IIA IIA-CGAP Online Practice Questions and Exam Preparation

IIA IIA-CGAP Online Questions & Answers

• Question 251:

  Some forms or documents that may assist in the contracting process are given below please choose the correct option:

  A. Procurement request or authorization -- prepared by internal managers.
  B. Proposal -- submitted by interested, prospective contractors.
  C. Contract document -- executed only by authorized internal procurement personnel.
  D. A and B only.
  E. All of the above.
  E. All of the above.

• Question 252:

  Following is the information that audit charters generally address.

  A. Definition of the audit unit's responsibilities, goals, and objectives
  B. The phrases used to express the auditor's opinion are "give a true and fair view" or "present fairly, in all material respects", which are equivalent terms.
  C. The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework.
  D. The auditor's opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity.
  A. Definition of the audit unit's responsibilities, goals, and objectives

• Question 253:

  In testing the controls established by management, auditors should be able to identify if there are high-risk areas for integrity violations. Auditor responsibilities for detecting integrity violations include all of the following EXCEPT:

  A. Auditors should evaluate the evidence and determine the appropriate course of action. An investigation may be warranted if indicators strongly suggest that integrity violations occurred.
  B. When significant control weaknesses are found, the auditor should conduct sufficient tests to determine if these weaknesses resulted in integrity violations. The level of testing should increase as the number or significance of control weaknesses increases.
  C. Auditors must not have the knowledge and skills to adequately identify when violations occurred.
  D. Auditors should notify the proper legal authorities, if warranted.
  C. Auditors must not have the knowledge and skills to adequately identify when violations occurred.

• Question 254:

  Section _________ will detail some specific audit planning steps that are often utilized to ensure that the appropriate legal and audit standards are applied in ___________:

  A. Audit proposals, Audit engagements
  B. Audit engagements, II.C.2 (Planning)
  C. II.C.2 (Planning), Audit engagements
  D. Audit engagements, Audit proposals
  C. II.C.2 (Planning), Audit engagements

• Question 255:

  Authorization -- a statute or legislation that establishes or continues a national program or agency. Where as advance appropriation -- budget authority provided in an appropriation act that is first available in a fiscal year beyond the fiscal year for which the appropriation is enacted.

  A. Advance appropriation, Authorization
  B. Authorization, Advance appropriation
  C. Budget authority, Appropriation act
  D. Appropriation act, Budget authority
  B. Authorization, Advance appropriation

• Question 256:

  Standards must be reviewed and applied appropriately during the conduct of an audit. Following are some illustrations of situations that may arise during the course of an audit EXCEPT:

  A. Qualification
  B. Independence
  C. Communication
  D. Coordination
  D. Coordination

• Question 257:

  _______can be defined as A set of tasks to be costed or analyzed as a group, having both inputs and outputs. Where as _______can be defined as the mechanism that links an object with the frequency and intensity of the performance of an activity for the object.

  A. activity driver, cost driver
  B. activity, cost driver
  C. activity, activity driver
  D. cost driver, activity
  C. activity, activity driver

• Question 258:

  Which is the practice that an organization uses when the audit staff does not possess the needed skills, and management may temporally contract with a specialist to perform the needed function?

  A. Control
  B. Fraud risk assessment practice
  C. Outsourcing
  D. Accountancy practice
  C. Outsourcing

• Question 259:

  The auditor should comply with the Code of Ethics for Professional Accountants issued by the International Federation of Accountants. All of the following are the ethical principles governing the auditor's professional responsibilities EXCEPT:

  A. Independence and integrity.
  B. Professional competence and due care and confidentiality.
  C. No confidentiality.
  D. Professional behavior and technical standards
  C. No confidentiality.

• Question 260:

  Ultimately any system of control is the responsibility of the governing board. The Canadian Institute of Chartered Accountants' (CICA) publication, Guidance for Directors ?Governance Processes for Control, describes all of the following control responsibilities for boards given below EXCEPT:

  A. Establishing and monitoring the organization's ethical values.
  B. Overseeing external communications.
  C. Establish a common definition of internal control.
  D. Approval and monitoring of mission, vision, and strategy.
  C. Establish a common definition of internal control.