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IIA IIA-CIA-Part2 Practice Test - Questions Answers, Page 40

Question list

List of questions

Question 391

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Which of the following is the advantage of using internal control questionnaires (ICQs) as part of a preliminary survey for an engagement?

Question 392

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Which of the following would help the internal audit activity assess compliance with the organization's standard operating procedures for bank deposits during a preliminary survey?

Question 393

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According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

Question 394

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The internal audit activity is planning an assurance engagement for a foreign subsidiary. According to IIA guidance, which of the following would be included in the preliminary communication to mana

Question 395

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Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

Question 396

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An internal auditor completed a consulting engagement covering a recent advertising campaign. The audit client asked the auditor to forward a copy of the report to one of the three advertising agenc

Question 397

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The internal audit activity is currently working on several engagements, including a consulting engagement on the management process in the human resources department. Which of the following actions

Question 398

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An internal auditor performed a test of controls and found that a statistically selected representative sample of recorded transactions within the account receivables ledger had an error rate that w

Question 399

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According to IIA guidance, how should an internal auditor apply any relevant information obtained from an internal consulting engagement during a related internal audit engagement?

Question 400

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Which of the following best describes the guideline for preparing audit engagement workpapers?

Question 391

Which of the following is the advantage of using internal control questionnaires (ICQs) as part of a preliminary survey for an engagement?

ICQs provide testimonial evidence.

ICQs are efficient.

ICQs provide tangible evidence to be quantified.

ICQs put observations into perspective.

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Question 392

Which of the following would help the internal audit activity assess compliance with the organization's standard operating procedures for bank deposits during a preliminary survey?

Issue an internal control questionnaire to select branch customers.

Issue an internal control questionnaire to the president of the organization.

Issue an internal control questionnaire to the director of bank operations.

Issue an internal control questionnaire to select branch managers.

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Question 393

According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

It documents the audit steps and procedures to be performed.

It documents preliminary information useful to the audit team.

It documents events that could hinder the achievement of process objectives.

It documents existing measures that manage risks in the area under review.

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The internal audit activity is planning an assurance engagement for a foreign subsidiary. According to IIA guidance, which of the following would be included in the preliminary communication to management of the area under review?

The scope of the engagement, the estimated time frame, and the names of the auditors.

The estimated time frame, the names of the auditors, and the resources and travel budget.

The names of the auditors, the resources and travel budget, and the scope of the engagement.

The resources and travel budget, the scope of the engagement, and the estimated time frame.

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Question 395

Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

Written observations allow for more interpretation.

Written observations help the internal auditors express the significance.

Written and verbal observations are equally effective.

Written observations limit premature agreement.

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Question 396

An internal auditor completed a consulting engagement covering a recent advertising campaign. The audit client asked the auditor to forward a copy of the report to one of the three advertising agencies used by the organization. According to IIA guidance, which of the following statements is true regarding this request?

The internal auditor may communicate the results to the advertising agency as instructed by the audit client, with approval from the chief audit executive.

The internal auditor may not communicate the results to this external party regardless of the engagement client's instruction.

The internal auditor may send the report and is required to include instructions for the advertising agency to limit further distribution and the use of results.

The internal auditor may only communicate the results verbally to the advertising agency and should not provide a hard copy.

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Question 397

The internal audit activity is currently working on several engagements, including a consulting engagement on the management process in the human resources department. Which of the following actions should the chief audit executive take to most efficiently and effectively ensure the quality of the engagement?

Assign an experienced manager to monitor the whole engagement process.

Employ fieldwork peer review to enhance the work quality.

Require internal auditors to follow a standardized work program.

Personally supervise the engagement.

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Question 398

An internal auditor performed a test of controls and found that a statistically selected representative sample of recorded transactions within the account receivables ledger had an error rate that was within management expectations. The associated revenue account was outside the scope of the audit engagement. How should the conclusion to this engagement be reported?

The auditor should state that the error rate was within the selected confidence level.

Negative assurance should be provided, as the associated revenue account was not examined.

The auditor should state that controls over the recording of transactions in the revenue account are operating effectively.

Positive assurance could be provided for the effectiveness of the accounts receivable controls.

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Question 399

According to IIA guidance, how should an internal auditor apply any relevant information obtained from an internal consulting engagement during a related internal audit engagement?

Document any facts obtained and include them as part of the audit engagement workpapers.

Rely upon the information to draw conclusions about the effectiveness of controls.

Use the knowledge obtained to evaluate the effectiveness of internal control processes.

Objectivity requires that this information should not be used in any part of the audit engagement.

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Question 400

Which of the following best describes the guideline for preparing audit engagement workpapers?

Workpapers should be understandable to the auditor in charge and the chief audit executive.

Workpapers should be understandable to the audit client and the board.

Workpapers should be understandable to another internal auditor who was not involved in the engagement.

Workpapers should be understandable to external auditors and regulatory agencies.

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Total 461 questions

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IIA IIA-CIA-Part2 Practice Test - Questions Answers, Page 40

Question list

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Question 391

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Question 392

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Question 393

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Question 394

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Question 395

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Question 396

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Question 397

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Question 398

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Question 399

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Question 400

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