IIA-CIA-Part2 V1

An internal auditor was reviewing the procurement department's tender documentation for completeness He documented all discrepancies but the procurement manager disagreed with his findings Upon further review, the internal auditor noted that all discrepancies had been corrected in the tender database. Which of the following courses of action would have...

Upon concluding the engagement fieldwork an internal auditor discusses the audit findings with operational management. There is a greater likelihood that the auditor will obtain a responsive action plan from management when both parties agree on which of the following attributes of the audit finding?A . Criteria B. Condition C....

If observed during fieldwork by an internal auditor, which of the following activities is least important to communicate formally to the chief audit executive?A . Acts that may endanger the health or safety of individuals. B. Acts that favor one party to the detriment of another. C. Acts that damage...

Determine how the information is stored.A . 1 and 3 only B. 2 and 4 only C. 1, 3, and 4 only D. 1, 2, 3, and 4View AnswerAnswer: D

Which of the following should management action plans include at a minimum?A . An implementer for the action plan B. An owner of the action plan C. The internal auditor's next review date of the action plan D. Detailed procedures for the action planView AnswerAnswer: B

An internal auditor uses a data query tool in the purchasing process to review the vendor master file for authorizations. Which of the following describes the control objective likely being tested?A . Effectiveness B. Response C. Efficiency D. Mitigation.View AnswerAnswer: A

An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. According to IIA guidance, which of the following roles should the CAE not undertake?A . Manage and coordinate risk management processes. B. Audit risk...

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...

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...

Which of the following would not be a typical activity for the chief audit executive to perform following an audit engagement?A . Report follow-up activities to senior management. B. Implement follow-up procedures to evaluate residual risk. C. Determine the costs of implementing the recommendations. D. Evaluate the extent of improvements.View...