IIA IIA-CIA-Part3-3P CIA Exam Part Three: Business Knowledge for Internal Auditing Online Training
IIA IIA-CIA-Part3-3P Online Training
The questions for IIA-CIA-Part3-3P were last updated at Jan 19,2025.
- Exam Code: IIA-CIA-Part3-3P
- Exam Name: CIA Exam Part Three: Business Knowledge for Internal Auditing
- Certification Provider: IIA
- Latest update: Jan 19,2025
The market price is the most appropriate transfer price to be charged by one department to another in the same organization for a service provided when:
- A . There is an external market for that service.
- B . The selling department operates at 50 percent of its capacity.
- C . The purchasing department has more negotiating power than the selling department.
- D . There is no external market for that service.
Which of the following is not a potential area of concern when an internal auditor places reliance on spreadsheets developed by users?
- A . Increasing complexity over time.
- B . Interface with corporate systems.
- C . Ability to meet user needs.
- D . Hidden data columns or worksheets.
Which stage of group development is characterized by a decrease in conflict and hostility among group members and an increase in cohesiveness?
- A . Forming stage.
- B . Norming stage.
- C . Performing stage.
- D . Storming stage.
Which of the following is a role of the board of directors in the governance process?
- A . Conduct periodic assessments of the organization’s governance systems.
- B . Obtain assurance concerning the effectiveness of the organization’s governance systems.
- C . Implement an effective system of internal controls to support the organization’s governance systems.
- D . Review and approve operational goals and objectives.
An internal auditor has been asked to conduct an investigation involving allegations of independent contractor fraud .
Which of the following controls would be least effective in detecting any potential fraudulent activity?
- A . Exception report identifying payment anomalies.
- B . Documented policy and procedures.
- C . Periodic account reconciliation of contractor charges.
- D . Monthly management review of all contractor activity.
An organization decided to install a motion detection system in its warehouse to protect against after-hours theft. According to the COSO enterprise risk management framework, which of the following best describes this risk management strategy?
- A . Avoidance.
- B . Reduction.
- C . Elimination.
- D . Sharing.
Which of the following are the most appropriate measures for evaluating the change in an organization’s liquidity position?
- A . Times interest earned, return on assets, and inventory turnover.
- B . Accounts receivable turnover, inventory turnover in days, and the current ratio.
- C . Accounts receivable turnover, return on assets, and the current ratio.
- D . Inventory turnover in days, the current ratio, and return on equity.
An organization is considering mirroring the customer data for one regional center at another center. A disadvantage of such an arrangement would be:
- A . Lack of awareness of the state of processing.
- B . Increased cost and complexity of network traffic.
- C . Interference of the mirrored data with the original source data.
- D . Confusion about where customer data are stored.
According to the COSO enterprise risk management (ERM) framework, which of the following is not a typical responsibility of the chief risk officer?
- A . Establishing risk category definitions and a common risk language for likelihood and impact measures.
- B . Defining ERM roles and responsibilities.
- C . Providing the board with an independent, objective risk perspective on financial reporting.
- D . Guiding integration of ERM with other management activities.
A holding company set up a centralized group technology department, using a local area network with a mainframe computer to process accounting information for all companies within the group. An internal auditor would expect to find all of the following controls within the technology department except:
- A . Adequate segregation of duties between data processing controls and file security controls.
- B . Documented procedures for remote job entry and for local data file retention.
- C . Emergency and disaster recovery procedures and maintenance agreements in place to ensure continuity of operations.
- D . Established procedures to prevent and detect unauthorized changes to data files.
Latest IIA-CIA-Part3-3P Dumps Valid Version with 412 Q&As
Latest And Valid Q&A | Instant Download | Once Fail, Full Refund
