Pass Using IIA-CIA-Part2 Exam Dumps

Practice of Internal Auditing Questions and Answers

Question 5

An internal auditor has suspicions that the management of a department splits me number of planned purchases to avoid the approval process required for larger purchases. Which of the following would be the most efficient technique to help the auditor identify the seventy of this malpractice?

Options:

Examining the entire population

Asking management about the malpractice

Testing a sample of random transactions.

Using data analytics

Question 6

An organization s inventory is stored m multiple warehouses. During an inventory audit which of the following activities would most benefit from the use of computerized audit tools?

Options:

Verifying the existence of inventory items in each warehouse

Assigning the tolerable deviation rate to determine the sample size

Valuating the obsolete Inventory from all the warehouse locations

Confirming that the purchased items are recorded In the correct period

Question 7

According to IIA guidance, which of the following statements is false regarding a review of the controls in place to prevent fraud?

Options:

The review should focus on the efficiency of the controls in place to prevent fraud.

The scope of the review does not need to include all operating areas of the organization.

The cost of the control should be compared to the benefit of mitigating the related risk.

The review should assess whether the internal controls can be circumvented.

Question 8

Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?

Options:

Tracing

Reperformance

Vouching

Walkthrough

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Practice of Internal Auditing Questions and Answers

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