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

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 781:

  An internal auditor is using the ve-attribute approach to document defficiencies in a warehouse shipping process. Which of the following five attributes will be included in the workpapers?

  A. Risk, impact, likelihood, existing control, recommendation.
  B. Condition, criteria, cause, effect, recommendation.
  C. Condition, cause, effect, test, result.
  D. Risk, impact, test, result, recommendation.
  B. Condition, criteria, cause, effect, recommendation.

• Question 782:

  According to IIA guidance, which of the following strategies would add the least value to the achievement of the internal audit activity's (IAA's) objectives?

  A. Align organizational activities to internal audit activities and measure according to the approved IAA performance measures.
  B. Establish a periodic review of monitoring and reporting processes to help ensure relevant IAA reporting.
  C. Use the results of IAA engagement and advisory reporting to guide current and future internal audit activities.
  D. Establish a format and frequency for IAA reporting that is appropriate and aligns with the organization's governance structure.
  A. Align organizational activities to internal audit activities and measure according to the approved IAA performance measures.

• Question 783:

  When auditing an organization's cash-handling activities, which of the following is the most reliable form of testimonial evidence an internal auditor can obtain?

  A. Testimony from the cashier who performs the processes being reviewed.
  B. Testimony from the cashier's supervisor, who knows how processes should be performed.
  C. Testimony from a knowledgeable person who is independent of the cashiering duty.
  D. Testimony from a manager who oversees all cashiering activities being reviewed.
  C. Testimony from a knowledgeable person who is independent of the cashiering duty.

• Question 784:

  Which of the following would be the most important reason for the chief audit executive (CAE) to use inputs from management strategy to update the audit universe?

  A. The audit charter requires the CAE to update the audit universe before embarking on the selection of potential audit engagements.
  B. The CAE wants to consider the organization's strategic plan including attitude toward risk and the degree of difficulty to achieving planned objectives.
  C. The CAE wants to cover management planned activities for the upcoming year in the audit plan.
  D. The CAE wants to determine internal audit resourcing requirements to cover the organization's major processes and activities over time.
  B. The CAE wants to consider the organization's strategic plan including attitude toward risk and the degree of difficulty to achieving planned objectives.

• Question 785:

  The internal auditor is asked to conduct an investigation involving a suspected fraud. According to the Standards, which of the following statements regarding the investigation process is false?

  A. The auditor should use anonymous surveys of coworkers to assess the character and behavior of the suspect.
  B. The auditor must give consideration to the risk of unidentified co-conspirators whether indications exist or not.
  C. The auditor should not limit the collection of information by prejudging its relevance to the investigation.
  D. The auditor must consider the risk that audit procedures may inadvertently violate the rights of the suspect.
  A. The auditor should use anonymous surveys of coworkers to assess the character and behavior of the suspect.

• Question 786:

  Organization A is planning to merge with organization B and is requesting its internal audit activity to conduct a due diligence audit on organization

  B. Which of the following could be an engagement objective in this scenario?

  A. To assess the risk profile and risk management processes of organization
  C. To assure that adequate controls have been embedded in the IT systems of organization
  D. To ensure organization B is in compliance with its internal policies.
  A. To assess the risk profile and risk management processes of organization

• Question 787:

  According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

  A. It documents the audit steps and procedures to be performed.
  B. It documents preliminary information useful to the audit team.
  C. It documents events that could hinder the achievement of process objectives.
  D. It documents existing measures that manage risks in the area under review.
  B. It documents preliminary information useful to the audit team.

• Question 788:

  While reviewing a workpaper, the engagement supervisor noticed a questionable transaction. He wanted to learn more about the transaction, and decided to go to the source where the internal auditor obtained the transaction information. Which of the following items, documented in the workpaper, would best guide the supervisor to obtain more information about the questionable transaction?

  A. Number of the document, type of transaction, and date the information was provided.
  B. Name of the document, name of the person who provided the document, and date the information was provided.
  C. Type of transaction, purpose of the transaction, and date when the transaction occurred.
  D. Name of the department, type of transaction, and purpose of the transaction.
  B. Name of the document, name of the person who provided the document, and date the information was provided.

• Question 789:

  A chief audit executive (CAE) following up on action plans from previously completed audits identifies that management has determined that certain action plans are no longer necessary. If the CAE disagrees with management's decision, which of the following is the most appropriate next step for the CAE to take?

  A. The CAE must discuss the matter with senior management.
  B. The CAE must discuss the matter with key shareholders.
  C. The CAE must discuss the matter with legal counsel.
  D. The CAE must discuss the matter with the board.
  C. The CAE must discuss the matter with legal counsel.

• Question 790:

  An internal auditor is designing an ethics survey. How should the auditor begin?

  A. Determine the most appropriate number of ethics questions.
  B. Obtain approval from the ethics committee.
  C. Determine what information needs to be learned related to ethics.
  D. Determine how the survey will be administered.
  C. Determine what information needs to be learned related to ethics.