Pass Your IIA Exam with IIA-CIA-Part2 Exam Dumps (Updated 600 Questions)
IIA-CIA-Part2 Exam Dumps - IIA Practice Test Questions
IIA IIA-CIA-Part2 Exam Syllabus Topics:
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NEW QUESTION 132
Management has taken immediate action to address an observation received during an audit of the organization's manufacturing process Which of the following is true regarding the validity of the observation closure?
- A. Valid closure requires assurance from management that the original problem will not recur in the future
- B. Valid closure requires evidence that ensures the corrected process will function as expected in the future
- C. Valid closure of an observation ensures it will be included in the final engagement report
- D. Valid closure requires the client lo address not only the condition, but also the cause of the condition
Answer: B
NEW QUESTION 133
Which of the following processes real-transaction data through auditor-developed test programs?
- A. Mapping.
- B. Parallel simulation.
- C. Tracing.
- D. Generalized audit software.
Answer: B
Explanation:
Section: Volume A
NEW QUESTION 134
Which of the following data sources would provide the least valid data for an audit of a retail store's customer service?
- A. A random survey of customer satisfaction given to customers as they leave the store.
- B. Interviews of randomly selected service personnel regarding the quality of service that they provide.
- C. A graph of customer service training across stores, comparing training with overall levels of service satisfaction.
- D. A graph that compares staffing levels for selected times with store traffic (number of customers) over the same time period.
Answer: B
NEW QUESTION 135
Which of the following conditions should a chief audit executive take into account when deciding if a follow- up audit engagement is necessary?
* The reported observations were significant and high risk.
* Internal audit resources and the time it will require for follow-up.
* Management may not have the resources to take action.
* Management has previously decided not to take any action.
- A. 2, 3, and 4 only
- B. 1, 3, and 4 only
- C. 1, 2, and 3 only
- D. 1, 2, and 4 only
Answer: D
NEW QUESTION 136
A code of business conduct provides:
- A. A passive method of fraud deterrence.
- B. An alternative to "tone at the top" programs.
- C. A program to anonymously report irregularities to authorities.
- D. A fraud avoidance plan that does not explicitly describe punishments for violations.
Answer: A
Explanation:
Section: Volume C
NEW QUESTION 137
Inadequate risk assessment would have the strongest negative impact in which of the following phases of an audit engagement?
- A. Determining the scope.
- B. Evaluating findings.
- C. Reviewing internal controls.
- D. Testing.
Answer: A
NEW QUESTION 138
When establishing a quality assurance and improvement program, the chief audit executive should ensure the program is designed to accomplish which of the following objectives?
1.Add value.
2.Improve operations.
3.Provide assurance that the internal audit activity conforms with the Standards.
4.Provide assurance that the internal audit activity conforms with the IIA Code of Ethics.
- A. 1 and 2 only
- B. 1 and 3 only
- C. 1, 2, 3, and 4
- D. 1 only
Answer: C
NEW QUESTION 139
During an audit of a branch bank, an internal auditor learned that a series of system failures had resulted in a four-day delay in processing customers' scheduled payroll direct deposits. The first failure was that of a disk drive, followed by software and other minor failures. Which of the following controls should the auditor recommend to avoid similar delays in processing?
- A. Preventive maintenance.
- B. Contingency planning.
- C. Process monitoring.
- D. Redundancy checks.
Answer: B
NEW QUESTION 140
Questions used to interrogate individuals suspected of fraud should:
- A. Move from general to specific.
- B. Cover more than one subject or topic.
- C. Direct the individual to a desired answer.
- D. Adhere to a predetermined order.
Answer: A
NEW QUESTION 141
Which of the following potential performance measures should an auditor recommend excluding from a performance scorecard?
- A. Number of customer complaints.
- B. Training dollars per employee.
- C. Market share.
- D. Number of employees.
Answer: D
NEW QUESTION 142
An internal auditor provided the following statement about division A's performance during the month: "Because supplies of raw material X were scarce, division A's profits declined by 15 percent."
Which of the following can be validly concluded from the auditor's statement?
I. Division A's production level declined by 15 percent.
II. Division A could have sold more products than it produced.
III.
Division A usually sells all of the products that it produces.
- A. I and II only
- B. III only
- C. I only
- D. II only
Answer: D
NEW QUESTION 143
Because of a new marketing initiative, an organization has reduced requirements for extending credit to new customers. As a result, outstanding accounts receivable as a percentage of revenue has increased significantly during the past two years. Which of the following would be least useful in monitoring this finding?
- A. Updates from the manager of accounts receivable regarding collection of outstanding receivables.
- B. Updates from the information technology division regarding development of a new accounts receivable system.
- C. Updates from the controller regarding the status of corrective actions.
- D. Updates from the credit and marketing personnel tasked with reevaluating credit policies.
Answer: B
Explanation:
Section: Volume C
NEW QUESTION 144
What would be used to determine the collectability of accounts receivable balances?
- A. Positive accounts receivable confirmations.
- B. Negative accounts receivable confirmations.
- C. An aged accounts receivable listing.
- D. The file of related shipping documents.
Answer: C
NEW QUESTION 145
Which of the following would constitute a violation of the IIA Code of Ethics?
- A. An internal auditor has no ambitions for promotion and has not engaged in training or other professional development activities during the last three years. The auditor's performance assessments indicate consistent quality of work.
- B. An internal auditor has accepted an assignment to audit the warehousing function six months from now. The auditor has no expertise in that area but has signed up for courses in warehousing that will be completed before the assignment begins.
- C. An internal auditor discovered an internal financial fraud during the year, and the financial statements were adjusted to properly reflect the loss associated with the fraud. The auditor discussed the fraud with the external auditor during the external auditor's review of the working papers detailing the incident.
- D. An internal auditor, who has recently joined the organization, has accepted an assignment to audit the electronics manufacturing division. The auditor previously served as senior auditor for the external audit of that division and has audited many electronics companies during the past two years.
Answer: A
NEW QUESTION 146
Which of the following tasks would be considered unusual for planning a control self-assessment workshop?
- A. Securing an external subject matter expert to arbitrate disputes.
- B. Identifying key stakeholders and ensuring they are represented in the group.
- C. Conducting interviews to identify relevant issues for the discussion.
- D. Ensuring that managers are willing to accept constructive criticism.
Answer: A
NEW QUESTION 147
Which of the following might alert an auditor to the possibility of fraud in a division?
I. The division is not scheduled for an external audit this year.
II. Sales have increased by 10 percent.
III. A significant portion of management's compensation is directly tied to reported net income of the division.
- A. III only
- B. I and II only
- C. I only
- D. I, II, and III
Answer: A
NEW QUESTION 148
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