IIA-CIA-Part1 Practice Questions
Internal Audit Fundamentals
Last Update 2 days ago
Total Questions : 735
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Which of the following actions is the internal audit activity best positioned within the organization to perform?
A subsidiary of the organization was preparing for an initial public offering (IPO). Af the request of the audit committee, the chief audit executive (CAE) and all senior audit staff were actively involved in the process by helping collect and validate financial data, conducting assessments, and participating in meetings with IPO advisors. Six months later, it became obvious that the IPO had to be canceled. Newly appointed audit committee members requested an assurance engagement that v/ould assess the IPO preparation process. Which of the following would be the best course of action for the chief audit executive (CAE) to take?
Which of the following principles of The IIA ' s Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?
Which of the following scenarios would most significantly restrict the areas where internal audit could perform assurance services?
According to the IIA Code of Ethics, which of the following best describes the conduct of an internal auditor who demonstrates the principle of competency?
Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?
Which should the internal auditor first consider when assessing fraud risks during an engagement?
The organization s procurement manager asks the internal auditor to deliver training to the procurement team on the organization’s third-party risk management process. Which of the following is the most appropriate response?
In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?
The chief audit executive (CAE) of a large organization has been asked by the board to assume responsibility for risk management and compliance operations, both of which are distinct departments within the organization and are subject to periodic audits by the internal audit activity In regards to future audits of these functions which of the following approaches would be most appropriate?
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?
Applying ISO 31000, which of the following is part of the external context for risk management?
According to IIA guidance, which of the following is true of the internal audit activity’s quality assurance and improvement program?
1 Monitoring the internal audit activity’s performance must be ongoing
2 All aspects of the internal audit activity should be evaluated
3 The requirement for external assessments can be satisfied through self-assessments that are validated by an independent external party
4 The review of assurance services should be the primary focus
