Independence Day Special 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: sale65best

Effective Study Techniques for the IIA IIA-CIA-Part2 Exam

Questions 91

An audit client responded to recommendations from a recent consulting engagement. The client indicated that several recommended process improvements would not be implemented. Which of the following actions should the internal audit activity take in response?

Options:

A.

Escalate the unresolved issues to the board, because they could pose significant risk exposures to the organization.

B.

Confirm the decision with management and document this decision in the audit file.

C.

Document the issue in the audit file and follow up until the issues are resolved.

D.

Initiate an assurance engagement on the unresolved issues.

Buy Now
Questions 92

Which of the following conditions are necessary for successful change management?

1. Decisions and necessary actions are taken promptly.

2. The traditions of the organization are respected.

3. Changes result in improvement or reform.

4. Internal and external communications are controlled.

Options:

A.

1 and 2

B.

1 and 3

C.

2 and 3

D.

2 and 4

Buy Now
Questions 93

An internal auditor is testing the success of the IT support department in meeting the service levels guaranteed to small, medium and large customers. The customer's size classification is based on its annual expenditures with the organization and the nature and extent of services it receives. Which of the following sampling techniques would be the most suitable to select customers for this test?

Options:

A.

Interval sampling

B.

Cluster sampling

C.

Stop-and-go sampling

D.

Stratified sampling

Buy Now
Questions 94

An internal auditor and engagement client are deadlocked over the auditor's differing opinion with management on the adequacy of access controls for a major system. Which of the following strategies would be the most helpful in resolving this dispute?

Options:

A.

Conduct a joint brainstorming session with management.

B.

Ask the chief audit executive to mediate.

C.

Disclose the client's differing opinion in the final report.

D.

Escalate the issue to senior management for a decision.

Buy Now
Questions 95

Which of the following is not a primary reason for outsourcing a portion of the internal audit activity?

Options:

A.

To gain access to a wider variety of skills, competencies and best practices.

B.

To complement existing expertise with a required skill and competency for a particular audit engagement.

C.

To focus on and strengthen core audit competencies.

D.

To provide the organization with appropriate contingency planning for the internal audit function.

Buy Now
Questions 96

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.

Options:

A.

1 and 2

B.

1 and 4

C.

2 and 3

D.

3 and 4

Buy Now
Questions 97

An internal auditor was assigned to review controls in the accounts payable function. Most of tie accounts payable processes are performed by a third-party service provider. The auditor included in the audit report a number of control deficiencies involving processes performed by the service provider. The service provider requested a copy of the report Which of Vie following would be the most appropriate response from the chief audit executive (CAE)?

Options:

A.

The CAE would automatically sand a copy of the report to the service provider as many of the findings relate to Via area managed by the service provider

B.

The CAE may distribute the report to tie service provider at no cost, after consulting with legal counsel and tie chief compliance officer

C.

The CAE may provide a copy of the audit report to the service provider If an agreement & signed and the service provider agrees to reimburse the cost of the audit

D, The CAE should benchmark with other organization in the industry by consorting with colleagues and distribute the report only I it is an acceptable practice m the industry

Buy Now
Questions 98

While performing fieldwork for an assurance engagement, a member of the internal audit team identified a key control that was not identified during the planning phase of the engagement Which of the following actions by the internal auditor would be most appropriate?

Options:

A.

Promptly adjust the audit work program to include tests that address the newly identified control and notify the other audit team members of the change

B.

Proceed with the current audit work program because the engagement scope has already been finalized but plan to address the newly identified control as part of the follow up engagement

C.

Adjust the audit work program to account for the new control, but only with approval from the engagement supervisor

D.

Discuss the control with management of the area under review and seek their approval prior to including the control in the current audit engagement

Buy Now
Questions 99

Which of the following describes the primary objective of an internal audit engagement supervisor?

Options:

A.

Uphold the quality of the internal audit actively

B.

Provide engagement progress updates to management of the area under review

C.

Assure risks and controls are identified and assessed

D.

Ensure timely completion of the engagement

Buy Now
Questions 100

Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?

Options:

A.

Proposing fine item recommendation lot the annual financial budget of the accounting department

B.

Making recommendations regarding financial approval authority limits for the operations department

C.

Validating whether employees are following established policies and procedures in the procurement department

D.

Generating expense report metrics for employees in the finance department

Buy Now
Exam Code: IIA-CIA-Part2
Exam Name: Practice of Internal Auditing
Last Update: Jul 16, 2024
Questions: 377

PDF + Testing Engine

$159.99
$56

Testing Engine

$119.99
$42

PDF (Q&A)

$99.99
$35

IIA Free Exams

IIA Free Exams
Discover free IIA exam prep resources at Examstrack. Access practice tests and study materials to enhance your IIA exam success.