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 IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
- A . The establishment of an audit approach and documentation system
- B . The standardization of workpaper terminology and notations
- C . The ability to reach consistent audit conclusions regardless of who performs the audit
- D . The application of documentation standards m an appropriate and consistent manner
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
- A . The establishment of an audit approach and documentation system
- B . The standardization of workpaper terminology and notations
- C . The ability to reach consistent audit conclusions regardless of who performs the audit
- D . The application of documentation standards m an appropriate and consistent manner
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
- A . The establishment of an audit approach and documentation system
- B . The standardization of workpaper terminology and notations
- C . The ability to reach consistent audit conclusions regardless of who performs the audit
- D . The application of documentation standards m an appropriate and consistent manner
According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?
- A . The establishment of an audit approach and documentation system
- B . The standardization of workpaper terminology and notations
- C . The ability to reach consistent audit conclusions regardless of who performs the audit
- D . The application of documentation standards m an appropriate and consistent manner
Is the documentation easily accessible to an persons who need in to perform their job?
Which of the following is a drawback of testing methods like this?
- A . They ore kitted as they do not allow the auditor to test many controls.
- B . They do not highlight control gaps
- C . They are not useful for identifying areas on which the auditor should locus.
- D . They are limited as there is a risk that management may not answer fairly.
A toy manufacturer receives certain components from an overseas supplier and uses them to assemble final products Recently quality reviews have identified numerous issues regarding the components’ compliance with mandatory quality standards.
Which type of engagement would be most appropriate to assess the root causes of the quality issues?
- A . A risk assessment
- B . An operational audit
- C . A third-party audit
- D . A fraud investigation
An internal auditor collected several employee testimonials.
Which of the following is the best action for the internal auditor to take before drawing a conclusion?
- A . Ensure the testimonials are well documented
- B . Substantiate the testimonials with physical or documentary evidence
- C . Corroborate testimonials with the results from other soft control techniques
- D . Review the testimonials with the interviewed employees
An organization recently acquired a subsidiary in a new industry, and management asked the chief audit executive (CAE) to perform a comprehensive audit of the subsidiary prior to recommencing operations. The CAE is unsure her team has the necessary skills and knowledge to accept the engagement According to IIAguidance, which of the following responses by the CAE would be most appropriate?
- A . The CAE should accept the engagement and ensure that an explanation of the expertise limitations is included in the final audit report.
- B . The CAE should ask management to hire an external expert who is familiar with the industry to perform an independent audit for management
- C . The CAE should accept the engagement and hire an external expert to assist the audit team with the audit of the subsidiary
- D . The CAE should recommend postponing the engagement until the internal audit team is able to develop sufficient knowledge of the new industry
An internal auditor conducted interviews with several employees, documented the interviews analyzed the summaries, and drew a number of conclusions.
What sort of audit evidence has the internal auditor primarily obtained?
- A . Documentary evidence
- B . Testimonial evidence
- C . Analytical evidence
- D . Physical evidence
An audit observation states the following:
"Despite the rules of the organization there is no approved credit risk management policy in the subsidiary. The subsidiary is concluding contacts with clients who have very high credit ratings. The internal audit team tested 50 contacts and 17 showed clients with a poor credit history"
Which of the following components are missing in the observation?
- A . Cause and effect.
- B . Effect and criteria
- C . Condition and cause
- D . Criteria and condition.
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