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IIA IIA-CIA-Part2 Practice Test - Questions Answers, Page 44

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Question 431

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Which phase of an audit engagement is typically the most effective time for an internal auditor to develop a risk and control matrix?

Question 432

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The internal audit activity has requested that new vendor information be summarized once per week in a single report, and that all invoices each week for these vendors be automatically flagged in th

Question 433

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Which of the following is critical to the success of an effective interview?

Question 434

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Which of the following is essential for ensuring that the internal audit activity's findings and recommendations receive adequate consideration?

Question 435

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According to IIA guidance, which of the following steps should precede the development of audit engagement objectives?

Question 436

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According to IIA guidance, which of the following activities are typically primary objectives of engagement supervision?

Question 437

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In addition to gathering information, which of the following is a primary objective of a client interview conducted during the planning stage of an audit engagement?

Question 438

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An internal audit activity has to confirm the validity of the activities reported by a grantee that received a charitable contribution from the organization. Which of the following methods would bes

Question 439

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An examination of the accounts payable function evidenced multiple findings with respect to segregation of duties. After management's response and action plan are received and documented in the fina

Question 440

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Internal auditors map a process by documenting the steps in the process, which provides a framework for understanding. Which of the following is a reason to use narrative memoranda?

Question 431

Which phase of an audit engagement is typically the most effective time for an internal auditor to develop a risk and control matrix?

When preparing to recap audit test results.

At sample selection, to determine sampling methodology.

At the start of fieldwork, as part of developing the annual audit plan.

At planning, to assist in developing the engagement work program.

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The internal audit activity has requested that new vendor information be summarized once per week in a single report, and that all invoices each week for these vendors be automatically flagged in the invoice processing system. Which of the following computerized audit techniques is the internal audit activity most likely applying?

Enabling continuous auditing.

Employing generalized audit software.

Facilitating electronic workpapers.

Using machine learning.

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Question 433

Which of the following is critical to the success of an effective interview?

Present audit evidence and information to support the internal auditor's line of questioning.

Establish credibility, trust, and rapport.

Develop flowcharts and review them with the interviewee.

Observe the process and discuss it with the interviewee.

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Question 434

Which of the following is essential for ensuring that the internal audit activity's findings and recommendations receive adequate consideration?

Reporting results of audits with recommendations to management.

Providing formal follow-up procedures to ensure that management complies with an action plan or accepted risk of not taking action.

Reporting quarterly to management that the audit plan is focused on higher exposures of risk.

Discussing audit findings with independent auditors.

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Question 435

According to IIA guidance, which of the following steps should precede the development of audit engagement objectives?

Identification of controls.

Scope establishment.

Risk assessment.

Review of resources.

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Question 436

According to IIA guidance, which of the following activities are typically primary objectives of engagement supervision?

Enable training and development of staff, identify engagement objectives, and assign responsibilities to individual auditors.

Identify engagement objectives, assign responsibilities to individual auditors, and approve the engagement program.

Assign responsibilities to individual auditors, approve the engagement program, and enable training and development of staff.

Approve the engagement program, enable training and development of staff, and identify engagement objectives.

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Question 437

In addition to gathering information, which of the following is a primary objective of a client interview conducted during the planning stage of an audit engagement?

To obtain sufficient audit evidence.

To test the client's knowledge.

To agree on the auditor's scope of authority.

To establish rapport.

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Question 438

An internal audit activity has to confirm the validity of the activities reported by a grantee that received a charitable contribution from the organization. Which of the following methods would best help meet this objective?

Visiting the grantee to assess whether the execution of the project was in line with the defined grant scope.

Verifying that the grantee's final report is in line with what was depicted in the initial budget request.

Reconciling general ledger accounts used by management of the area under review for reflecting expenses on charitable contributions.

Interviewing employees of the corporate affairs department, which is responsible for charitable activities.

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Question 439

Follow up after the applicable changes have been incorporated to validate management's response.

Include the items in the scope of the next scheduled audit of the accounts payable function.

Because management agreed with the findings, no further action is deemed necessary.

Have an internal audit staff member placed into the accounting department until corrections are made.

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Question 440

Internal auditors map a process by documenting the steps in the process, which provides a framework for understanding. Which of the following is a reason to use narrative memoranda?

To create a detailed risk assessment.

To identify individuals who perform key roles.

To explain a simple process.

To document which outputs support other activities.

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Total 461 questions