IIA-CIA-Part3 Practice Questions
Internal Audit Function
Last Update 5 days ago
Total Questions : 514
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If an organization has a high amount of working capital compared to the industry average, which of the following is most likely true?
An internal auditor considers the financial statement of an organization as part of a financial assurance engagement. The auditor expresses the organization's electricity and depreciation expenses as a percentage of revenue to be 10% and 7% respectively. Which of the following techniques was used by the internal auditor In this calculation?
Which of the following controls would be the most effective in preventing the disclosure of an organization's confidential electronic information?
An organization has 1,000 units of a defective item in stock. Per unit, market price is $10; production cost is $4; and the defect selling price is $5. What is the carrying amount (inventory value) of defects at year-end?
An internal auditor observed that the organization's disaster recovery solution will make use of a cold site in a town several miles away. Which of the following is likely to be a characteristic of this disaster recovery solution?
Which of the following describes a mechanistic organizational structure?
Which of the following is a limitation of the remote wipe for a smart device?
Which type of bond sells at a discount from face value, then increases in value annually until it reaches maturity and provides the owner with the total payoff?
During the second half of the audit year, the chief audit executive (CAE) identified significant negative variances to the approved audit budget required to complete the internal audit plan. Which of the following actions should the CAE take?
For which of the following scenarios would the most recent backup of the human resources database be the best source of information to use?
Which of the following principles s shared by both hierarchies and open organizational structures?
1. A superior can delegate the authority to make decisions but cannot delegate the ultimate responsibility for the results of those decisions.
2. A supervisor's span of control should not exceed seven subordinates.
3. Responsibility should be accompanied by adequate authority.
4. Employees at all levels should be empowered to make decisions.
A retail organization mistakenly did not include $10,000 of inventory in the physical count at the end of the year. What was the impact to the organization’s financial statements?
Which of the following controls refers to requiring employees to use a combination of PINs, passwords, and/or biometrics to access an organization's smart device apps and data?
An organization's board of directors is particularly focused on positioning, the organization as a leader in the industry and beating the competition. Which of the following strategies offers the greatest alignment with the board's focus?
