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

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 791:

  An organization has an opening for an entry-level internal audit position. When interviewing for the position, which of the following is the least important skill for an entry-level internal auditor?

  A. Conflict resolution skills.
  B. Communication skills.
  C. Time management skills.
  D. Interpersonal skills.
  A. Conflict resolution skills.

• Question 792:

  An engagement work program is of greatest value to audit management when which of the following is true?

  A. The work program provides more detailed support for the audit report.
  B. The work program helps determine the required amount of audit resources.
  C. The work program helps ensure the achievement of the engagement objectives.
  D. The work program assists the auditor in developing and managing audit tests.
  B. The work program helps determine the required amount of audit resources.

• Question 793:

  Which of the following activities is related to the supervision of an engagement?

  1.Review audit workpapers

  2.Draft the audit report

  3.Research industry benchmarks

  4.Create the annual audit plan

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

• Question 794:

  Which of the following best exemplifies having effective risk management and internal control processes?

  A. Relevant risk indicators and mitigation plans are in place
  B. All risks are identified and assessed
  C. Business profitability is likely to be achieved
  D. Risk information is communicated to customers and suppliers
  A. Relevant risk indicators and mitigation plans are in place

• Question 795:

  According to the Standards, which of the following would have the least direct interest in the draft report of a compliance review of the purchasing function?

  A. Purchasing staff.
  B. Purchasing manager.
  C. Director of finance.
  D. Audit committee.
  D. Audit committee.

• Question 796:

  During an interview with a manager in a company's claims department, an auditor noted that the manager became nervous and changed the subject whenever the auditor raised questions about certain types of claims. The manager's

  answers were consistent with company policies and procedures.

  When documenting the interview, the auditor should:

  A. Document the manager's answers, noting the nature of the nonverbal communication.
  B. Document the manager's answers but not the nonverbal communication because it is subjective and is not corroborated.
  C. Conclude that the nonverbal communication is persuasive and that sufficient evidence exists to begin a fraud investigation.
  D. Disregard the interview entirely because the verbal and nonverbal communications were contradictory.
  A. Document the manager's answers, noting the nature of the nonverbal communication.

• Question 797:

  Which of the following should be the focus of the effect section of the preliminary observations document?

  A. Residual risk.
  B. Inherent risk.
  C. Compensating controls.
  D. Control activities.
  D. Control activities.

• Question 798:

  An audit reveals that a manager's spouse is receiving paychecks, but is not employed by the organization. According to IIA guidance, which of the following actions should the internal auditor take?

  A. Contact the external auditor and provide all relevant documentation.
  B. Report the finding the senior management in a timely manner, following the normal chain of command.
  C. Meet with the local manager to obtain more information on the finding before taking further action.
  D. Bypass the normal chain of command and contact the board directly to report the finding.
  A. Contact the external auditor and provide all relevant documentation.

• Question 799:

  When conducting audit follow-up of a finding related to cash management routines, an internal auditor would expect to find that all of the following changes have occurred except:

  A. The steps being taken are resolving the condition disclosed by the finding.
  B. Inherent risk has been eliminated as a result of resolution of the condition.
  C. Controls have been implemented to deter or detect a recurrence of the finding.
  D. Benefits have accrued to the entity as a result of resolving the condition.
  B. Inherent risk has been eliminated as a result of resolution of the condition.

• Question 800:

  According to the Standards, which of the following objectives is not required to ensure the appropriate completion of an engagement?

  A. Determining audit team members are coordinated to ensure the efficient execution of all engagement procedures.
  B. Confirming engagement working papers properly support the observations, recommendations and conclusions.
  C. Providing structured learning opportunities for engagement auditors when and wherever possible.
  D. Ensuring all engagement objectives are reviewed for satisfactory achievement and properly documented.