IIA IIA-CIA-Part2 CIA Exam Part Two: Practice of Internal Auditing Online Training
IIA IIA-CIA-Part2 Online Training
The questions for IIA-CIA-Part2 were last updated at Jan 28,2025.
- Exam Code: IIA-CIA-Part2
- Exam Name: CIA Exam Part Two: Practice of Internal Auditing
- Certification Provider: IIA
- Latest update: Jan 28,2025
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system.
Which of the following component should be added to this observation?
- A . Criteria
- B . Cause
- C . Effect
- D . Condition
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system.
Which of the following component should be added to this observation?
- A . Criteria
- B . Cause
- C . Effect
- D . Condition
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system.
Which of the following component should be added to this observation?
- A . Criteria
- B . Cause
- C . Effect
- D . Condition
According to an internal audit observation, the organization’s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system.
Which of the following component should be added to this observation?
- A . Criteria
- B . Cause
- C . Effect
- D . Condition
Communicate to senior management a summary report on the status and adequacy of audit resources.
- A . 1 and 3 only
- B . 2 and 4 only
- C . 1, 2, and 4
- D . 2, 3, and 4
An organization buys crude oil on the open market and refines it into a high-quality gasoline. The price of crude oil is extremely volatile.
Which of the following is the most appropriate risk management technique to protect the organization against these price fluctuations?
- A . Enter into long-term gasoline purchase agreements with end customers.
- B . Trade crude oil derivatives at financial markets in order to benefit from price fluctuations
- C . Purchase crude oil-related derivatives such as futures or options
- D . Stock as much raw materials as possible and consider Investing into additional facilities
Which of the following is the primary reason the chief audit executive should consider the organization’s strategic plans when developing the annual audit plan?
- A . Strategic plans reflect the organization’s business objectives and overall attitude toward risk.
- B . Strategic plans are helpful to identify major areas of activity, which may direct the allocation of internal audit activity resources.
- C . Strategic plans are likely to show areas of weak financial controls.
- D . The strategic plan is a relatively stable document on which to base audit planning.
An internal auditor wants to compare performance information from one quarter to another.
Which analytics procedure would the auditor use?
- A . Ratio analysis
- B . Trend analysis
- C . Vertical analysis
- D . Benchmarking analysis
An internal auditor wants to identity potential ghost employees in the organization’s payroll system.
The auditor extracts the following data
– Human resources data with employees’ names addresses employment conditions and identification codes
– Payroll data
– Logs from entrance systems
With this data, which of the following types of ghost employees will the auditor be able to identify?
- A . Employees who are being paid more than then approved wages
- B . Employees who get paid although their employment has expired
- C . Employees who are related to one of the subcontractors
- D . Employees who are physically present at the workplace but who do not perform the specified job duties
Which of the following items, included in the preliminary audit communication would be most useful for management to formulate action plans in response to audit recommendations?
- A . A condition
- B . An audit objectives
- C . An audit scope
- D . An observation rating
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