IIA-CIA-Part3 Practice Questions
Internal Audit Function
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Total Questions : 791
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A chief audit executive (CAE) is calculating the available internal audit resource hours while planning the annual internal audit plan. The CAE needs to calculate the total number of hours available for audits. Which of the following should be deducted in order to have time available only for engagements?
Following an evaluation of an organization ' s IT controls, an internal auditor suggested improving the process where results are compared against the input. Which of the following IT controls would the Internal auditor recommend?
The internal audit function is instructed by the audit committee to assess and give an opinion annually on risk management process effectiveness. However, lacking in-house expertise, the chief audit executive (CAE) initially appoints an independent consultant to assist with this engagement. Which of the following approaches is the most appropriate?
What kind of strategy would be most effective for an organization to adopt in order to implement a unique advertising campaign for selling identical products across all of its markets?
To achieve conformance with the Global Internal Audit Standards, the chief audit executive must include which of the following activities in the quality assurance and improvement program (QAIP)?
The finance department of an organization recently undertook an asset verification exercise. The internal audit function scheduled a review of the IT department’s operations, which includes verifying the existence of computers distributed and their assignment. Can the internal audit function consider relying on the asset verification work performed by the finance department?
In accounting, which of the following statements is true regarding the terms debit and credit?
Which of the following best explains why an organization would enter into a capital lease contract?
An organization is testing its data recovery plan. The crisis scenario includes disruption to the internet and mobile connections and the need to recover the production management information system from a backup server. Since it is not possible to call a third-party service provider, an employee was sent to receive backup hard drives. However, the office of the service provider was closed, and the organization had to abort testing.
Which of the following has the organization failed to foresee in its recovery plan?
At an organization that uses a periodic inventory system, the accountant accidentally understated the organization s beginning inventory. How would the accountant ' s accident impact the income statement?
Which of the following describes a mechanistic organizational structure?
A new manager received computations of the internal rate of return regarding his project proposal. What should the manager compare the computation results to in order to determine whether the project is potentially acceptable?
Which approach should a chief audit executive take when preparing the internal audit plan?
Which of the following risks would Involve individuals attacking an oil company ' s IT system as a sign of solidarity against drilling in a local area?
A large retail customer made an offer to buy 10,000 units at a special price of $7 per unit. The manufacturer usually sells each unit for $10. Variable manufacturing costs are $5 per unit and fixed manufacturing costs are $3 per unit. For the manufacturer to accept the offer, which of the following assumptions needs to be true?
