PDF IIA-CIA-Part2 Study Guide

Practice of Internal Auditing Questions and Answers

Question 33

According to IIA guidance, organizations have the most influence on which element of fraud?

Options:

Opportunity.

Rationalization.

Pressure.

Incentives.

Question 34

In order to obtain background information on an assigned audit of data center operations an internal auditor administers control questionnaires to select individuals who have primary responsibilities within the process. Which of the following is a drawback of this approach?

Options:

It will be difficult to quantify the information obtained through this approach

This approach does not help the auditor learn about the existence of controls

It takes the auditor a long time to assess the relevant controls using this approach

Information on control functionality is limited

Question 35

Which of the following reasonably represents best practices regarding what should be the level of internal audit resource investment in monitoring and following up on engagement outcomes?

Options:

Limited resources should be employed since the actual engagement is already completed and the onus of corrective actions rests with management

No resources should be exclusively deployed for that at all rather it should be planned as part of future engagements in the same area

Resources should only be provided towards this if doing so does not result in depletion of resources for new engagements planned in the current period

Resources should be allocated to this without conditions as long as doing so meets the expectations of management and the judgment of the chief audit executive.

Question 36

According to IIA guidance, which of the following is true regarding audit supervision?

1. Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.

2. Supervision should extend to training, time reporting, and expense control, as well as administrative matters.

3. Supervision should include review of engagement workpapers, with documented evidence of the review.

Options:

1 and 2 only

1 and 3 only

2 and 3 only

1, 2, and 3

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Practice of Internal Auditing Questions and Answers

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