IIA-CIA-Part1 Premium Exam Questions

Essentials of Internal Auditing Questions and Answers

Question 9

Which of the following controls would be most useful to prevent an employee from using the organization's funds for inappropriate expenditures and falsifying financial records to conceal the fraud?

Options:

Segregating duties in the payroll processes.

Confirming receipt of goods or services.

Performing background checks on newly hired employees.

Requiring management approval for expenses.

Question 10

In which of the following ways can a whistleblower hotline serve as a prevent

Options:

ative control? 3

Third parties who operate the hotline ensure anonymity for whistle blowers. D Whistleblower tips help discover wrongdoings and violations of the code of conduct.

Potential perpetrators of fraud know that their actions can be reported easily.

Better investigation protocols are triggered by the whistleblower hotline.

Question 11

Which of the following must be considered by the chief audit executive before writing the internal audit charter?

Options:

Internal auditors' level of competencies and skills.

The manner in which the internal audit activity is viewed by the board.

Evaluation of staff certifications and continued development.

Effectiveness of the quality assurance and improvement program.

Question 12

A new chief audit executive realized that the internal audit charter has not been updated in five years and only includes the Core Principles for the Professional Practice of Internal Auditing, the Code of Ethics, and the Standards. What mandatory component is missing?

Options:

Statement of Independence.

Operating Procedures of Internal Auditing.

Definition of Internal Auditing.

Attestation of Quality Assurance.

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Essentials of Internal Auditing Questions and Answers

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