IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 69
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An internal auditor failed to identify transactions between the parent organization and a subsidiary. What is the most likely reason for the failure?
The auditor misunderstood the audit objectives.
The auditor lacked professional skepticism.
The auditor's fieldwork was not properly supervised.
The auditor lacked an understanding of the organization.
Which of the following would a chief audit executive most likely use to identify a need for improvement in a staff internal auditor's business acumen?
A quality assessment review.
An internal audit client survey.
A control self-assessment.
A peer review of the internal audit activity.
Which of the following statements is the most appropriate example of the internal audit activity exercising due professional care during an audit of the payroll department?
Internal auditors ensure that the work program is appropriately designed in order to identify all of the risks surrounding the payroll process.
Internal auditors determine whether the policies, procedures, and practices of the payroll department are operating in accordance with relevant laws.
Internal auditors verify whether the board of directors has implemented effective internal controls over the processes used by the payroll department.
Internal auditors ask the organization's risk manager to determine whether the degree of work planned is sufficient to determine whether payroll payments were complete and accurate.
An internal auditor found that his organization did not make a disclosure that is required by law. However, the auditor decided not to raise an audit finding. Which of the following Code of Ethics principles was violated?
Objectivity.
Integrity.
Proficiency.
Confidentiality.
Which of the following tests would most likely help discover a fictitious invoice?
Compare vendor addresses to employee addresses.
Match cancelled checks to invoices.
Search for duplicate payment amounts.
Check employee bank records against invoice amounts.
Once an organization's risks are identified, what would be the next step to ensure resources are properly allocated to manage those risks?
Risk responses must be selected.
Risks must be assessed.
The risk universe must be established.
Risk responses must be aligned.
Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?
Confidentiality.
Objectivity.
Integrity.
Competency.
Which of the following is true about corporate social responsibility (CSR)?
Social and environmental considerations are required parts of an organization's decision making
The Global Reporting Initiative provides standards on required disclosures of CSR.
CSR activities are overseen and managed by operational management.
Internal auditors can provide assurance on reported sustainability results.
Nearing the completion of fieldwork, an internal auditor shared the draft report findings with management prior to the closing meeting. During the closing meeting, management expressed dissatisfaction in that they were not familiar with some of the findings. Management also noted that some aspects of the report seemed confusing. Which of the following competencies appears to have been lacking in this scenario?
Communication.
Business acumen.
Persuasion.
Critical thinking.
Which of the following statements demonstrates that internal auditors are in conformance with the standard of due professional care?
Internal auditors have shown they have the freedom to carry out their responsibilities.
Internal auditors have demonstrated the skills needed to carry out the audit engagement.
Internal auditors have strictly followed a formal audit process in conducting their work.
Internal auditors have demonstrated an unbiased mental attitude.
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