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

IIA IIA-CIA-PART2 Online Questions & Answers

• Question 811:

  Which of the following parties is accountable for ensuring adequate support for conclusions and opinions reached by the internal audit activity while relying on external auditors' work?

  A. Board of directors.
  B. External auditors.
  C. Chief audit executive.
  D. Senior management.
  C. Chief audit executive.

• Question 812:

  According to the International Professional Practices Framework, which of the following should be excluded from a final communication for a performance audit engagement?

  A. Recommendations and conclusions.
  B. The internal auditor's unbiased opinion.
  C. Timely and relevant information.
  D. Legal opinions related to illegal acts.
  D. Legal opinions related to illegal acts.

• Question 813:

  An internal auditor submitted a report containing recommendations for management to enhance internal controls related to investments. To follow up, which of the following is the most appropriate action for the internal auditor to take?

  A. Observe corrective measures.
  B. Seek a management assurance declaration.
  C. Follow up during the next scheduled audit.
  D. Conduct appropriate testing to verify management responses.
  D. Conduct appropriate testing to verify management responses.

• Question 814:

  When internal auditors provide consulting services, the scope of the engagement is primarily determined by:

  A. Internal auditing standards.
  B. The audit engagement team.
  C. The engagement client.
  D. The internal audit activity's charter.
  C. The engagement client.

• Question 815:

  A code of business conduct should include which of the following to increase its deterrent effect?

  1.Appropriate descriptions of penalties for misconduct.

  2.A notification that code of conduct violations may lead to criminal prosecution.

  3.A description of violations that injure the interests of the employer.

  4.A list of employees covered by the code of conduct.

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

• Question 816:

  Which of the following represents a ratio that measures short term debt-paying ability?

  A. Debt-to-equity ratio.
  B. Profit margin.
  C. Current ratio.
  D. Times interest earned.
  C. Current ratio.

• Question 817:

  During the development of a purchasing system, an auditor reviewed the payment authorization program. Which of the following actions should the auditor recommend for a situation in which the quantity invoiced is greater than the quantity received?

  A. Issue an exception report.
  B. Pay the amount billed and adjust the inventory account for the difference.
  C. Return the invoice to the vendor for correction.
  D. Authorize payment of the full invoice, but maintain an open purchase order record for the missing goods.
  A. Issue an exception report.

• Question 818:

  An internal auditor plans to conduct a walk-through to evaluate the control design of a process. Which of the following techniques is the auditor most likely to use?

  A. Observation and inspection.
  B. Inquiry and observation.
  C. Inspection and reperformance.
  D. Inquiry and reperformance.
  B. Inquiry and observation.

• Question 819:

  How can the chief audit executive best provide the internal audit activity with the resources needed to fulfill the annual audit plan?

  A. Improve skills by strengthening staff competencies.
  B. Map the audit risk assessment to the organization's strategic plan.
  C. Collaborate with other risk management functions in the organization.
  D. Refine its audit processes according to the International Professional Practices Framework.
  A. Improve skills by strengthening staff competencies.

• Question 820:

  Which of the following offers the best evidence of workpaper review performed by an engagement supervisor?

  A. Regular verbal communications between the staff auditor and engagement supervisor, ensuring that review comments are addressed throughout the audit.
  B. A memorandum prepared by the engagement supervisor, which specifies the nature, extent, and results of the review.
  C. A meeting that includes the entire audit team and the engagement supervisor, enabling the entire team to hear directly from the engagement supervisor.
  D. Inclusion of applicable review comments in quarterly performance evaluation discussions between the staff auditor and the engagement supervisor.
  B. A memorandum prepared by the engagement supervisor, which specifies the nature, extent, and results of the review.