IIA-CIA-Part1 Practice Questions

A.  

The internal audit activity uses key performance indicators for all staff members after all audit engagements.

B.  

The internal auditors provide assurance to third parties indicating that their work was properly supervised.

C.  

The internal auditors demonstrate they have an understanding of engagement objectives and scope.

D.  

The internal auditors are heavily involved in training and development to enhance their skills.

A.  

Testing an entire population, even when a sample would suffice

B.  

Using technology and data analysis techniques for efficiency

C.  

Enhancing knowledge, skills, and other competencies through professional development

D.  

Establishing audit objectives, performing audit tests, and implementing missing controls

A.  

Reduction.

B.  

Avoidance.

C.  

Sharing.

D.  

Acceptance.

A.  

Processes employed by internal and external assurance providers to authorize, direct, and provide oversight to management to better enable the meeting of organizational objectives

B.  

Processes employed by the board of directors to authorize and provide guidance and oversight to management to promote the achievement of organizational objectives.

C.  

Processes employed by the board of directors and senior management to mitigate risks to acceptable levels.

D.  

Processes employed by risk owners to mitigate risks to acceptable levels within the organization's risk appetite

A.  

Encourage the auditor to continue this practice, as it demonstrates objectivity.

B.  

Encourage the auditor to improve communication skills.

C.  

Encourage the auditor to conduct post-engagement surveys to obtain the audit client's position on the issues raised.

D.  

Encourage the auditor to sign the draft reports before submitting them.

A.  

Approval of master file change requests by the accounts payable supervisor

B.  

Comparison of the check register to original invoices.

C.  

Segregation of duties between accounts payable and the cashier.

D.  

Frequent issuance of account statements sent to the vendors.

A.  

To provide guidance and solicit feedback on managing the internal audit activity as expected by various stakeholders.

B.  

To provide an understanding of the Mission of Internal Audit and The IIA's mandatory guidance elements.

C.  

To provide an update on the internal audit activity's quality of engagement supervision.

D.  

To provide information on existing internal audit planning, changes to the internal audit plan, and the rationale for the changes

A.  

The assessment will cover soft controls and company values.

B.  

The assessment will focus on the policy for a particular process.

C.  

The assessment will lack a defined scope

D.  

The assessment will probably uncover fraud risks.

A.  

Working conditions.

B.  

Employees' families.

C.  

Marketplace competition.

D.  

Shareholders and investors

A.  

The internal auditor s denied access to partner information from management of me area under review

B.  

The internal auditor tarts to disclose a potential conflict of interest relationship with management of the area under review

C.  

The internal auditor concludes that controls operate effectively, although he did not gather supporting evidence

D.  

The internal auditor was assigned to an assurance review of an area for which he previously had responsibilities

A.  

A plan to study for and obtain a certification in nonprofit management.

B.  

A deadline within the individual development plan to meet the overall engagement objectives.

C.  

A plan to perform a variety of engagements to develop general skills that could be used to assess environmental, social, and governance initiatives.

D.  

A request to attend the organization's committee meeting that is focused on strategic community awareness.

A.  

Supervisors provide feedback to internal auditors after workpapers are reviewed

B.  

A self-assessment is conducted through the quality assurance and improvement program every five years

C.  

Internal auditors are required to give absolute assurance of regulatory compliance

D.  

The chief audit executive reports functionally to the board

A.  

Asset misappropriation.

B.  

Skimming

C.  

Corruption.

D.  

Lapping.

A.  

Payroll fraud

B.  

Disbursement fraud

C.  

Corruption

D.  

Information misrepresentation

A.  

Senior management

B.  

Internal audit activity.

C.  

All employees.

D.  

Board of directors.