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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 51

Question list

List of questions

Question 501

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An internal audit team was assigned to review the organization's information security protocol After fieldwork was completed an internal auditor identified an error in the review of security access

Question 502

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Which of the following fundamental principles of The IIA's Code of Ethics is best described as performing work honestly diligently and responsibly?

Question 503

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During engagement planning, an internal auditor determines that the cost of a certain test outweighs the benefit that can be expected from the results. He determines that this test can be removed fr

Question 504

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Which of the following scenarios provides the most concerning red flag or indicator of possible fraud?

Question 505

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Which of the following describes the most appropriate match between a potential temporary guest auditor candidate and an upcoming audit assignment?

Question 506

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Which of the following statements is true regarding reporting results of the quality assurance and improvement program to senior management and the board?

Question 507

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Who has the ultimate responsibility of implementing the organization's governance system?

Question 508

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A senior executive at a government-owned organization received an invitation to attend a public exhibition where he can learn about new trucks relevant to the organization's business. As a special p

Question 509

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At a construction company, supervisors are entitled to bonus payments if there are no safety rule violations on their teams. There are several channels available for workers to report accidents and

Question 510

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How do assurance services and consulting services differ?

Question 501

An internal audit team was assigned to review the organization's information security protocol After fieldwork was completed an internal auditor identified an error in the review of security access The error could affect the overall results of the engagement Which of the following is the most appropriate course of action for the internal auditor?

Proceed with addressing the error and report any corrections to the engagement supervisor during the scheduled exit meeting

Issue the audit report to senior management on schedule but include a disclaimer about the error

Proceed with the scheduled closing of the engagement without consideration of the identified error

Inform the engagement supervisor of the error and allow the supervisor to determine the appropriate action to take

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Question 502

Which of the following fundamental principles of The IIA's Code of Ethics is best described as performing work honestly diligently and responsibly?

Integrity

Proficiency

Due Professional Care

Competency

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Question 503

During engagement planning, an internal auditor determines that the cost of a certain test outweighs the benefit that can be expected from the results. He determines that this test can be removed from the audit work program. Which of the following did the internal auditor best demonstrate?

Due professional care

Individual objectivity

Proficiency

Internal assessment

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Question 504

Which of the following scenarios provides the most concerning red flag or indicator of possible fraud?

An employee receives a bonus for perfect attendance

During the past 18 months three chief financial officers have left the organization after having been promoted to the position

The organization does not perform any due diligence research on third party service providers

Three competitors are highly profitable but a fourth equal in size is approaching bankruptcy limits

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Question 505

Which of the following describes the most appropriate match between a potential temporary guest auditor candidate and an upcoming audit assignment?

A purchasing manager with two years of prior audit experience in public practice to lead a contracts management audit

A communications officer who worked in the marketing department during the last six months to conduct a customer loyalty program audit

A manager of social responsibility who has a nursing background to participate m a health and safety audit for the corporate office and plant facilities

An accounting manager who discovered and reported fraud committed by a payables clerk to conduct a performance audit of accounts payable

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Question 506

Which of the following statements is true regarding reporting results of the quality assurance and improvement program to senior management and the board?

Internal assessments must be reported to the board at least every five years

If supported by assessment results, reporting provides assurance that internal auditors demonstrate conformance with the Code of Ethics

Following the reporting the board must give the internal audit activity five years to correct any deviations

A report, including the results of both internal and external assessments must be provided to the board annually

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Question 507

Who has the ultimate responsibility of implementing the organization's governance system?

Stakeholders

The board

The chief executive officer

Internal auditors

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Question 508

A senior executive at a government-owned organization received an invitation to attend a public exhibition where he can learn about new trucks relevant to the organization's business. As a special perk, the executive is offered an opportunity to drive a luxury vehicle manufactured by one of the exhibiting companies. Prior to the event, the executive asked for the chief audit executive s (CAE's) advice. What should the CAE recommend as the most appropriate course of action for the executive?

Attend the event, but decline the offer to use the luxury vehicle

Decline the invitation to the exhibition.

Ask the board to decide on the issue.

Select a lower-level employee to enjoy the luxury vehicle instead

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Question 509

At a construction company, supervisors are entitled to bonus payments if there are no safety rule violations on their teams. There are several channels available for workers to report accidents and violations, and all reported violations are investigated. Bonus payment calculations are approved by managers and the head of safety. Which of the controls best addresses the risk that supervisors will conceal accidents on their teams in order to receive the bonus?

The investigation of all reported violations

The authorization process for bonus calculations

The variety of reporting channels

The presence of safety rules

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