IIA-CIA-Part2 Practice Questions
Internal Audit Engagement
Last Update 4 days ago
Total Questions : 747
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Which of the following statements concerning workpapers is the most accurate?
An internal auditor recommended that an organization implement computerized controls in its sales system in order to prevent sales representatives from executing contracts in excess of their delegated authority levels A follow-up review found that the sales system had not been modified, but a process had been implemented to obtain written approval by the vice president of sales for all contracts in excess of S1 million The chief audit executive (CAE) would be justified in reporting this situation to the organization ' s board under which of the tollowing circumstances ' ?
1. In the opinion of the CAE the level of residual risk assumed by senior management is too high
2. Testing of compliance with the new process finds that all new contracts in excess of $1 million have been approved by the vice president of sales
3. The cost of modifying the sales system to include a preventive control is less than S100.000
Which of the following would be the most effective fraud prevention control?
Which of the following statements generally true regarding audit engagement planning?
A team of internal auditors is assigned to audit the employee relations process in an organization, which includes employee conduct and disciplinary hearings. Which of the following audit approaches would provide the auditors with the best evidence to determine the degree to which disciplinary decisions are complying with documented policy?
An internal audit activity plans its engagements based on an organization-wide risk assessment. According to IIA guidance, which of the following statements is true regarding the required frequency of the risk assessment?
Which of the following statements best demonstrates application of due professional care during an assurance engagement?
An internal auditor has discovered that duplicate payments were made to one vendor. Management has recouped the duplicate payments as a corrective action. Which of the following describes management’s action in this case?
The internal audit activity has become aware of public complaints regarding the sales practices of telephone marketing personnel in a large organization. The internal auditors decide to review a sample of all complaints within the last three months to ensure they are reflective of current marketing practices. Which of the following best describes this sampling technique?
The chief audit executive (CAE) of a small internal audit activity (IAA) plans to test conformance with the Standards through a quality assurance review. According to the Standards, which of the following are acceptable practice for this review?
1. Use an external service provider.
2. Conduct a self-assessment with independent validation.
3. Arrange for a review by qualified employees outside of the IA
A.
4. Arrange for reciprocal peer review with another CA
E.
According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?
According to IIA guidance, when of the Mowing statements is true regarding an engagement supervisor ' s use of review notes?
The internal audit function is performing an assurance engagement on the organization’s environmental, social, and governance (ESG) program. The engagement objective is to determine whether the ESG program’s activities are meeting the program’s established goals. The internal audit function has completed a risk and control assessment of the ESG program ' s activities. What is the appropriate next step?
An accounts payable clerk has recently transferred into the internal audit activity and has been assigned to an engagement related to accounts payable processes for which he was previously responsible Which of the following is the best action for the new internal auditor to take?
