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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 5

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Question 41

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According to IIA guidance, which of the following statements is true regarding due professional care?

Internal auditors must exercise due professional care to Insure that all significant risks will be identified,
Internal auditors must exercise due professional care to Insure that all significant risks will be identified,
Internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor
Internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor
Due professional care requires the internal auditor to conduct extensive examinations and verifications to ensure fraud does not exist,
Due professional care requires the internal auditor to conduct extensive examinations and verifications to ensure fraud does not exist,
Due professional care is displayed during a consulting engagement when the internal auditor focuses on potential benefits of the engagement rather than the cost.
Due professional care is displayed during a consulting engagement when the internal auditor focuses on potential benefits of the engagement rather than the cost.
Suggested answer: B
asked 18/09/2024
luigi catalano
42 questions

Question 42

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Senior management has decided to adopt the key principles approach of the ISO 31000 risk management framework. According to IIA guidance, which of the following principles is most appropriate when implementing the risk management process in a dynamic agency?

Everyone in the agency has a primary responsibility for identifying and managing risks as part of the risk management process.
Everyone in the agency has a primary responsibility for identifying and managing risks as part of the risk management process.
The risk management process, while evaluating risk, should develop a mechanism to rank the relative importance of each risk.
The risk management process, while evaluating risk, should develop a mechanism to rank the relative importance of each risk.
The risk management process should be regularly reviewed and respond to changes in the environment, to remain relevant.
The risk management process should be regularly reviewed and respond to changes in the environment, to remain relevant.
The risk management process should use a formal technique to consider the consequence and likelihood of each risk.
The risk management process should use a formal technique to consider the consequence and likelihood of each risk.
Suggested answer: C
asked 18/09/2024
lawrence Ajibolade
53 questions

Question 43

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A multinational organization has asked the internal audit activity to assist in setting up the organization's risk management system. The chief audit executive (CAE) agrees to take on the engagement as a consultant. Which of the following tasks is appropriate for the CAE to undertake?

Coordinate and facilitate risk workshops for management to attend.
Coordinate and facilitate risk workshops for management to attend.
Establish the degree of risk appetite for management to accept.
Establish the degree of risk appetite for management to accept.
Set risk indicators and mitigation plans for management to implement
Set risk indicators and mitigation plans for management to implement
Determine the number of significant risks for management to report to the board.
Determine the number of significant risks for management to report to the board.
Suggested answer: A
asked 18/09/2024
AARON MCCOMBS
53 questions

Question 44

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Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook.

Which of the following handbook policies has the greatest risk of compromising audit objectivity?

Internal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.
Internal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.
Internal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.
Internal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.
Internal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.
Internal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.
Internal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.
Internal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.
Suggested answer: B
asked 18/09/2024
Danilo Omaljev
39 questions

Question 45

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Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?

ISO 26000.
ISO 26000.
Global Reporting Initiative.
Global Reporting Initiative.
Open Compliance and Ethics Group.
Open Compliance and Ethics Group.
COSO's enterprise risk management framework
COSO's enterprise risk management framework
Suggested answer: B
asked 18/09/2024
Ziyad Karadsheh
35 questions

Question 46

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According to NA guidance, which of the following corporate sociaf 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
Vikram Panchal
45 questions

Question 47

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Which of the following is an example of a directive control?

Segregation of duties.
Segregation of duties.
Exception reports.
Exception reports.
Training programs.
Training programs.
Supervisory review.
Supervisory review.
Suggested answer: C
asked 18/09/2024
Sanaa CHOKIRI
50 questions

Question 48

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Which of the following is a true statement regarding whistleblowing?

Whistleblowing is one of several possible ethical structures an organization can undertake to encourage ethical behavior.
Whistleblowing is one of several possible ethical structures an organization can undertake to encourage ethical behavior.
Whistleblowing programs help employees deal with ethical questions and instill ethical values into everyday behavior
Whistleblowing programs help employees deal with ethical questions and instill ethical values into everyday behavior
Whistleblowers are current or former employees who are disgruntled and looking to retaliate.
Whistleblowers are current or former employees who are disgruntled and looking to retaliate.
Whistleblowers should inform the organization about actual criminal circumstances, not assumed allegations
Whistleblowers should inform the organization about actual criminal circumstances, not assumed allegations
Suggested answer: A
asked 18/09/2024
Aleksandar Burdin
28 questions

Question 49

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Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity's knowledge, skills, and competencies?

Complete a skills assessment of the internal audit activity based on. The IIA Global Internal Audit Competency Framework.
Complete a skills assessment of the internal audit activity based on. The IIA Global Internal Audit Competency Framework.
Develop a competency assessment tool for the internal audit activity based on The IIA Global Internal Audit Competency Framework.
Develop a competency assessment tool for the internal audit activity based on The IIA Global Internal Audit Competency Framework.
Incorporate the basic criteria for competency of the internal audit activity into the job descriptions of potential internal auditors,
Incorporate the basic criteria for competency of the internal audit activity into the job descriptions of potential internal auditors,
Develop an internal audit activity plan for training internal auditors to perform required assurance and consulting activities.
Develop an internal audit activity plan for training internal auditors to perform required assurance and consulting activities.
Suggested answer: B
asked 18/09/2024
Junaid Ahmed Mohammed
48 questions

Question 50

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Which of the following skills is most important for an internal auditor who facilitates control selfassessment workshops to possess?

Groupthink.
Groupthink.
Collaboration skills.
Collaboration skills.
Process analysis skills.
Process analysis skills.
Project management skills.
Project management skills.
Suggested answer: C
asked 18/09/2024
Rama Krishna
42 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?
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?