IIA-CIA-Part2 V3

According to IIA guidance which of the following statements is true regarding heat maps?A . A heat map sets likelihood to have higher priority than impact.B . A heat map sets impact to have higher priority than likelihood.C . A heat map recognizes that the priority of impact and likelihood...

The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services from the internal audit activity to gain insight regarding the external risks. Which of the following engagement objectives would be appropriate...

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...

Which of the following has the greatest effect on the efficiency of an audit?A . The complexity of deficiency findings.B . The adequacy of preliminary survey information.C . The organization and content of workpapers.D . The method and amount of supporting detail used for the audit report.View AnswerAnswer: B

An internal auditor is analyzing sates records and is concerned whether a transaction is recorded in the coned period. The accounting manager explains that the external auditor approved the records and produces an email from the external audit team leader. How should tie internal auditor respond?A . Ask the external...

Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?A . Proposing fine item recommendation lot the annual financial budget of the accounting departmentB . Making recommendations regarding financial approval authority limits for the operations departmentC . Validating whether employees are...

Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?A . TracingB . ReperformanceC . VouchingD . WalkthroughView AnswerAnswer: C

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 . EffectivenessB . ResponseC . EfficiencyD . Mitigation.View AnswerAnswer: 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...

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...