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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 9

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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?

Question 81

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Which of the following most accurately describes the role of the board when it comes to organizational governance?

A.
Responsibility for outcome of the process.
A.
Responsibility for outcome of the process.
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B.
Responsibility to be involved in management of the organization.
B.
Responsibility to be involved in management of the organization.
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C.
Responsibility to determine who is accountable for outcomes.
C.
Responsibility to determine who is accountable for outcomes.
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D.
Responsibility to identify risks in the organization's business environment
D.
Responsibility to identify risks in the organization's business environment
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Suggested answer: C
asked 18/09/2024
Zakaria Boujli
28 questions

Question 82

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Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

A.
Planning an engagement of the area in which fraud is suspected.
A.
Planning an engagement of the area in which fraud is suspected.
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B.
Employing audit tests to detect fraud.
B.
Employing audit tests to detect fraud.
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C.
Interrogating a suspected fraudster
C.
Interrogating a suspected fraudster
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D.
Completing a process review to improve controls to prevent fraud
D.
Completing a process review to improve controls to prevent fraud
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Suggested answer: B
asked 18/09/2024
Jess Kendrick Gamboa
35 questions

Question 83

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When taken by a chief audit executive, which of the following actions would be most likely to prevent division management from exaggerating sales reports?

A.
Announcing a series of internal audit engagements focusing on compliance with corporate salesreporting policies.
A.
Announcing a series of internal audit engagements focusing on compliance with corporate salesreporting policies.
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B.
Asking the president and the board to issue a statement of corporate policy stressing the importance of accurate management reporting and the negative consequences of intentional misreporting.
B.
Asking the president and the board to issue a statement of corporate policy stressing the importance of accurate management reporting and the negative consequences of intentional misreporting.
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C.
Setting up a hotline for employees to report fraudulent behavior anonymously, 4. Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.
C.
Setting up a hotline for employees to report fraudulent behavior anonymously, 4. Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.
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D.
1 and 2 only.
D.
1 and 2 only.
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E.
2 and 3 only.
E.
2 and 3 only.
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F.
2 and 4 only.
F.
2 and 4 only.
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G.
3 and 4 only
G.
3 and 4 only
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Suggested answer: A
asked 18/09/2024
David Brun
36 questions

Question 84

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Which of the following scenarios would most significantly restrict the areas where interna! audit could perform assurance services?

A.
Regulators mandate specific audit engagements to be included in the audit plan.
A.
Regulators mandate specific audit engagements to be included in the audit plan.
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B.
The internal audit activity reports functionally to the chief financial officer
B.
The internal audit activity reports functionally to the chief financial officer
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C.
The internal audit activity reports administratively to the CEO and functionally to the audit committee.
C.
The internal audit activity reports administratively to the CEO and functionally to the audit committee.
Answers
D.
The internal audit activity reports administratively to the chief financial officer.
D.
The internal audit activity reports administratively to the chief financial officer.
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Suggested answer: B
asked 18/09/2024
Vusani Nedzungani
50 questions

Question 85

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According to NA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?

A.
To enable Triple Bottom Line reporting capability.
A.
To enable Triple Bottom Line reporting capability.
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B.
To facilitate the conduct of risk assessment.
B.
To facilitate the conduct of risk assessment.
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C.
To achieve and maintain sustainable development.
C.
To achieve and maintain sustainable development.
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D.
To fulfill regulatory and compliance requirements.
D.
To fulfill regulatory and compliance requirements.
Answers
Suggested answer: A
asked 18/09/2024
Nathan Phelan
48 questions

Question 86

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The chief audit executive (CAE) of a new internal audit activity is creating an internal audit charter According to IIA guidance, which of the following terms is most likely to be included in the charter?

A.
Senior management will be present whenever the CAE interacts with the board, to ensure effective communication among all three parties.
A.
Senior management will be present whenever the CAE interacts with the board, to ensure effective communication among all three parties.
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B.
Internal auditors will advise on the design of control policies and procedures in any area where the organization does not possess the requisite expertise,
B.
Internal auditors will advise on the design of control policies and procedures in any area where the organization does not possess the requisite expertise,
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C.
Internal auditors will demonstrate competence, concern, and the dedication expected of a professional,
C.
Internal auditors will demonstrate competence, concern, and the dedication expected of a professional,
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D.
Internal auditors will receive performance-based compensation, including bonuses for reporting more than a stipulated number of observations.
D.
Internal auditors will receive performance-based compensation, including bonuses for reporting more than a stipulated number of observations.
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Suggested answer: C
asked 18/09/2024
J.J. van Ingen
41 questions

Question 87

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According to NA guidance, which of the following practices by the chief audit executive (CAE) best enhances the organizational independence of the internal audit activity?

A.
CAE reviews and approves the annual audit plan,
A.
CAE reviews and approves the annual audit plan,
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B.
CAE meets privately with the CEO at least annually.
B.
CAE meets privately with the CEO at least annually.
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C.
CAE meets privately with the board at least annually,
C.
CAE meets privately with the board at least annually,
Answers
D.
CAE reports to the board regarding audit staff performance evaluation and compensation.
D.
CAE reports to the board regarding audit staff performance evaluation and compensation.
Answers
Suggested answer: D
asked 18/09/2024
Shane Cook
33 questions

Question 88

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Which of the following statements is true regarding electronic funds transfer (EFT)?

A.
EFT is a popular mechanism for improving efficiency, but results in less internal control.
A.
EFT is a popular mechanism for improving efficiency, but results in less internal control.
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B.
EFT significantly reduces the risk of fraud by eliminating the need for authorizations.
B.
EFT significantly reduces the risk of fraud by eliminating the need for authorizations.
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C.
EFT eliminates payment delays due mostly to the introduction of automated cash controls,
C.
EFT eliminates payment delays due mostly to the introduction of automated cash controls,
Answers
D.
EFT makes use of numerous automated controls, but is still vulnerable to fraudulent accounting entries.
D.
EFT makes use of numerous automated controls, but is still vulnerable to fraudulent accounting entries.
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Suggested answer: C
asked 18/09/2024
Lawrence Bargers
32 questions

Question 89

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According to the 11A Code of Ethics, which of the following is required with regard to communicating results?

A.
The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization.
A.
The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization.
Answers
B.
The internal auditor should disclose all material information obtained by the date of the final engagement communication.
B.
The internal auditor should disclose all material information obtained by the date of the final engagement communication.
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C.
The internal auditor should obtain all material information within the established time and budget parameters.
C.
The internal auditor should obtain all material information within the established time and budget parameters.
Answers
D.
The internal auditor should reveal material facts that could potentially distort the reporting of activities under review.
D.
The internal auditor should reveal material facts that could potentially distort the reporting of activities under review.
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Suggested answer: D
asked 18/09/2024
Jenny Silva
42 questions

Question 90

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Which of the following should a general internal auditor be able to characterize as an IT-related risk?

A.
Computer servers are in a room that is accessible to all employees,
A.
Computer servers are in a room that is accessible to all employees,
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B.
An IT architect avoids taking vacations and sharing his workload with coworkers,
B.
An IT architect avoids taking vacations and sharing his workload with coworkers,
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C.
Hours billed by IT developers exceed 24 hours daily.
C.
Hours billed by IT developers exceed 24 hours daily.
Answers
D.
Audit logs are lacking in a system that processes personal data.
D.
Audit logs are lacking in a system that processes personal data.
Answers
Suggested answer: D
asked 18/09/2024
Faqeer Ali
42 questions
Total 758 questions
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