Sure Pass Exam IIA-CIA-Part2 PDF

Practice of Internal Auditing Questions and Answers

Question 45

Which of the following are advantages of flowcharts over internal control questionnaires''

1 Flowcharts reduce the need to test whether employees are observing internal control processes

2 Flowcharts provide a visual depiction of the processes in the area under review 3. Flowcharts identify and prioritize internal control design weaknesses.

4 Flowcharts highlight the control points to help internal auditors evaluate control design

Options:

1 and 3 only

2 and 4 only.

1.2. and 3 only

2. 3 and 4 only

Question 46

An internal auditor is asked to perform an assurance engagement in the organization's newly acquired subsidiary When developing the objectives tor the engagement which ot the following statements describes the most important items that the auditor needs to consider?

Options:

Previous performance of the subsidiary specifically its financial results over the last three years and the outcome of external audit reviews

The results of previous internal audits of the subsidiary the recommendations provided and whether the recommended actions have been implemented

Organizational strategy objectives, risks, control framework and the expectations of stakeholders regarding the audit

The qualifications and competencies of the subsidiary's management team and their understanding of risk and control

Question 47

According to IIA guidance which of the following represents sufficient information?

Options:

Information that is factual adequate and convincing

Information that is best attainable through the use of appropriate engagement techniques

Information that supports engagement objectives and recommendations

Information that helps the organization meet its goals

Question 48

Management has taken immediate action to address an observation received during an audit of the organization's manufacturing process Which of the following is true regarding the validity of the observation closure?

Options:

Valid closure requires evidence that ensures the corrected process will function as expected in the future

Valid closure requires the client lo address not only the condition, but also the cause of the condition

Valid closure of an observation ensures it will be included in the final engagement report

Valid closure requires assurance from management that the original problem will not recur in the future

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Practice of Internal Auditing Questions and Answers

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