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IIA-CIA-Part2 (Practice of Internal Auditing) Certification Exam is a rigorous assessment that requires a comprehensive understanding of internal auditing practices and principles. Successfully passing the exam demonstrates a high level of competence in the field and is a valuable asset for anyone seeking to advance their career in internal auditing.
NEW QUESTION # 28
A newly promoted chief audit executive (CAE) is faced with a backlog of assurance engagement reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the opinion statement on each report. According to IIA guidance, which of the following opinions would receive the lowest review priority?
1. Graded positive opinion.
2. Negative assurance opinion.
3. Limited assurance opinion.
4. Third-party opinion.
- A. 1 and 3
- B. 2 and 4
- C. 1 and 4
- D. 2 and 3
Answer: D
NEW QUESTION # 29
Which of the following should be included in a privacy audit engagement?
1.Assess the appropriateness of the information gathered.
2.Review the methods used to collect information.
3.Consider whether the information collected is in compliance with applicable laws.
4.Determine how the information is stored.
- A. 2 and 4 only
- B. 1, 3, and 4 only
- C. 1, 2, 3, and 4
- D. 1 and 3 only
Answer: C
NEW QUESTION # 30
An organization has a large number of vendors supplying goods to its various branches across the region.
The code of conduct statements signed by the employees specify that the employees or their families will not sell goods to the organization. However, during the internal audit of a branch, the internal auditor suspected that some of the employees may be supplying goods to the organization contrary to the code of conduct. The chief audit executive has requested that a thorough review be completed to identify the potential employee vendors. Of the following tests, it would be least useful to compare [List A] with [List B].
[List A]
[List B]
- A. Vendor names
Employee names - B. Dates of payments to vendors
Dates of salary payments to employees - C. Addresses of vendors from the vendor database
Addresses of employees from the employee database - D. Vendor bank account numbers
Employee bank account numbers
Answer: B
NEW QUESTION # 31
The final internal audit report should be distributed to which of the following individuals?
- A. Executive management only
- B. Audit client management, executive management, and any those who request a copy.
- C. Audit client management, executive management, and others approved by the chief audit executive.
- D. Audit client management only
Answer: C
NEW QUESTION # 32
An internal auditor has been assigned to facilitate a risk and control self-assessment for the finance group.
Which of the following is the most appropriate role that she should assume when facilitating the workshop?
- A. Express an opinion on the participants' inputs and conclusions as the assessment progresses.
- B. Provide appropriate techniques and guidelines on how the exercise should be undertaken.
- C. Evaluate and report on all issues that may be uncovered during the exercise.
- D. Screen and vet participants so that the most appropriate candidates are selected to participate in the exercise.
Answer: B
Explanation:
Section: Volume E
NEW QUESTION # 33
According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?
- A. The organization's audit universe is extensive and diverse.
- B. There has been an increase in unanticipated requests for advisory work.
- C. A recent benchmarking study found that using external service providers is a common practice of similarly-sized IAAs in other organizations.
- D. Previous work provided by the external service provider has been of great quality and value.
Answer: B
NEW QUESTION # 34
In which of the following situations would it be most appropriate to employ the services of a forensic specialist?
- A. Investigation of ghost employees in a large business.
- B. Verification of fixed assets in a manufacturing company.
- C. Review for misapplication of general computer controls over accounts receivable.
- D. Detection of unauthorized changes to source documents.
Answer: D
NEW QUESTION # 35
Which of the following is most appropriate when conducting an interview during the course of a fraud investigation?
- A. Schedule the interview well in advance.
- B. Assume that the interviewee is guilty.
- C. Explain the detailed purpose to the interviewee.
- D. Have a witness present during the interview.
Answer: D
NEW QUESTION # 36
Which of the following is a preventive control for fraud?
- A. Verifying that new vendors appear on the vendor pre-approved list.
- B. Determining if the number of manually prepared disbursement checks is high.
- C. Reconciling the purchase orders with the requisitions.
- D. Conducting an inventory count of the warehouse.
Answer: A
NEW QUESTION # 37
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 only
- C. 1, 2, 3, and 4
- D. 1 and 3 only
Answer: C
NEW QUESTION # 38
Which of the following is the first step in the process where auditors and clients work together to evaluate the clients' system of internal control?
- A. Identify and assess controls.
- B. Assess risks.
- C. Identify objectives.
- D. Develop questionnaires.
Answer: C
Explanation:
Section: Volume B
NEW QUESTION # 39
As a result of a recent discovery of false information on employment applications, an internal auditor has reviewed hiring procedures. Which of the following represents a weakness in the control system?
I. Applicants are not required to have their signed applications legally authenticated.
II. Applicants' educational information is not validated with the educational institution before employment is offered.
III. Information related to applicants' long-term work history is not validated before employment is offered.
- A. III only
- B. II and III only
- C. I, II, and III
- D. I and II only
Answer: B
Explanation:
Section: Volume B
NEW QUESTION # 40
During a systems development audit, software developers indicated that all programs were moved from the development environment to the production environment and then tested in the production environment. What should the auditor recommend?
I. Implement a test environment to ensure that testing is not performed in the production environment.
II. Require developers to move modified programs from the development environment to the test environment and from the test environment to the production environment.
III.
Eliminate access by developers to the production environment.
- A. III only
- B. I and III only
- C. I and II only
- D. I only
Answer: B
NEW QUESTION # 41
Reviewing internal audit report drafts with clients is:
1. Required according to the Standards.
2. A form of courtesy.
3. Ethically mandated.
4. A form of validation.
- A. 1 and 2 only
- B. 3 and 4 only
- C. 2 and 3 only
- D. 2 and 4 only
Answer: D
NEW QUESTION # 42
When interrogating an individual who is suspected of fraud, it is appropriate to:
- A. Prepare a list of questions prior to the interrogation and strictly adhere to the list.
- B. Tell the individual that any information disclosed in the interrogation will not be disclosed outside of the company.
- C. Discontinue questioning once the individual has confessed to the fraud.
- D. Start the interview with questions to which the interviewer already knows the answer.
Answer: D
NEW QUESTION # 43
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