Summer Sale Limited Time 65% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: 65pass65

IIA-CIA-Part2 Internal Audit Engagement is now Stable and With Pass Result | Test Your Knowledge for Free

Exams4sure Dumps

IIA-CIA-Part2 Practice Questions

Internal Audit Engagement

Last Update 4 days ago
Total Questions : 747

Dive into our fully updated and stable IIA-CIA-Part2 practice test platform, featuring all the latest CIA exam questions added this week. Our preparation tool is more than just a IIA study aid; it's a strategic advantage.

Our free CIA practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about IIA-CIA-Part2. Use this test to pinpoint which areas you need to focus your study on.

IIA-CIA-Part2 PDF

IIA-CIA-Part2 PDF (Printable)
$54.25
$154.99

IIA-CIA-Part2 Testing Engine

IIA-CIA-Part2 PDF (Printable)
$59.5
$169.99

IIA-CIA-Part2 PDF + Testing Engine

IIA-CIA-Part2 PDF (Printable)
$74.55
$212.99
Question # 151

An internal auditor wants to test the processing logic of a computer application during a specific period to ensure consistent processing of transactions. Which of the following is the best approach to achieve the objective of the test?

Options:

A.  

Utility software

B.  

Integrated test facility

C.  

Parallel simulation

D.  

Generalized audit software

Discussion 0
Question # 152

Which of the following is more likely to be present in a highly centralized organization?

Options:

A.  

The ability to make rapid changes

B.  

Micromanagement

C.  

Empowered employees

D.  

Authority pushed downward

Discussion 0
Question # 153

During the review of an organization ' s retail fraud deterrence program, an employee mentions that an expensive fraud surveillance information system is rarely used. The internal auditor concludes that additional staff are required to properly utilize the system to its full potential. According to IIA guidance, which criteria for evidence is most lacking to reach this conclusion?

Options:

A.  

Sufficiency.

B.  

Reliability.

C.  

Relevancy.

D.  

Usefulness.

Discussion 0
Question # 154

To which of the following aspects should the chief audit executive give the most consideration while communicating an identified unacceptable risk to management?

Options:

A.  

The organization ' s attitude to hierarchy

B.  

The organization ' s whistleblowing strategy

C.  

The organization ' s ongoing risk monitoring process

D.  

The organization ' s risk management policy

Discussion 0
Question # 155

Which statistical sampling approach would an internal auditor typically utilize if she wishes to test for fraud and the expected deviation rate is very low?

Options:

A.  

Stratified sampling

B.  

Attribute sampling

C.  

Discovery sampling

D.  

Haphazard sampling

Discussion 0
Question # 156

According to IIA guidance, which of the following statements is false regarding a review of the controls in place to prevent fraud?

Options:

A.  

The review should focus on the efficiency of the controls in place to prevent fraud.

B.  

The scope of the review does not need to include all operating areas of the organization.

C.  

The cost of the control should be compared to the benefit of mitigating the related risk.

D.  

The review should assess whether the internal controls can be circumvented.

Discussion 0
Question # 157

Which of the following is the next step in understanding a business process once an internal auditor has identified the process?

Options:

A.  

Determine process outputs.

B.  

Determine process inputs.

C.  

Determine process activities.

D.  

Determine process goals.

Discussion 0
Question # 158

Which of the following actions best describes an internal auditor ' s use of test data to determine whether an organization ' s new accounts payable system avoids processing questionable invoices for payment?

Options:

A.  

Creating an automated tool that monitors the computer program on a daily basis for potential issues that need corrective actions.

B.  

Using an automated system that assists internal auditors with automating the risk analysis of the computer program for invoicing

C.  

Embedding tools in the computer program to analyze the review processes of invoices for potential issues that may hamper payments

D.  

Adding invoices to the computer program to assess the reliability and effectiveness of the review process and whether controls work.

Discussion 0
Question # 159

A chief audit executive (CAE) following up on action plans from previously completed audits identifies that management has determined that certain action plans are no longer necessary If the CAE disagrees with management ' s decision, which of the following is the most appropriate next step for the CAE to take?

Options:

A.  

The CAE must discuss the matter with senior management

B.  

The CAE must discuss the matter with key shareholders

C.  

The CAE must discuss the matter with legal counsel

D.  

The CAE must discuss the matter with the board

Discussion 0
Question # 160

Which of the following information is most appropriate for the chief audit executive to share when coordinating audit plans with other internal and external assurance providers?

Options:

A.  

Objectives scope and timing at a high level to support coordination while adhering to confidentiality requirements

B.  

The area and timing of the audit engagement to ensure confidentially and avoid conflict of interest.

C.  

All plan information, including risk assessments, planned tests and past results to maximize the opportunity for coordination with internal and external providers.

D.  

No information should be shared with internal and external provider as it could introduce bias into the engagement results.

Discussion 0
Question # 161

Which of the following is not an outcome of control self-assessment?

Options:

A.  

Informal, soft controls are omitted, and greater focus is placed on hard controls.

B.  

The entire objectives-risks-controls infrastructure of an organization is subject to greater monitoring and continuous improvement.

C.  

Internal auditors become involved in and knowledgeable about the self-assessment process.

D.  

Nonaudit employees become experienced in assessing controls and associating control processes with managing risks.

Discussion 0
Question # 162

During a review of the treasury function an internal auditor identified a risk that all bank accounts may net to include in the daily reconciliation process.

Which of the following responses would be most effective to mitigate this risk?

Options:

A.  

The treasury supervisor establishes a threshold for amounts on bank statements to be reconciled against data in the system

B.  

The treasury analyst performs a daily reconciliation of al bank statements obtained via email against data in the system

C.  

The treasury analyst reviews a daily report automatically generated by the treasury system, which shows bank statements that have not been uploaded into the accounting system.

D.  

The treasury supervisor seeks an annual confirmation from the bank regarding the bank statements processed within a year

Discussion 0
Question # 163

Which of the following is an appropriate documentation of proper engagement supervision?

Options:

A.  

A completed engagement workpaper review checklist.

B.  

The supervisor ' s review notes on engagement workpapers.

C.  

The email exchanges between the audit team and the supervisor.

D.  

A supervisor ' s approval of resources allocated to the engagement

Discussion 0
Question # 164

In which of the following situations would an internal control questionnaire best suit the internal auditor ' s purpose?

Options:

A.  

The auditor wants to receive mid-level management insight on how to improve hiring practices.

B.  

The auditor wants to obtain information on whether adherence to approval matrices is actually taking place in different maintenance units.

C.  

The auditor wants to gain assurance that inventory counts are conducted in accordance with established procedures.

D.  

The auditor wants to assess whether different subsidiaries apply centrally established procurement rules in the same manner.

Discussion 0
Question # 165

An internal auditor is assigned to validate calculations on the organization ' s building application As pad of the test the internal auditor is required to use an automated audit tool to simulate transactions for testing. Which of the following would most appropriately be used for this purpose?

Options:

A.  

Generalized audit software.

B.  

Utility software

C.  

integrated test facilities

D.  

Audit expert systems

Discussion 0
Get IIA-CIA-Part2 dumps and pass your exam in 24 hours!

Free Exams Sample Questions