[Nov 11, 2021] IIA-CIA-Part2 Exam Brain Dumps - Study Notes and Theory
Pass IIA IIA-CIA-Part2 Test Practice Test Questions Exam Dumps
IIA IIA-CIA-Part2 Exam Syllabus Topics:
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NEW QUESTION 272
Which of the following activities would be performed during a benchmarking consulting engagement?
I. Collect data relevant to the benchmarking process.
II. Review all business processes.
III. Define critical success factors.
IV.
Identify performance gaps.
- A. I and III only
- B. I, III, and IV only
- C. II and IV only
- D. I, II, and III only
Answer: B
NEW QUESTION 273
Which of the following computerized audit tools or techniques should be used if the internal auditor wants to extract specific files and records in the database?
- A. An integrated test facility
- B. An expert or decision support system
- C. A system utility program
- D. Generalized audit software
Answer: C
NEW QUESTION 274
According to IIA guidance, which of the following should be considered when creating policies and procedures for the internal audit activity (IAA)?
- A. Complexity of audit activities, structure of the IAA, and audit staff skills and competencies.
- B. Number of auditors, structure of the IAA, and audit staff skills and competencies.
- C. Number of auditors, complexity of audit activities, and structure of the IAA.
- D. Number of auditors, complexity of audit activities, and audit staff skills and competencies.
Answer: C
Explanation:
Section: Volume C
NEW QUESTION 275
In a review of an electronic data interchange application using a third-party service provider, the auditor should:
I. Ensure encryption keys meet International Organization for Standardization (ISO) standards.
II. Determine whether an independent review of the service provider's operation has been conducted.
III. Verify that only public-switched data networks are used by the service provider.
IV.
Verify that the service provider's contracts include necessary clauses, such as the right to audit.
- A. I and II only
- B. II and IV only
- C. II and III only
- D. I and IV only
Answer: B
NEW QUESTION 276
Which of the following data sources would provide the least valid data for an audit of a retail store's customer service?
- A. A random survey of customer satisfaction given to customers as they leave the store.
- B. Interviews of randomly selected service personnel regarding the quality of service that they provide.
- C. A graph of customer service training across stores, comparing training with overall levels of service satisfaction.
- D. A graph that compares staffing levels for selected times with store traffic (number of customers) over the same time period.
Answer: B
NEW QUESTION 277
According to the Standards, which of the following is applicable to the internal audit activity's quality assurance and improvement program?
- A. The review of assurance services should be the primary focus.
- B. All aspects of the internal audit activity should be evaluated.
- C. Periodic monitoring of the internal audit activity should be done.
- D. An external assessment should be obtained every three years.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION 278
What does the following scatter gram suggest?
- A. The training program is not effective.
- B. One data point is incorrectly plotted.
- C. Sales revenue is related to training costs.
- D. Increases in training costs consistently increase sales revenue.
Answer: C
NEW QUESTION 279
Which of the following would be the most important reason for the chief audit executive (CAE) to use inputs from management strategy to update the audit universe?
- A. The CAE wants to determine internal audit resourcing requirements to cover the organization's major processes and activities over time.
- B. The CAE wants to consider the organization's strategic plan including attitude toward risk and the degree of difficulty to achieving planned objectives.
- C. The audit charter requires the CAE to update the audit universe before embarking on the selection of potential audit engagements.
- D. The CAE wants to cover management planned activities for the upcoming year in the audit plan.
Answer: B
NEW QUESTION 280
An internal auditor determines that certain information from the engagement results is not appropriate for disclosure to all report recipients because it is privileged. In this situation, which of the following actions would be most appropriate?
- A. Disclose the information in a separate report.
- B. Distribute the information in a confidential report to the board only.
- C. Exclude the results from the report and verbally report the conditions to senior management and the board.
- D. Distribute the reports through the use of blind copies.
Answer: A
NEW QUESTION 281
During an engagement, an internal auditor discovered that an organization's policy on delegation of authority listed six individuals who were no longer employed with the organization. In addition, four individuals acting with disbursement authority were not identified in the policy as having such authority. Which of the following is the most effective course of action to address the control weakness?
- A. Recommend that management review the process supporting the policy and make improvements.
- B. Review further to ensure that the four individuals do not have the appropriate authority through delegation.
- C. Immediately initiate a complete audit of the disbursement function to determine if significant frauds have occurred.
- D. Advise management to add the four additional names and remove the incorrect names from the policy to make it current.
Answer: A
NEW QUESTION 282
An internal auditor has been asked to participate in an advisory capacity to assist a committee in redesigning the organization's current financial reports to provide better information to management and the board. Which of the following actions on the part of the auditor would provide the greatest value to this project?
- A. The internal auditor interviews each stakeholder and documents the requirements and preferences of each and creates a report template that meets as many of the requirements and preferences as possible.
- B. The internal auditor has a set of generic report templates from a former project and presents them to the group because they worked so well for the previous employer.
- C. The internal auditor gathers the stakeholder group and holds a brainstorming session where they generate report requirements and preferences and then rank them in order of importance.
- D. The internal auditor undertakes a project to gather report templates and formats from other organizations in the same line of business and presents them all to the group for review.
Answer: C
NEW QUESTION 283
A chief audit executive (CAE) is determining which engagements to include on the annual audit plan. She would like to consider the organization's attitude toward risk and the degree of difficulty in achieving objectives. Which of the following resources should the CAE consult?
- A. The corporate risk register.
- B. Internal and external audit reports.
- C. The board's meeting records.
- D. The strategic plan.
Answer: D
NEW QUESTION 284
When planning an audit engagement, what should an internal auditor first consider when assessing the risk of fraud in the area to be audited?
- A. Impact of and exposure to fraud.
- B. Management's risk appetite.
- C. Existence of evidence of fraud.
- D. Organizational structure.
Answer: A
Explanation:
Section: Volume C
NEW QUESTION 285
During an audit of executive travel, an auditor noted that the president's travel expense reimbursements were approved by an executive secretary who reported to the president. The organization's reimbursement policy requires all travel expense reimbursements to be approved by the traveler's supervisor, but it does not address the president's reimbursements. Which of the following represents the auditor's best recommendation in this situation?
- A. The organization's reimbursement policy should be amended to grant the president's executive secretary the authority to approve the president's travel expense reimbursements.
- B. The approval policy for executive travel should be considered at the next meeting of the audit committee of the board of directors.
- C. The president's noncompliance should be considered immaterial.
- D. The president's travel expense reimbursements should be reviewed and approved by the chief financial officer.
Answer: B
NEW QUESTION 286
Direct staff as a percentage of total staff is an example of which of the following types of efficiency measures?
- A. Resource utilization rate.
- B. Productivity ratio.
- C. Operating ratio.
- D. Productivity index.
Answer: C
NEW QUESTION 287
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