IIA IIA-CIA-Part2 Exam With Confidence Using Practice Dumps

A risk-based approach to control self-assessment focuses on aligning the organization’s business objectives with the risks managed by specific work units. This method ensures that the controls are effectively designed and operated to mitigate risks that could impede achieving business objectives. Options A, B, and C describe evaluating controls and processes in specific contexts but do not illustrate the primary focus of linking business objectives with the associated risks at the work unit level, which is central to a risk-based approach.References:

IIA Practice Guide on Control Self-Assessment.

IIA Standard 2120: Risk Management.

Adding invoices to the computer program to assess the reliability and effectiveness of the review process and whether controls work best describes an internal auditor's use of test data. This approach involves introducing test data into the system to evaluate how well the system processes invoices and whether it effectively identifies and prevents questionable invoices from being processed for payment.

References:

IIA Standards: 1220.A2 - Proficiency and Due Professional Care

IIA Practice Guide: Use of Technology in Auditin

by a grantee that received a charitable contribution, the most effective method is to visit the grantee and directly assess whether the project execution aligns with the scope defined in the grant. This method provides firsthand evidence of the grantee’s activities and ensures that the charitable contributions are used as intended.

IIA Standard 2310 – Identifying Information:

This standard requires that internal auditors gather sufficient, reliable, relevant, and useful information to achieve the engagement objectives. Visiting the grantee allows auditors to observe and verify the actual execution of the project, which provides the most direct and reliable evidence.

Field Visits:

Conducting a site visit enables auditors to see the project in action, interview relevant personnel, and compare actual activities to what was promised in the grant proposal. This method helps ensure that the grantee is fulfilling its obligations and that the organization’s charitable funds are being used effectively.

Direct Evidence:

Direct observation of the grantee’s activities provides the highest level of assurance regarding the validity of the reported activities. This aligns with IIA’s emphasis on obtaining the best available evidence to support audit findings.

Option B (Verifying final report vs. initial budget): This only compares reports, which might not accurately reflect the actual activities conducted by the grantee.

Option C (Reconciling general ledger accounts): This focuses on financial records, which may not provide sufficient detail about the actual activities conducted.

Option D (Interviewing corporate affairs employees): While informative, this method only provides secondhand information and does not directly verify the grantee’s activities.

Detailed Explanation:Why Not Other Options?Conclusion: Option A is correct because visiting the grantee provides the most reliable and direct evidence that the activities are in line with the grant’s defined scope, ensuring the validity of the grantee’s reported activities.