IIA-CIA-Part2 Practice Questions
Internal Audit Engagement
Last Update 4 days ago
Total Questions : 747
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Which of the following is an advantage of utilizing an external fraud specialist in a suspected fraud investigation?
While reviewing the workpapers and draft report from an audit engagement, the chief audit executive (CAE) found that an important compensating control had not been considered adequately by the audit team when it reported a major control weakness. Therefore, the CAE returned the documentation to the auditor in charge for correction. Based on this information, which of the following sections of the workpapers most likely would require changes?
Effect of the control weakness.
Cause of the control weakness.
Conclusion on the control weakness.
Recommendation for the control weakness.
During follow-up. the internal auditor discovered that operational management did not implement effective actions to address a significant control breach If the issue is left unresolved it may result in regulatory sanctions and damage the organization ' s reputation What is the most appropriate next step for the chief audit executive to lake?
The internal audit activity has requested that new vendor information be summarized once per week in a single report, and that all invoices each week for these vendors be automatically flagged in the invoice processing system. Which of the following computerized audit techniques is the internal audit activity most likely applying?
Which procedure should an internal auditor perform to determine the audit objective?
Which of the following best demonstrates that the internal audit activity is using due professional care?
Which of the following components should be included in an audit finding?
1. The scope of the audit.
2. The standard(s) used by the auditor to make the evaluation.
3. The engagement ' s objectives.
4. The factual evidence that the internal auditor found in the course of the examination.
An organization must maintain a current ratio of at least 1.2 to comply with debt covenants. Its current ratio is now 0.9. Which year-end transaction can increase the current ratio?
Which of the following is most likely the subject of a periodic report from the chief audit executive to the board?
In which of the following populations would the internal auditor most likely choose to use a stratified sampling approach?
While performing fieldwork for an assurance engagement, a member of the internal audit team identified a key control that was not identified during the planning phase of the engagement Which of the following actions by the internal auditor would be most appropriate?
An internal auditor e assessing the design of a control and has identified a potential significant weakness. The auditor shared his concern with management however management does not agree that the weakness is significant. What should the internet auditor do next?
An organization obtains maintenance personnel from a third-party service provider. The third-party service provider submits monthly timetables of contracted maintenance personnel and bills the organization on an hourly basis. Which of the following will most likely help an internal auditor validate the number of hours billed by the third-party service provider?
According to IIA guidance which of the following statements is true regarding heat maps?
Which of the following activities demonstrates an example of the chief audit executive performing residual risk assessment?
