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IIA IIA-CIA-Part3 Actual Questions

Business Knowledge for Internal Auditing Questions and Answers

Question 29

Capital budgeting involves choosing among various capital projects to find the one(s) that will maximize a company's return on its financial investment. Which of the following parties approves the capital budget?

Options:

A.

Board of directors.

B.

Senior management.

C.

Chief financial officer.

D.

Accounting personnel.

Question 30

Which of the following statements best describes the current state of data privacy regulation?

Options:

A.

Regulations related to privacy are evolving and complex, and the number of laws is increasing

B.

Most privacy laws are prescriptive and focused on organizations’ privacy rights

C.

The concept of data privacy is well established, privacy regulations are mature, and minimal regulatory changes are expected

D.

Because the concept of privacy is different around the world, data privacy is relatively unregulated

Question 31

Which of the following is a systems software control?

Options:

A.

Restricting server room access to specific individuals.

B.

Housing servers with sensitive software away from environmental hazards.

C.

Ensuring that all user requirements are documented.

D.

Performing intrusion testing on a regular basis.

Question 32

Which of the following is a result of implementing an e-commerce system that relies heavily on electronic data interchange (EDI) and electronic funds transfer (EFT) for purchasing and billing?

Options:

A.

Higher cash flow and treasury balances.

B.

Higher inventory balances.

C.

Higher accounts receivable.

D.

Higher accounts payable.