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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 45

Question list

List of questions

Question 441

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Which of the following actions by an internal auditor would be the most relevant to determine the effectiveness of controls?

Question 442

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Which of the following would be the most suitable internal control framework for an organization to adopt?

Question 443

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Which of the following scenarios best illustrates the Fraud Triangle component known as "perceived opportunity"?

Question 444

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Which of the following options describes the reason that conformance with The IIA's Code of Ethics is mandatory for internal auditors?

Question 445

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Which of the following statements is correct regarding disclosure of conformance or nonconformance with the Standards?

Question 446

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The manager of the payroll department requested a review of the payroll process, but only wants the engagement to include processes related to approval of time worked. What type of activity is this?

Question 447

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Which of the following statements is true regarding control activities?

Question 448

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An internal auditor was offered expensive tickets to a sporting event by the manager of an area that she was currently auditing. The auditor politely declined. Which of the following fundamental pri

Question 449

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Which of the following actions should the organization's governing body perform to provide the most effective governance over the organization's culture?

Question 450

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Which of the following indicates that internal audit independence may be compromised?

Question 441

Which of the following actions by an internal auditor would be the most relevant to determine the effectiveness of controls?

Participate in a fraud risk-assessment session as an in-house facilitator.

Send regular written updates to senior management on new control-related regulations.

Lead a seminar on internal controls and provide numerous examples to the audience.

Conduct a surprise inventory count at the raw materials warehouse.

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Question 442

Which of the following would be the most suitable internal control framework for an organization to adopt?

A framework that specifies common best practices for an organization to evaluate and benchmark.

A framework that specifies correct and incorrect business methodologies.

A framework with precise specifications for how controls and processes should be employed.

A framework that offers step-by-step guidance for remedial action for all organization types.

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Question 443

Which of the following scenarios best illustrates the Fraud Triangle component known as "perceived opportunity"?

Substantial bonuses are awarded if financial targets are met.

Duties are not properly segregated.

Employees may perceive favoritism and feel overlooked and resentful.

Bonuses may not be paid this year.

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Question 444

Which of the following options describes the reason that conformance with The IIA's Code of Ethics is mandatory for internal auditors?

Ethical compliance provides the basis for stakeholder confidence in the competence of the internal audit activity and of professional internal auditors.

Ethical compliance is necessary for internal auditors and the internal audit activity to accept responsibility for providing absolute assurance about the organization's risk management.

Ethical compliance provides the basis for stakeholder trust and confidence in the validity of the profession of internal auditing and the internal audit activity's findings.

The internal audit activity's ethical compliance sets the tone for the ethical compliance by the organization's board, management, and employees.

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Question 445

Which of the following statements is correct regarding disclosure of conformance or nonconformance with the Standards?

An internal audit activity that has been in existence fewer than five years cannot Indicate that it is operating in conformance with the Standards because it has not yet undergone an external assessment.

Once an external assessment validates conformance with the Standards, the internal audit activity may continue to use the statement until the next external assessment.

If it has been more than five years since the last external assessment was conducted, the Internal audit activity must cease indicating that it operates in conformance with the Standards.

The chief audit executive must disclose every instance of noncompliance with the Code of Ethics or the Standards.

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Question 446

The manager of the payroll department requested a review of the payroll process, but only wants the engagement to include processes related to approval of time worked. What type of activity is this?

Financial assurance engagement.

Operational consulting engagement.

Compliance assurance engagement.

Risk management consulting engagement.

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Question 447

Which of the following statements is true regarding control activities?

Control activities are carried out by first-line and second-line functions to mitigate risks.

Control activities are implemented by internal auditors to mitigate risks to an acceptable level.

Control activities provide the foundation for the organization to establish its risk appetite.

Control activities are a precondition to setting risk tolerance levels.

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Question 448

An internal auditor was offered expensive tickets to a sporting event by the manager of an area that she was currently auditing. The auditor politely declined. Which of the following fundamental principles ot the MA Code of Ethics did she display?

Confidentiality.

Independence.

Competency.

Objectivity

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Question 449

Which of the following actions should the organization's governing body perform to provide the most effective governance over the organization's culture?

Coordinate control activities.

Provide direction.

Design key controls.

Deliver assurance.

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