IIA-CIA-Part2 exam

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...

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...

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 is the primary reason the chief audit executive should consider the organization's strategic plans when developing the annual audit plan?A . Strategic plans reflect the organization's business objectives and overall attitude toward risk.B . Strategic plans are helpful to identify major areas of activity, which may...

Which of the following statements about assurance maps is correct?A . An assurance map is used by the chief audit executive to coordinate assurance activities with other internal and external assurance providers B. An assurance map is a picture of all assurance engagements performed by the internal audit activity across...

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 completed a review of expenses related to the launch of a new project. The auditor sampled 45 transactions approved by a senior project manager and identified 30 with questionable vendor documentation. Which of the following is the most appropriate conclusion for the auditor to include in the...

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...

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 collected several employee testimonials. Which of the following is the best action for the internal auditor to take before drawing a conclusion?A . Ensure the testimonials are well documented B. Substantiate the testimonials with physical or documentary evidence C. Corroborate testimonials with the results from other soft...