IIA-CIA-Part2 V1

An internal auditor tested whether purchase orders were supported by appropriately approved purchase requisitions She sampled a population of purchase documents and identified instances where purchase requisitions were missing However, she did not notice that n some cases purchase requisitions were approved by an unauthorized person. Which of the following...

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...

According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?A . The organization's audit universe is extensive and diverse. B. There has been an increase in unanticipated requests for advisory work. C. Previous work...

According to HA guidance, the chief audit executive is directly responsible for which of the following?A . Maintaining a quality assurance program even in the absence of management support B. Periodically reviewing and approving the internal audit charier C. Providing opportunities for all staff auditors to satisfy their professional development...

During a fraud interview, it was discovered that unquestioned authority enabled a vice president to steal funds from the organization. Which of the following best describes this condition?A . Scheme. B. Opportunity. C. Rationalization. D. Pressure.View AnswerAnswer: B

According to HA guidance, the chief audit executive is directly responsible for which of the following?A . Maintaining a quality assurance program even in the absence of management support B. Periodically reviewing and approving the internal audit charier C. Providing opportunities for all staff auditors to satisfy their professional development...

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 analysisView AnswerAnswer: A

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...

Which of the following would most likely cause an internal auditor to consider adding fraud work steps to the audit program?A . Improper segregation of duties. B. Incentives and bonus programs. C. An employee's reported concerns. D. Lack of an ethics policy.View AnswerAnswer: C

Which of the following is an appropriate documentation of proper engagement supervision?A . A completed engagement workpaper review checklist. B. The supervisor's review notes on engagement workpapers. C. The email exchanges between the audit team and the supervisor. D. A supervisor's approval of resources allocated to the engagementView AnswerAnswer: B