IIA-CIA-Part1 Practice Questions

A.  

The initial review of workpapers should be conducted after the final engagement report is issued.

B.  

Independent internal assessments of the internal audit activity should be performed by entry-level staff as part of on-the-job training.

C.  

Internal audit staff should be informed regularly of changes to policies and procedures.

D.  

Training documents should be destroyed at the end of the year to create space for the next year ' s training documents.

A.  

The chief audit executive reports to senior management for compensation decisions and communications of audit results to the board

B.  

Final reports from consulting engagements show the summary of findings, and the internal auditor’s advice is clearly distinct and separate from management ' s decisions

C.  

Internal auditors rotate through operations and management positions then perform audit engagements on these areas to ensure timely application of their knowledge

D.  

Due to limited resources, internal auditors prioritize assurance on internal controls and risk management and exclude evaluating governance processes, which are deemed outside of their core responsibilities

A.  

To ensure all internal audit responsibilities can be met

B.  

To ensure all audit staff members are capable of performing a quality self-assessment.

C.  

To ensure that each auditor maintains responsibility for his own professional development.

D.  

To attract the best and most talented candidates in the profession

A.  

It is best if the mentor is the chief audit executive.

B.  

Mentor meeting documentation should be retained in personnel files.

C.  

It should target both new hires and highly experienced staff.

D.  

Meetings with mentors should be formal and scheduled.

A.  

The auditor should increase the sample size to determine the extent ol the fraud.

B.  

The suspicions should be communicated to the chief audit executive.

C.  

The testing should be completed with the results reported in the final audit report.

D.  

A fraud investigator should examine the evidence and report back to the auditor.

A.  

Pursuance of an internal audit certification.

B.  

Enrollment in internal audit practice webinars.

C.  

Attendance of internal audit workshops.

D.  

Involvement in a variety of audit assignments.

A.  

Pressure or incentive.

B.  

Opportunity.

C.  

Rationalization.

D.  

Commitment.

A.  

It should be written with primary consideration given to using a rule-based approach.

B.  

It should be of two variations: one applicable internally and one applicable for third parties.

C.  

Its operational effectiveness cannot be tested using traditional audit and rating systems such as maturity models.

D.  

It should require an annual attestation of compliance with the code of conduct by all employees.

A.  

A performance audit.

B.  

A sensitive fraud investigation.

C.  

A compliance audit

D.  

A consulting service.

A.  

Statistical sampling techniques should always be used to pull unbiased sampling for testing.

B.  

Fieldwork completed by internal auditors should be appropriately reviewed.

C.  

Internal auditors should avoid using the lunch room simultaneously with audit clients.

D.  

During the audit review period, there should be no nonaudit dialogues with the audit client.

A.  

Planning and supervising engagements

B.  

Evaluating the quality of supervision

C.  

Identifying opportunities for improvement m internal audit ' s processes and procedures

D.  

Determining if the objectives of QAIP are current

A.  

Responsible for implementing CSR principles and overseeing of CSR performance.

B.  

Responsible for performing periodic internal self-verifications of reported CSR results.

C.  

Responsible for performing analysis and comparison of CSR reports and performance.

D.  

Responsible for ongoing CSR reporting and accomplishing of performance targets.

A.  

The total time spent to accomplish the external assessment

B.  

The detailed evaluation results of the external assessment

C.  

The competency and independence of the external assessment team

D.  

The timetable and schedule of the next external assessment

A.  

A relative of an internal audit team member works m a department being reviewed

B.  

The internal audit budget is reduced by management requiring the removal of all lT-related engagements from the audit plan

C.  

An audit manager removes a finding from the draft report due to disagreements with the chief financial officer

D.  

The operating effectiveness of a control is reported as ' satisfactory. " because no concerns were identified during planning

A.  

Residual.

B.  

Net.

C.  

Inherent.

D.  

Accepted.