IIA-CIA-Part2 Exam Questions Instant Access

Question 1

Which of the following is most appropriate for internal auditors to do during the internal audit recommendations monitoring process?

AReport the monitoring status to senior management when requested.

BAssist management with implementing corrective actions.

CDetermine the frequency and approach to monitoring.

DInclude all types of observations in the monitoring process.

Answer : C

Question 2

An internal auditor suspects that employee turnover is unusually high at the organization's primary manufacturing plant To investigate this potential issue which of the following analytical approaches is the auditor likely to use?

ARatio analysis

BVertical analysis

CBenchmarking

DCost-benefit analysis.

Answer : C

Question 3

When auditing an organization's purchasing function, which of the following appropriately matches an engagement objective and the resulting audit procedure?

ADetermine whether the purchasing department complies with policy by examining a random selection of purchase orders.

BEvaluate whether purchasing requests are properly approved by authorized staff by obtaining independent verification from the vendors.

CAscertain whether material receipts are recorded on a timely basis by reviewing physical inventory stock counts.

DDetermine whether prices charged for goods received are correct by reviewing the appropriate accounts payable record by vendor.

Answer : A

Question 4

Which of the following sources of audit evidence is most reliable?

AEvidence obtained directly from an untested third party.

BUncorroborated audit evidence obtained indirectly from an employee.

CUndocumented audit evidence obtained directly from a manager.

DTimely audit evidence obtained directly from a customer.

Answer : D

Question 5

According to the Standards, which of the following is true regarding the auditor's inclusion of management's satisfactory performance in the final audit report?

AAcknowledgement of satisfactory performance is encouraged but not required.

BThere are no standards to address the inclusion of satisfactory performance.

CSatisfactory performance should only be acknowledged with the advice of corporate counsel.

DAuditors must include satisfactory performance with the approval of the board.

Answer : A

Question 6

Which of the following statements is true regarding the use of internal control questionnaires (ICOs)?

AICQs are efficient because they minimize the need for follow-up with survey respondents

BControls with positive survey responses can be eliminated from further testing

CAnswers to survey questions can be easily misinterpreted

DICQs offer limited value for organizations with uniform procedures

Answer : C

Question 7

During an audit of the human resources department, an internal auditor adopts benchmarking to test the employee turnover rate. How should the internal auditor apply this technique?

ACompare turnover m the organization to published turnover rates of peer organizations.

BCompare turnover in one period with turnover in the previous period in the organization

CCompare turnover in the period to total employees in the organization

DCompare turnover with the auditor's general knowledge of the organization

Answer : A

IIA Practice of Internal Auditing IIA-CIA-Part2 Exam Questions