IIA IIA-CIA-PART2 Online Practice Questions and Exam Preparation

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 991:

  Which of the following is the primary reason a chief audit executive should network with an organization's executives?

  A. To better understand and influence executives' planning.
  B. To make executives aware of the benefits that the internal audit activity can provide.
  C. To assist executives in setting the organization's risk appetite.
  D. To have a better understanding of the training needed to strengthen the audit team.
  B. To make executives aware of the benefits that the internal audit activity can provide.

• Question 992:

  An internal auditor uses a data query tool in the purchasing process to review the vendor master file for authorizations. Which of the following describes the control objective likely being tested?

  A. Effectiveness.
  B. Response.
  C. Efficiency.
  D. Mitigation.
  C. Efficiency.

• Question 993:

  Senior management of an organization has requested that the internal audit activity provide ongoing internal control training for all managerial personnel. This is best addressed by:

  A. A formal consulting engagement.
  B. An informal consulting engagement.
  C. A performance assurance engagement.
  D. An operational assurance engagement.
  A. A formal consulting engagement.

• Question 994:

  The objective of an upcoming engagement is to review the wind park projects and assess compliance with established project management principles. Which of the following is most likely to be the aim of the engagement work program?

  A. Evaluate the application of project management guidance in the development of wind parks.
  B. Identify key risks and mitigation plans pertaining to the management of wind parks.
  C. Assess whether development of wind parks is compliant with relevant legal acts and international best practices.
  D. Review the wind park development strategy and compare its goals with operational targets and metrics.
  A. Evaluate the application of project management guidance in the development of wind parks.

• Question 995:

  During a review to verify the organization's compliance with relevant health, safety, and environmental regulations, an internal auditor noted that waste oil was not being stored and safeguarded as required. The auditor captured evidence of this on his mobile phone. How should this evidence be handled?

  A. The internal auditor should ensure the phone is password protected to restrict access to the evidence.
  B. The pictures should be sent to relevant regulatory authorities as evidence of the breach.
  C. The internal auditor should transfer the pictures to the chief audit executive to be tied as evidence.
  D. The pictures should be sent to the CEO and senior management as evidence of the breach.
  A. The internal auditor should ensure the phone is password protected to restrict access to the evidence.

• Question 996:

  In which of following scenarios is the internal auditor performing benchmarking?

  A. The auditor compares information from one period with the same information from the prior period.
  B. The auditor compares new information to his general knowledge of the organization.
  C. The auditor compares information he collected with similar information from another source.
  D. The auditor compares expected outcomes with actual results.
  A. The auditor compares information from one period with the same information from the prior period.

• Question 997:

  An internal audit team was conducting an assurance engagement to review segregation of duties in the purchasing function. The internal auditors reviewed a sample of purchase orders from the past two years and discovered that 2 percent were signed by employees who were operating in a designated acting capacity due to employee absences. According to IIA guidance, which of the following attributes of information would most likely assist the auditors in deciding whether to report this finding?

  A. Sufficiency.
  B. Reliability.
  C. Relevance.
  D. Usefulness.
  D. Usefulness.

• Question 998:

  The internal audit activity's primary responsibility in a review or examination of the organization by an external regulatory body is to:

  A. Verify that regulatory reviews occur with adequate frequency.
  B. Provide follow-up to determine if the regulator's findings are appropriately resolved by management.
  C. Prepare documentation for the regulator.
  D. Document the responses to the regulator's findings.
  B. Provide follow-up to determine if the regulator's findings are appropriately resolved by management.

• Question 999:

  Upon the completion of an audit engagement, an audit manager performs a review of a staff auditor's workpapers. Which of the following actions by the manager is the most appropriate following this review?

  A. Communicate the workpaper review results to management of the area under review to validate the final report.
  B. Update the final report in the file with any necessary corrections based on the workpaper review.
  C. Discuss the workpaper review results with the staff auditor where appropriate, as a learning opportunity.
  D. Add the managers review notes to the final documentation following the review.
  C. Discuss the workpaper review results with the staff auditor where appropriate, as a learning opportunity.

• Question 1000:

  An internal auditor performed a high-level review of financial information, governance, risk management, and controls of a local marketing firm as part of the purchase decision process. What type of engagement did the auditor perform?

  A. Control self-assessment.
  B. Readiness review.
  C. Due diligence review.
  D. Third-party vendor audit.
  C. Due diligence review.