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

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 551:

  Which of the following tools can an internal auditor use to prioritize risks?

  A. Heat map.
  B. Differential matrix.
  C. Ishikawa diagram.
  D. Spaghetti diagram.

• Question 552:

  A number of corrective actions have been agreed to by operational management but have not yet been implemented. According to IIA guidance, which of the following would be the most relevant factor in determining the timing for follow-up review of these recommendations?

  A. The internal auditor's professional judgment regarding the severity of the issue.
  B. The follow-up requirements as mandated by the internal audit charter.
  C. The availability of management to meet with the internal auditor.
  D. The length of time until the next scheduled audit of the area.
  A. The internal auditor's professional judgment regarding the severity of the issue.

• Question 553:

  Which of the following best describes how an internal auditor would use a owchart during engagement planning?

  A. To prepare for testing the effectiveness of controls.
  B. To plan for evaluating potential losses.
  C. To prepare a sampling plan for the engagement.
  D. To evaluate the design of controls.
  D. To evaluate the design of controls.

• Question 554:

  An internal auditor discovered a control weakness that needs to be communicated to management. Which of the following is the best method for first communicating the weakness?

  A. Draft report, to be reviewed by management just prior to final report issuance.
  B. Preliminary observation document, discussed during the engagement.
  C. Final report, after review by audit management.
  D. Verbal communication during the engagement, followed by the final report issuance.
  D. Verbal communication during the engagement, followed by the final report issuance.

• Question 555:

  Which of the following would most likely include recommendations for process improvements? Due diligence engagement.

  Forensic investigation.

  Internal audit engagement.

  Consulting engagement.

  A. 1, 2, and 3 only
  B. 1, 2, and 4 only
  C. 1, 3, and 4 only
  D. 2, 3, and 4 only
  D. 2, 3, and 4 only

• Question 556:

  A senior IT auditor is performing an audit of inventory valuation. The auditor misinterprets the sampling results. Which of the following best describes this situation?

  A. Sampling risk.
  B. Control risk.
  C. Nonsampling risk.
  D. Residual risk.
  C. Nonsampling risk.

• Question 557:

  Which of the following would be most likely found in an internal audit procedures manual?

  A. A summary of the strategic plan of the area under review.
  B. Appropriate response options for when findings are disputed by management.
  C. An explanation of the resources needed for each engagement.
  D. The extent of the auditor's authority to collect data from management.
  D. The extent of the auditor's authority to collect data from management.

• Question 558:

  According to IIA guidance, which of the following are potential Benefits of using an assurance map?

  A. Indication of any gaps in assurance coverage, and improved relevance of assurance recommendations.
  B. identification of duplicate or overlapping assurance activities, and improved relevance of assurance recommendations.
  C. Indication of gaps in assurance coverage, and enhanced effectiveness of assurance providers.
  D. Enhanced effectiveness of assurance providers, and improved relevance of assurance recommendations.
  C. Indication of gaps in assurance coverage, and enhanced effectiveness of assurance providers.

• Question 559:

  An internal auditor tested whether purchase orders were supported by appropriately approved purchase requisitions. She sampled a population of purchase documents and identified instances where purchase requisitions were missing.

  However, she did not notice that in some cases purchase requisitions were approved by an unauthorized person.

  Which of the following risks most appropriately describes this situation?

  A. Nonsampling risk.
  B. Sampling risk.
  C. Inherent risk.
  D. Due diligence risk.
  B. Sampling risk.

• Question 560:

  Which of the following statistical sampling approaches is most appropriate for testing the invoice approval process in a large organization with various approval matrices and different financial limits?

  A. Stop-or-go sampling.
  B. Stratified attribute sampling.
  C. Discovery sampling.
  D. Haphazard sampling.
  B. Stratified attribute sampling.