ExamGecko
Search Search Login
Home Home / IIA / IIA-CIA-Part2
Question list
Search
Search

List of questions

Search
Open VPLUS File
Convert VPLUS to PDF

Related questions

How should an internal auditor approach preparing a detailed risk assessment during engagement planning?
A newly promoted chief audit executive (CAE) is faced with a backlog of assurance engagement reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the opinion statement on each report. According to IIA guidance, which of the following opinions would receive the lowest review priority? 1. Graded positive opinion. 2. Negative assurance opinion. 3. Limited assurance opinion. 4. Third-party opinion.
After the team member who specialized in fraud investigations left the internal audit team, the chief audit executive decided to outsource fraud investigations to a third party service provider on an as needed basis. Which of the following is most likely to be a disadvantage of this outsourcing decision?
Internal audit staff lacks the expertise to perform a fraud investigation engagement stemming from a whistleblowing incident. Which of the following is the most appropriate option for the chief audit executive?
According to the MA guidance, which of the following does the engagement work program test in a review of an organizational process?
An internal auditor wanted to determine whether company vehicles were being used for personal purposes She extracted a report that listed company vehicle numbers business units to which the vehicles are allocated travel dates, travel duration and mileage She then filtered the data for weekend dates Which of the following additional information would the auditor need?
According to an internal audit observation, the organization's rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system. Which of the following component should be added to this observation?
The external auditor has identified a number of production process control deficiencies involving several departments. As a result, senior management has asked the internal audit activity to complete internal control training for all related staff. According to IIA guidance, which of the following would be the most appropriate course of action for the chief audit executive to follow?
Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?
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 final report, which of the following is most appropriate?

Question 163 - IIA-CIA-Part2 discussion

Report
Export

The internal auditors available to perform the engagement do not have sufficient skills related to the area under review. Which of the following iss an appropriate action for the chief audit executive to take?

A.
Continue the engagement with the available staff, providing more hands-on supervision than usual
Answers
A.
Continue the engagement with the available staff, providing more hands-on supervision than usual
B.
Limit the objectives and scope of the engagement to align them with the skills available among the current staff.
Answers
B.
Limit the objectives and scope of the engagement to align them with the skills available among the current staff.
C.
Cosource the performance of the engagement using personnel in the area that will be reviewed to supplement the knowledge of the staff and complete the engagement
Answers
C.
Cosource the performance of the engagement using personnel in the area that will be reviewed to supplement the knowledge of the staff and complete the engagement
D.
Supplement the internal auditors assigned to the engagement by bringing onto the engagement team a consultant who is independent of the area under review and has the missing expertise
Answers
D.
Supplement the internal auditors assigned to the engagement by bringing onto the engagement team a consultant who is independent of the area under review and has the missing expertise
Suggested answer: D

Explanation:

In internal auditing, it is crucial to have the necessary skills and expertise to effectively evaluate and assess the area under review. When internal auditors lack the required skills, the chief audit executive (CAE) must take steps to ensure the engagement is performed effectively. Option D suggests bringing in a consultant who is independent of the area under review and has the missing expertise. This approach ensures that the engagement is conducted with the necessary knowledge and objectivity, thus maintaining the quality and integrity of the audit process. Unlike options A and B, which compromise the audit's effectiveness, and option C, which could create conflicts of interest, option D provides an optimal solution.

Reference: The IIA's International Standards for the Professional Practice of Internal Auditing, Standard 1210 - Proficiency and Standard 1220 - Due Professional Care.

Show Answer
asked 18/09/2024
Spandana Gangavaram
30 questions
PreviousPreviousNextNext
User
Your answer:
0 comments
Sorted by

Leave a comment first

ExamGecko

Copyright @2023 ExamGecko | All right reserved

Mail us: [email protected]
About us
Contact us
Twitter X
Facebook
Medium
Convert VPLUS to PDF
Open VPLUS files Easily and Quickly
Privacy Policy
Disclaimer
Terms