IIA-CIA-Part2 V2

A chief audit executive's report to the board showed a significant trend of recent aud4s going over planned budgeted hours. Which of the following factors could cause this trend?A . Poor engagement supervisionB . ineffective board reportingC . Untimely observation follows up and closureD . Limited staff resourcesView AnswerAnswer: A

According to IIA guidance, which of the following actions might place the independence of the internal audit function in jeopardy?A . Having no active role or involvement in the risk management process.B . Auditing the risk management process for reasonableness.C . Coordinating and managing the risk management process.D . Participating...

As a result of server managements assumption of risk there is residual risk that exceeds me organisation's risk appetite. Which of the following actions would be most appropriate for the chief audit executive to take?A . ignore the responsibility of addressing the residual riskB . Assume the responsibility of addressing...

An internal audit team leader is having difficulties completing the planning phase of an assurance engagement because the business unit lacks a system of internal controls. Which of the following is the most appropriate course of action for the internal audit team leader?A . Defer the engagement until a system...

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 ....

After the team member who specialized in fraud investigations left the internal audit team, the chief audit executive decided to outsource fraud investigations to a third party service provider on an as needed basis. Which of the following is most likely to be a disadvantage of this outsourcing decision?A ....

Which of the following statement is consistent with IIA guidance the use of mentoring for internal auditors?A . The member and the internal auditor should opt for informal meetings even if it means that no formal documentation will be created.B . The mentor relationship is usually not suitable for internal...

According to the IIA guidance, which of the following foes the engagement work test in a review in a review of an organization al process?A . Process objectivesB . Process risksC . Process controlsD . Process scopeView AnswerAnswer: C

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...

An internal auditor wants to identity potential ghost employees in the organization's payroll system. The auditor extracts the following data - Human resources data with employees' names addresses employment conditions and identification codes - Payroll data - Logs from entrance systems With this data, which of the following types of...