IIA-CIA-Part2 V3

The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year All engagements should be appropriately categorized and presented to the chief audit executive for review. Which of the following would most likely be classified as a consulting engagement?A ....

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...

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...

The same individuals who receive the final report.A . 1 onlyB . 1 and 2 onlyC . 1, 2, and 3D . 1, 2, and 4View AnswerAnswer: C

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 ....

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 supportB . Periodically reviewing and approving the internal audit charierC . Providing opportunities for all staff auditors to satisfy their professional development...

What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?A . To ensure that the engagement is completed on time and within budgetB . To ensure that all work performed meets acceptable quality standardsC . To ensure that management has provided suitable responses...

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...

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...

Which of the following internal control attributes should internal auditors consider testing during a review of the board of directors?A . The presence of an independent critical massB . The established philosophy and operating style of senior managementC . The articulated internal control objectives of the organizationD . The organization's...