IIA IIA-CGAP Online Practice Questions and Exam Preparation

IIA IIA-CGAP Online Questions & Answers

• Question 261:

  All of the following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option: A. Is confidential or sensitive information kept separate from other records?

  B. Does management provide a favorable control environment in the organization?
  C. Does adequate physical security exist over assets and records? Are storerooms locked? Are equipment and inventories properly recorded? Are there adequate environmental controls over assets (e.g., appropriate temperature)?
  D. Only A and C
  D. Only A and C

• Question 262:

  All of the following are the factors on which audit work schedules may be based on EXCEPT:

  A. Audit work schedules (activities to be audited, time frames for audit, resource estimates).
  B. The length of time since the area was last audited and the extend and type of findings in the last audit.
  C. Audits prioritized based on assessment of the degree of risk of potential loss (such as potential loss of dollars, lives, or of public trust) associated with the audit area.
  D. The occurrence of major recent changes in operations, programs, systems, or controls and the availability of audit staff resources.
  A. Audit work schedules (activities to be audited, time frames for audit, resource estimates).

• Question 263:

  The application of the appropriate audit standards is dependent on all of the following issues EXCEPT:

  A. Laws and policies of the audit organization.
  B. Regulations
  C. Audit requirements
  D. External control requirement
  D. External control requirement

• Question 264:

  To evaluate the reliability of performance data in cases where a performance measurement system exists. All of the following are the steps that are included in the process EXCEPT:

  A. Document (map) component's existing performance measurement system.
  B. Determine if the reports produced by the existing system are adequate.
  C. Assess reliability, accuracy, and validity of data to support the existing systems.
  D. Test availability, reliability, and validity of existing data to support measures
  D. Test availability, reliability, and validity of existing data to support measures

• Question 265:

  In addition to the characteristics described above, performance measurement information should have all of the following characteristics EXCEPT:

  A. Relevant (related to program's objectives)
  B. Accurate (complete and error free.)
  C. Easy to understand and use (free of jargon and with key terms defined)
  D. easily accessible
  D. easily accessible

• Question 266:

  The__________ is where the audit determines whether process controls exist and are sufficient to provide reasonable assurance that the desired performance will be achieved. Where as The ____________ is where the audit includes methodology for measuring performance either because the audited entity is not measuring its own performance or because its performance measurement efforts are or may be incomplete or unreliable.

  A. Process-based approach, measurement-based approach
  B. Measurement-based approach, control-based approach
  C. Measurement-based approach, process-based approach
  D. Planning-based approach, measurement-based approach
  A. Process-based approach, measurement-based approach

• Question 267:

  The Canadian Comprehensive Auditing Foundation (CCAF) lists the following 12 attributes that management should be reporting on regarding the effectiveness of their organizations please choose the correct option:

  A. Management direction (e.g., clarity of objectives), continued relevance of a program, Appropriateness of program design and Achievement of intended results.
  B. Satisfaction of clients or stakeholders, Secondary impacts, Costs and productivity, Responsiveness to changed circumstances and financial results.
  C. Quantify effect (difference between condition and criteria).
  D. The extent to which the organization provides an appropriate work environment for its Employees, Safeguarding of assets and Monitoring and reporting of performance
  A. Management direction (e.g., clarity of objectives), continued relevance of a program, Appropriateness of program design and Achievement of intended results.
  B. Satisfaction of clients or stakeholders, Secondary impacts, Costs and productivity, Responsiveness to changed circumstances and financial results.
  D. The extent to which the organization provides an appropriate work environment for its Employees, Safeguarding of assets and Monitoring and reporting of performance

• Question 268:

  Control self-assessments help identify internal control weaknesses and solutions. Where as Auditors can assist in this process by providing direct assistance or specific information related to such areas as establishing and monitoring effective internal controls, risk assessments, and sampling.

  A. Control self-assessments, creditors
  B. Audit self-assessments, debtor
  C. Control self-assessments, auditors
  D. Control self-assessments, owners
  C. Control self-assessments, auditors

• Question 269:

  Assurance services involve the internal auditor's objective assessment of evidence to provide an independent opinion or conclusions regarding a process, system, or other subject matter. All of the following are the parties generally involved in assurance services EXCEPT:

  A. The team leader
  B. The person or group making the assessment ?the internal auditor
  C. The person or group directly involved with the process, system, or other subject matter the process owner.
  D. The person or group using the assessment ?the user.
  A. The team leader

• Question 270:

  The auditors of public sector entities may be required to report on all of the following EXCEPT:

  A. Reporting to the owners
  B. Adequacy of accounting and internal control systems
  C. Economy, efficiency, and effectiveness of programs, projects, and activities
  D. Compliance with legislative or regulatory requirements and related authorities
  A. Reporting to the owners