Practice IIA-CIA-Part2-3P Exam Online

Question 1

According to IIA guidance, which of the following accurately describes the responsibilities of the chief audit

executive with respect to the final audit report?

1. Coordinate post-engagement conferences to discuss the final audit report with management.

2. Include management's responses in the final audit report.

3. Review and approve the final audit report.

4. Determine who will receive the final audit report.

Section: Volume E

A : 1 and 2

B : 1 and 4

C : 2 and 3

D : 3 and 4

Answer: D

Question 2

Which characteristic of risk assessment makes it a useful tool for audit planning?

Section: Volume C

A : It provides a list of auditable activities in the organization.

B : It ranks the severity of potentially adverse effects on the organization

C : It provides a process for identifying and analyzing potentially adverse effects

D : It evaluates the probability that an event or action may adversely affect the organization.

Answer: C

Question 3

Which of the following types of information would an internal auditor be most likely to obtain directly from reviewing a system's activity logs?

A : Documentary evidence about transactions.

B : Identification of the system's inputs and outputs to create a process map.

C : Confirmation of the accuracy of information produced by the system.

D : Data to analyze whether system is operating as expected.

Answer: D

Question 4

According to IIA guidance, which of the following are potential benefits of using an assurance map?

Section: Volume D

A : Indication of any gaps in assurance coverage, and improved relevance of assurance recommendations.

B : Identification of duplicate or overlapping assurance activities, and improved relevance of assurance recommendations.

C : Indication of gaps in assurance coverage, and enhanced effectiveness of assurance providers.

D : Enhanced effectiveness of assurance providers, and improved relevance of assurance recommendations.

Answer: C

Question 5

A company's policy requires that all customers be treated in a fair and consistent manner. Which of the following audit procedures would provide the most persuasive evidence that the policy was followed?

Section: Volume A

A : Compare the aging of outstanding receivables due from each customer.

B : Compare credit reports with annual sales for a sample of customers.

C : Compare the ratio of outstanding receivables to the authorized credit limit for each customer

D : Compare the sales discounts offered to each customer

Answer: D

Name:	CIA Exam Part Two: Practice of Internal Auditing
Exam Code:	IIA-CIA-Part2-3P
Certification:	Certified Internal Auditor
Vendor:	IIA
Total Questions:	1029
Last Updated:	Apr 23, 2024

IIA IIA-CIA-Part2-3P