to objectivity was the CAE likely addressing?

Self-review threat.

Advocacy threat.

Familiarity threat.

Personal relationship threat.

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Question 415

In which of the following situations would the organizational independence of an internal audit activity be impaired?

The chief audit executive reports administratively to the CEO.

Scope limitations are imposed on internal audits.

The internal audit activity provides assurance services for an activity for which the engagement supervisor had responsibility within the previous year.

The compensation committee of the board approves the remuneration of the chief audit executive.

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Question 416

According to MA guidance, which of the following best demonstrates that the chief audit executive is properly reporting the results of the quality assurance and improvement program lo senior management and the board?

Providing a written conformance statement to both senior management and the board.

Giving copies of both external and internal assessments to the board.

Keeping files of reports of ongoing external assessment monitoring

Retaining copies of board meeting minutes showing that discussions of assessments took place.

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Question 417

Which of the following best describes a purpose for the internal audit charter?

The internal audit charter authorizes the internal audit activity's reporting structure and clearly defines the roles of each internal auditor.

The internal audit charter defines the roles and responsibilities of the chief audit executive, board of directors, and senior management.

The internal audit charter authorizes access to records, personnel, and physical properties relevant to the performance of audit engagements.

The internal audit charter defines the criteria by which the internal audit activity's performance will be evaluated

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Question 418

Which of the following statements is true regarding the internal audit activity's quality assurance and improvement program (QAIP)?

Internal assessments must be performed by the chief audit executive.

An internal assessment must be performed at least once every five years.

It Is permissible to share the results of the QAIP with the organization's external auditors.

Results of ongoing monitoring must be validated annually by an independent external assessor.

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Question 419

An organization is implementing a new cybersecurity policy and has established a committee to ensure stakeholder alignment across the organization's infrastructure, network, and security teams.

The head of the committee has asked the chief audit executive if the internal audit activity could play a role in these efforts. According to HA guidance, which of the following is the most appropriate response?

It is not appropriate for the internal audit activity to play a role because its independence must be protected.

The internal audit activity should not participate because there are no IT auditors on staff.

The internal audit activity is knowledgeable about risk and therefore should prioritize the organization's responses and control activities for the committee.

The internal audit activity may assist the committee and consult with management on the organization's responses and control activities.

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Question 420

In order for an internal auditor to assess the opportunity for fraud to occur in an organization, which of the following does the auditor first need to understand?

Fraud prevention.

Fraud detection.

Corporate culture.

Forensic analysis techniques.

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Total 758 questions