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

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 591:

  Which of the following is not a primary purpose for conducting a walk-through during the initial stages of an assurance engagement?

  A. To help develop process maps.
  B. To determine segregation of duties.
  C. To identify residual risks.
  D. To test the adequacy of controls.
  D. To test the adequacy of controls.

• Question 592:

  According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?

  A. Degree of effort and cost needed to correct the reported condition.
  B. Complexity of the corrective action.
  C. Impact that may result should the corrective action fail.
  D. Amount of resources required to conduct the follow-up activities.
  D. Amount of resources required to conduct the follow-up activities.

• Question 593:

  Which sampling plan requires no additional sampling once the first error is found?

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

• Question 594:

  In preparing to facilitate a control self-assessment session, an auditor would be least likely to ensure that:

  A. Key stakeholders are represented in the group.
  B. An independent content expert is available to help settle disagreements.
  C. Background research is completed to familiarize the auditor with relevant issues.
  D. Management is consulted on the issues and priorities.
  B. An independent content expert is available to help settle disagreements.

• Question 595:

  The chief audit executive (CAE) for a manufacturing company included in this year's audit plan a review of the company's laboratory, using an experienced external service provider. The audit plan was approved by the audit committee without any changes. At the time of engaging the external service provider, the CAE also secured the approval from the CEO. Who is responsible for ensuring that the conclusions reached for this exercise are adequately supported?

  A. Audit committee.
  B. СEO.
  C. CAE.
  D. External service provider.
  A. Audit committee.

• Question 596:

  An organization is expanding into a new line of business, selling natural gas. The internal auditor is planning an engagement and wants to obtain a general understanding of the natural gas market, the market share that the organization wants to win, and the competitive advantage that the organization may have. Which of the following would be the best source of such information?

  A. Interview responsible managers and read strategic documents.
  B. Conduct internet searches on gas sales and analyze market players.
  C. Review gas clients' portfolio and compile statistics on sales margins.
  D. Analyze the organization's revenues and calculate the proportion of gas.
  C. Review gas clients' portfolio and compile statistics on sales margins.

• Question 597:

  Which of the following conditions should a chief audit executive take into account when deciding if a follow-up audit engagement is necessary?

  The reported observations were significant and high risk.

  Internal audit resources and the time it will require for follow-up.

  Management may not have the resources to take action.

  Management has previously decided not to take any action.

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

• Question 598:

  What is the primary reason for having audit management approve audit engagement reports?

  A. To ensure that client concerns are appropriately addressed.
  B. To Confirm proper format, grammar, and punctuation.
  C. To verify that senior management supports the report's conclusions.
  D. To validate that report findings are substantiated.
  D. To validate that report findings are substantiated.

• Question 599:

  A healthcare organization's chief audit executive (CAE) noted that the organization's IT team relies heavily on a vendor. Therefore, an IT vendor assessment review was added to the annual audit plan. During the review, the audit team discovered that the vendor had not been performing proper monitoring to ensure that the subcontractors it hired comply with the organization's requirements. The organization's chief information officer (CIO) does not agree with the audit team's recommendation for the IT team to monitor the compliance level of vendor subcontractors. How should the audit team proceed to resolve this situation?

  A. Write a risk acceptance memo for the CIO to sign, acknowledging the observation and indicating a willingness to accept the risk.
  B. Provide an example of the attestation form that vendors must use. Then, recommend that the IT team require vendors to submit the attestation form on a regular basis.
  C. Escalate the issue to the audit committee, as the CIO is unwilling to implement the recommended action plan.
  D. Escalate the issue to the CAE to assess whether the CIO's reasoning is acceptable.
  D. Escalate the issue to the CAE to assess whether the CIO's reasoning is acceptable.

• Question 600:

  An internal auditor tested an application control designed to prevent sales tax from being charged to government agencies. The test revealed that three out of 52 invoices to government agencies included sales tax. Which of the following is an accurate description of the application control?

  A. Effective and aligned.
  B. Effective and effective.
  C. Effective but not aligned.
  D. Effective but not effective.
  B. Effective and effective.