Changed IIA-CIA-Part1 Exam Questions

Essentials of Internal Auditing Questions and Answers

Question 61

At a conference, an interna! auditor presented a new computer-assisted audit technique developed by his organization. The presentation included sample data derived from performing audit engagements for the organization. Travel costs were paid by the conference organizers, and the trip was approved by the chief audit executive (CAE).

However, neither management nor the CAE was aware that the internal auditor would be making a presentation based on work completed for the organization. According to IIA guidance, which of the following statements is most relevant regarding the actions of the auditor?

Options:

The auditor did not violate the standard of objectivity because the presentation had no impact on the organization.

The auditor violated the principle of confidentiality by disclosing information about the organization without approval.

The auditor should have obtained permission before using the material, but did not violate the IIA Code of Ethics or Standards,

The auditor breached the conflict of interest standard by accepting payment for travel costs

Question 62

Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

Options:

Planning an engagement of the area in which fraud is suspected.

Employing audit tests to detect fraud.

Interrogating a suspected fraudster

Completing a process review to improve controls to prevent fraud

Question 63

Which of the following controls would best mitigate the risk of fraud in the bidding process?

Options:

Have a bidding committee open the tender bids.

Restrict the time to submit tender bids.

Keep minutes of pre-bid meetings.

Allow the higher tenders to rebid.

Question 64

Which of the following best illustrates the application of due professional care during an audit of the procurement department?

Options:

The internal auditor began checking purchase requisitions for proper authorizations. He stopped when he discovered an instance of noncompliance. and he concluded the controls were ineffective.

The internal auditor discovered an instance where management did not follow the standard bidding processes. The auditor assessed the validity of management’sreasons for deviating from standard practice and the supporting documentation, and determined that the deviation was acceptable.

The internal auditor selected a sample of purchase orders with amounts greater than S5.000, the threshold at which the organization requires a bidding process. The auditor obtained documentation of the bidding process for each purchase order in the sample.

The internal auditor analyzed bidding documents provided by management. Management indicated that the documents were purchase orders issued to a sole-source vendor Based on the analysis and management's declaration, the internal auditor determined that the procurement process was effective.

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Essentials of Internal Auditing Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce