IIA-CIA-Part1 Exam Practice Test Instant Access

Question 1

During an audit engagement, the internal auditor discussed a risk mitigation recommendation with the manager of the area under review. The manager disagreed with the risk assessment and recommendation. The two failed to come up with an alternative solution, and the auditor decided to proceed with including the original recommendation in the engagement report. Which of the following is especially important in dealing with this type of situation?

ASoft skills in communication, negotiation, and collaboration.

BTechnical skills in the area under review.

CProfessional qualifications and certification in internal auditing.

DConfidentiality and independence.

Answer : A

Question 2

According to IIA guidance, which of the following roles would be appropriate for an internal auditor regarding fraud risk?

1. Identification.

2. Mitigation.

3. Remediation.

4. Reduction.

A1 only. |

B1 and 4 only.

C1, 3, and 4 only.

D1,2, 3, and 4.

Answer : B

Question 3

Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook. Which of the following handbook policies has the greatest risk of compromising audit objectivity?

AInternal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.

BInternal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.

CInternal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.

DInternal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.

Answer : B

Question 4

The management at a national consumer goods organization implements a fair work and pay practice as well as a policy to treat employees equitably and consistently. Which common characteristics of fraud will the practice and policy most likely reduce?

APressure or incentive.

BOpportunity.

CRationalization.

DCommitment.

Answer : A

Question 5

An internal audit activity includes in its audit reports the assertion that its work is performed in conformance with the International Standards for the Professional Practice of Internal Auditing {Standards). A recent external quality assessment concluded that the internal audit activity had substantial deficiencies that impact its overall operations. According to IIA guidance, which of the following is the most appropriate action for issuing future audit reports?

ARefrain from indicating that the internal audit activity operates in conformance with the Standards until the chief audit executive confirms that the internal audit activity has addressed all areas of nonconformance and the audit committee has been notified.

BRefrain from indicating that the internal audit activity operates in conformance with the Standards until another external assessment confirms that the significant areas of nonconformance have been addressed.

CIndicate that the internal audit activity operates in partial conformance with the Standards, as the internal audit activity has a quality assurance and improvement program in place to address deficiencies and has met the requirement for conducting an external assessment.

DUpdate and reissue previous audit reports, removing the assertion that the internal audit activity operates in conformance with the Standards, and distribute them to all parties who received the original reports.

Answer : B

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IIA-CIA-Part1 Certified Internal Auditor® Exam Practice Test

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IIA-CIA-Part1 Certified Internal Auditor® Exam Practice Test

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