IIA-CIA-Part1 V2

Which of the following concepts is emphasized in the Mission of Internal Audit?A . Support of good governance and controls. B. Enhancement of organizational value. C. Protection of tangible and intangible assets. D. Provision of professional advisory and assurance services.View AnswerAnswer: B

Which of the following would be the most suitable internal control framework for an organization to adopt?A . A framework that specifies common best practices for an organization to evaluate and benchmark. B. A framework that specifies correct and incorrect business methodologies. C. A framework with precise specifications for how...

Which of the following would be a preventive control for helping to manage fraud in an organization?A . Reviews of reports to determine which issued payments lack evidence of supervisory review. B. A monthly review of new vendors performed by management for reasonableness. C. Bank reconciliations performed on a monthly...

An internal auditor assessed the controls within his organization's payroll process and suspects that erroneous payments may have been made to a fraudulent bank account. What is the best course of action for the auditor to take?A . Speak to the payroll manager so he may investigate the auditor's observations....

A chief audit executive (CAE) recruited a few new internal auditors to reduce the resource gaps identified in this year's internal audit plan. One of the new recruits has several years of experience with the organization. Ten months ago. she served as a senior supervisor in the finance department. However,...

Management decided to post the organization's newly established code of conduct on its website. This decision is primarily intended to mitigate which of the following risks?A . Accountability risk. B. Communication risk. C. Knowledge risk. D. Cultural risk.View AnswerAnswer: D

A chief audit executive (CAE) has been asked by the board to evaluate the effectiveness of ethical programs created by management. Which of the following would be the most appropriate action for the CAE to take?A . Compare the design of the organization's ethical programs with best practices. B. Verify...

Which of the following statements best describes a functional difference between external auditors and internal auditors?A . Internal auditors evaluate past achievements to understand whether controls are operating effectively, and external auditors focus on the accuracy of financial reporting. B. Internal auditors provide assurance about the sufficiency of controls to...

Which statement is accurate regarding reporting on the quality assurance and improvement program (OAIP) to conform with the International Standards for the Professional Practice of Internal Auditing?A . The chief audit executive (CAE) should report all stages of the OAlP's development and key milestones. B. The CAE should report only...

What is an appropriate first step in an internal auditor’s fraud risk assessment to evaluate how the organization manages such risk?A . Develop preventive and detective controls B. Identify potential fraud scenarios C. Assess the impact and likelihood of fraud risks D. Determine fraud risk responsesView AnswerAnswer: B