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

Question list

List of questions

Question 81

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

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?

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?

Question 84

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

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?

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 ch

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?

Question 88

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

Question 89

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

Question 90

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

Question 81

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

Responsibility for outcome of the process.

Responsibility to be involved in management of the organization.

Responsibility to determine who is accountable for outcomes.

Responsibility to identify risks in the organization's business environment

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Question 82

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

Planning an engagement of the area in which fraud is suspected.

Employing audit tests to detect fraud.

Interrogating a suspected fraudster

Completing a process review to improve controls to prevent fraud

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Question 83

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

Announcing a series of internal audit engagements focusing on compliance with corporate salesreporting policies.

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.

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.

1 and 2 only.

2 and 3 only.

2 and 4 only.

3 and 4 only

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Question 84

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

Regulators mandate specific audit engagements to be included in the audit plan.

The internal audit activity reports functionally to the chief financial officer

The internal audit activity reports administratively to the CEO and functionally to the audit committee.

The internal audit activity reports administratively to the chief financial officer.

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Question 85

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

To enable Triple Bottom Line reporting capability.

To facilitate the conduct of risk assessment.

To achieve and maintain sustainable development.

To fulfill regulatory and compliance requirements.

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Question 86

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?

Senior management will be present whenever the CAE interacts with the board, to ensure effective communication among all three parties.

Internal auditors will advise on the design of control policies and procedures in any area where the organization does not possess the requisite expertise,

Internal auditors will demonstrate competence, concern, and the dedication expected of a professional,

Internal auditors will receive performance-based compensation, including bonuses for reporting more than a stipulated number of observations.

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Question 87

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?

CAE reviews and approves the annual audit plan,

CAE meets privately with the CEO at least annually.

CAE meets privately with the board at least annually,

CAE reports to the board regarding audit staff performance evaluation and compensation.

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Question 88

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

EFT is a popular mechanism for improving efficiency, but results in less internal control.

EFT significantly reduces the risk of fraud by eliminating the need for authorizations.

EFT eliminates payment delays due mostly to the introduction of automated cash controls,

EFT makes use of numerous automated controls, but is still vulnerable to fraudulent accounting entries.

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Question 89

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

The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization.

The internal auditor should disclose all material information obtained by the date of the final engagement communication.

The internal auditor should obtain all material information within the established time and budget parameters.

The internal auditor should reveal material facts that could potentially distort the reporting of activities under review.

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