IIA IIA-CIA-PART3 Online Practice Questions and Exam Preparation

IIA IIA-CIA-PART3 Online Questions & Answers

• Question 961:

  Which of the following are common techniques for effective time management?

  A. Finding out how much time is worth II. Developing an action plan III. Learning to say "No"
  B. I only.
  C. I and II only.
  D. II and Ill only.
  E. I, II, and Ill.
  D. II and Ill only.

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  Explanation

  All three techniques listed are common and effective strategies for time management:

  Finding out how much time is worth:

  Understanding the value of your time helps prioritize activities and allocate resources effectively. It encourages focusing on high-value tasks and reducing time spent on low-value activities.

  Developing an action plan:

  Creating a detailed plan ensures tasks are organized, deadlines are met, and goals are achieved. It provides structure and prevents procrastination.

  Learning to say "No":

  Saying "no" to non-essential tasks or distractions allows more focus on priority activities. It's an essential skill to avoid over-commitment and maintain control of your time.

• Question 962:

  When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:

  A. Identifying risks to the organization's operations.
  B. Observing and analyzing controls.
  C. Prioritizing known risks.
  D. Reviewing organizational objectives.
  D. Reviewing organizational objectives.

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  Explanation

• Question 963:

  Which of the following is the most appropriate test to assess the privacy risks associated with an organization's workstations?

  A. Penetration test.
  B. Social engineering test.
  C. Vulnerability test.
  D. Physical control test.
  D. Physical control test.

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  Explanation

• Question 964:

  An organization allows employees to use mobile devices for business purposes.

  Which of the following could cause decreased employee productivity in case of data loss?

  A. Malware resulting in data leakage.
  B. Exposure of sensitive data.
  C. Lack of data encryption.
  D. Lack of data back up.
  D. Lack of data back up.

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  Explanation

• Question 965:

  Which of the following should software auditors do when reporting internal audit findings related to enterprisewide resource planning?

  A. Draft separate audit reports for business and IT management.
  B. Connect IT audit findings to business issues.
  C. Include technical details to support IT issues.
  D. Include an opinion on financial reporting accuracy and completeness.
  A. Draft separate audit reports for business and IT management.

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  Explanation

• Question 966:

  A newly appointed chief audit executive (CAE) reviews current reporting practices. The CAE notices that exit meetings tend to be unproductive. When internal auditors present summaries of observations, engagement clients consistently complain that they do not understand where the observations come from.

  Which of the following could improve this situation?

  A. Send summaries of observations in advance of exit meetings and ask engagement clients to review them ahead of time
  B. Establish the purpose of exit meetings as for presentation of observations only and request that all disagreements are submitted in writing afterwards
  C. Read the entire draft internal audit report together with the clients at the exit meeting to eliminate any disputes
  D. Discontinue exit meetings, as they have proved to be ineffective and unproductive
  A. Send summaries of observations in advance of exit meetings and ask engagement clients to review them ahead of time

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  Explanation

  Exit meetings are intended to ensure that engagement clients clearly understand the observations, conclusions, and recommendations of the internal audit activity. The IIA's International Standards for the Professional Practice of Internal

  Auditing emphasize that communication should be clear, constructive, and timely. Providing engagement clients with written summaries of the observations before the exit meeting allows them to review the facts, prepare questions, and

  understand the basis for the observations. This preparation improves dialogue, reduces confusion, and increases the effectiveness of the meeting.

  Option B is less effective because it limits client engagement and postpones resolution of disagreements. Option C is impractical, as reading the full draft report during the meeting is time-consuming and may overwhelm clients. Option D

  eliminates the opportunity for discussion and relationship building with management, which is a critical part of audit communication.

  IIA's International Standards for the Professional Practice of Internal Auditing (Standards 2400 -Communicating Results, Practice Advisory 2410-2).

• Question 967:

  A substantial duplication of functions characterizes which of the following structures?

  A. Simple structure.
  B. Divisional structure.
  C. Machine bureaucracy.
  D. Professional bureaucracy.
  B. Divisional structure.

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  Explanation

  A division is essentially a self-contained organization. Hence, it must perform all or most of the functions of the overall organization of which it is a part. It is characterized by substantial duplication of functions when compared with more centralized structures.

• Question 968:

  A manager has difficulty motivating staff to improve productivity, despite establishing a lucrative individual reward system. Which of the following is most likely the cause of the difficulty?

  A. High degree of masculinity.
  B. Low uncertainty avoidance.
  C. High collectivism.
  D. Low long-term orientation.
  C. High collectivism.

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  Explanation

• Question 969:

  Which of the following is the most appropriate way to record each partner's initial investment in a partnership?

  A. At the value agreed upon by the partners.
  B. At book value.
  C. At fair value.
  D. At the original cost.
  A. At the value agreed upon by the partners.

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  Explanation

  https://www.slideshare.net/ArthikDavianti/accounting-for-partnership-46681465

• Question 970:

  Under "groupthink,"

  A. There is a tendency to conform to the majority's will and to ignore relevant individual input that is at variance with group opinion.
  B. The group is not required to reach consensus.
  C. The extent of groupthink is proportional to the size of the group.
  D. There are too many alternatives to facilitate decision making.
  A. There is a tendency to conform to the majority's will and to ignore relevant individual input that is at variance with group opinion.

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  Explanation

  Groupthink is the tendency to conform to the majority's will when individual input is at variance with the group opinion. Groupthink is a cause of faulty decision making in a group. Groups may not consider all alternatives because they desire unanimity at the expense of quality decisions. Groupthink occurs when groups are highly cohesive and under considerable pressure to make a decision.