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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 53

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List of questions

Question 521

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Which of the following would best assist the internal audit activity in assessing whether an organization's responses to risk are aligned with its risk appetite?

Question 522

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An internal auditor is reviewing employee travel expenses from the previous six months for fraud. Which of the following tests would best detect instances where personal travel has been claimed?

Question 523

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Which of the following best describes a consulting engagement rather an assurance engagement?

Question 524

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An electric company hires several independent contractors to trim trees that are in close proximity to electricity lines. Which of the following would be the most effective control to mitigate the r

Question 525

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Which of the following is an example of an application control?

Question 526

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An internal auditor discovered that a former colleague from the internal audit activity now works in a junior position in a department scheduled for an upcoming audit. How can the auditor best ensur

Question 527

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Which of the following items related to the quality assurance and improvement program should the chief audit executive report to the board?

Question 528

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Which of the following accurately describes the concept of inherent risk?

Question 529

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To comply with the proficiency standard which of the following would the chief audit executive likely consider as the primary hiring criterion when choosing a new internal auditor?

Question 530

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Due to unfavorable economic conditions management decided to postpone new investments for the next year. Which of the following best describes the risk management strategy used to address this situa

Question 521

Which of the following would best assist the internal audit activity in assessing whether an organization's responses to risk are aligned with its risk appetite?

Analyzing the results of successful testing of controls and monitoring procedures implemented by management

Determining that there are no gaps between the internal auditors' risk assessment and the risk assessment performed by the organization

Obtaining evidence that employees throughout the organization are aware of the organization s risk appetite

Verifying that previously identified organizational risks were documented in board meeting minutes

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Question 522

An internal auditor is reviewing employee travel expenses from the previous six months for fraud.

Which of the following tests would best detect instances where personal travel has been claimed?

Verifying whether claims have been properly authorized for payment

Verifying whether claims are properly supported by invoices or other documents.

Confirming that all claims are within the limits of the organization's travel policy.

Reconciling claims against business the requests that were approved by supervisors

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Question 523

Which of the following best describes a consulting engagement rather an assurance engagement?

Bank internal auditors review an activity checklist to determine that the loan officer followed proper procedures.

The chief financial officer asks for the internal auditor's opinion regarding whether the new accounting pronouncements were properly and comprehensively adopted

An internal auditor is assigned to assess whether a proposed new initiative to convert a customer service system would be cost effective.

Senior management asks the internal audit activity to review compliance with customer data security regulations

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An electric company hires several independent contractors to trim trees that are in close proximity to electricity lines. Which of the following would be the most effective control to mitigate the risk of contractors submitting fraudulent invoices regarding work completed?

Require contractors to submit completed and signed work acceptance sheets

Utilize unmanned drones to conduct regular flights and photo shoots over the areas where work is performed

Reconcile invoices and work acceptance sheets submitted by contractors

Compare actual payments to contractors with budgeted values and analyze discrepancies

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Question 525

Which of the following is an example of an application control?

Employees in the data center must always wear identification badges

Operating system updates must be installed within 48 hours.

A two stage authentication process must be used to access customer information

System backup and recovery testing must be done monthly

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Question 526

An internal auditor discovered that a former colleague from the internal audit activity now works in a junior position in a department scheduled for an upcoming audit. How can the auditor best ensure his objectivity for this engagement?

Recommend mat the chief audit executive outsource the upcoming audit engagement

Proceed with the audit engagement in accordance with the internal audit manual

Increase the amount of fieldwork in order to build greater credibility for audit conclusions

Declare a conflict of interest and hand over the engagement to another auditor

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Question 527

Which of the following items related to the quality assurance and improvement program should the chief audit executive report to the board?

Ongoing monitoring results

Periodic management assessment results

Annual risk assessment results

Internal auditors' training evaluation results

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Question 528

Which of the following accurately describes the concept of inherent risk?

Risk factors that exist when controls are in place and operating effectively

Internal risk factors assuming no controls are in place

Risk factors that cannot be mitigated because they are innate to a process

Combination of internal and external risk factors in their pure state assuming no controls are in place

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Question 529

To comply with the proficiency standard which of the following would the chief audit executive likely consider as the primary hiring criterion when choosing a new internal auditor?

The length and consistency of the auditor's work experience

The auditor's demonstrated problem-solving skills

The auditor's skills compared to those already possessed by other audit staff

The auditor's ability to be self motivated and a good team player

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Question 530

Due to unfavorable economic conditions management decided to postpone new investments for the next year. Which of the following best describes the risk management strategy used to address this situation?

Risk mitigation

Risk avoidance

Risk reduction

Risk transfer

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Total 758 questions