IIA IIA-CIA-PART1 Online Practice Questions and Exam Preparation

IIA IIA-CIA-PART1 Online Questions & Answers

• Question 311:

  An organization's human resources (HR) department allows employees to take their leave time prior to it being earned. The employees track their leave time in a spreadsheet, which they provide to HR. Which of the following controls implemented by HR would best mitigate the risk of employees fraudulently taking leave they have not earned?

  A. Periodically review the spreadsheet data and reconcile leave taken and accrued with the organization's timekeeping system.
  B. Annually require ethics training for all employees that includes information on proper reporting of time attendance and leave.
  C. Frequently publish links to the organization's fraud reporting hotline.
  D. Randomly select employees and require them to attest to the accuracy of the leave time they report in their spreadsheets.
  A. Periodically review the spreadsheet data and reconcile leave taken and accrued with the organization's timekeeping system.

• Question 312:

  The chief audit executive of a large national retailer is reviewing the purpose and objectives of the organization's internal audit activity. Which of the following objectives is best aligned with the IIA's Mission of Internal Audit?

  A. To implement a quality assurance and improvement program.
  B. To assess the effectiveness of internal controls over organizational assets.
  C. To ensure internal auditors possess the competencies needed to perform their responsibilities.
  D. To operate within the budget established by the board of directors.
  B. To assess the effectiveness of internal controls over organizational assets.

• Question 313:

  Once an organization's risks are identified, what would be the next step to ensure resources are properly allocated to manage those risks?

  A. Risk responses must be selected.
  B. Risks must be assessed.
  C. The risk universe must be established.
  D. Risk responses must be aligned.
  A. Risk responses must be selected.

• Question 314:

  Which of the following represents the correct order of the risk management process?

  A. Resource allocation, risk management metrics, risk assessment, post-mortem analysis, effective communication.
  B. Risk management metrics, resource allocation, risk assessment, effective communication, post-mortem analysis.
  C. Risk assessment, resource allocation, risk governance and reporting, post-mortem analysis, feedback.
  D. Resource allocation, risk monitoring, risk assessment, feedback, post-mortem analysis.
  C. Risk assessment, resource allocation, risk governance and reporting, post-mortem analysis, feedback.

• Question 315:

  Which of the following items related to the quality assurance and improvement program should the chief audit executive report to the board?

  A. Ongoing monitoring results.
  B. Periodic management assessment results.
  C. Annual risk assessment results.
  D. Internal auditors' training evaluation results.
  A. Ongoing monitoring results.

• Question 316:

  An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization's mission. Which of the following pieces of evidence would be suficient for completing this task?

  A. A log from the last year that includes dates of travel, conference titles, and conference objectives, all of which correspond with employee names and costs per trip.
  B. A log that includes titles of conferences that all employees were invited to attend in the last year, along with the dates of those conferences and average costs per traveler.
  C. A log of conferences titles, dates of travel for each employee, and a detailed summary of conference objectives and how they relate to the organization's mission needs.
  D. A log of employee travel requests, which include the title of each conference, the conference objectives, anticipated dates of travel, and estimated costs.
  A. A log from the last year that includes dates of travel, conference titles, and conference objectives, all of which correspond with employee names and costs per trip.

• Question 317:

  Using the internal audit department to coordinate regulatory examiners' efforts is beneficial to the organization because internal auditors can:

  A. In uence regulatory interpretation of law to better match corporate practice.
  B. Recommend changes to the scope of the regulatory examiners' review.
  C. Perform fieldwork for the regulatory examiners and thus shorten the regulatory examiners' review.
  D. Supply evidence of adequate compliance testing through internal audit workpapers and reports.
  D. Supply evidence of adequate compliance testing through internal audit workpapers and reports.

• Question 318:

  An internal audit charter should do which of the following?

  A. Outline the schedule of future audits.
  B. Define the scope of internal audit activities.
  C. Establish the size of the internal audit activity.
  D. Communicate the internal audit activity's goals.
  B. Define the scope of internal audit activities.

• Question 319:

  Which of the following is not an appropriate type of coordination between the internal audit activity and regulatory auditors?

  A. Regulatory auditors share their perspective on risk management, control, and governance with the internal auditors.
  B. Internal auditors perform fieldwork at the direction of the regulatory auditors.
  C. Internal auditors review copies of regulatory reports in planning related internal engagements.
  D. Regulatory and internal auditors exchange information about planned activities.
  B. Internal auditors perform fieldwork at the direction of the regulatory auditors.

• Question 320:

  An internal auditor at a multinational organization is reviewing the effectiveness of the organization's risk management framework. In this scenario, which of the following statements is true?

  A. The auditor should consider local cultures and customs in various regions when assessing control effectiveness.
  B. Regardless of their location, employees at all levels share responsibility for designing effective controls to mitigate risks.
  C. To achieve an effective internal control environment, the organization's risk management plan must be documented and communicated to all levels throughout each region.
  D. Setting clear objectives is a precondition to effectively identifying, assessing, and responding to the organization's risks.
  D. Setting clear objectives is a precondition to effectively identifying, assessing, and responding to the organization's risks.