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Vce IIA-CIA-Part1 Questions Latest

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Total 721 questions

Essentials of Internal Auditing Questions and Answers

Question 145

The internal auditor obtained large volumes of transaction history data for accounts on which he suspected that some fraudulent transactions occurred. Which of the following actions best demonstrates due professional care by the internal auditor?

Options:

A.

The internal auditor carefully scrutinized the data by manually reviewing each transaction to ensure that all irregularities were identified.

B.

The internal auditor employed the use of data analytics tools to sort, analyze, and detect anomalies in the data

C.

The internal auditor started the data analysis process by selecting a random sample of transactions on which to perform further tests.

D.

The internal auditor requested that the branch supervisor assist in identifying fraudulent transactions, as he was most familiar with the accounts being audited.

Question 146

Management is installing security cameras to identify unauthorized physical access to the organization's warehouse. This is an example of which of the following types of controls?

Options:

A.

Detective controls.

B.

Key controls.

C.

Primary controls.

D.

Preventive controls

Question 147

A whistleblower reveals to the chief audit executive (CAE) detailed allegations of potential fraud at the senior management level. Although the CAE has some experience in the area, she chooses to retain an external fraud expert to conduct the investigation. When asked by the director of finance to defend the expenditure, which of the following statements represents the CAE's best response?

Options:

A.

The CAE refers to the Standards and explains that to protect her independence, she needs to remain isolated from the investigation.

B.

The CAE refers to the Standards and explains that the internal audit activity must obtain competent assistance if needed.

C.

The CAE refers to the Standards and explains that to protect her objectivity, she needs to remain isolated from the investigation.

D.

The CAE describes the specifics of the allegation to underscore the importance of the situation and the need for expert investigation

Question 148

An internal audit team received the following feedback from operational management via a post-engagement survey "Management agrees with all audit findings However, the audit team did not consider our input on the best way to resolve the issues”

This feedback is an indication that the internal audit activity may need to improve which of the following interpersonal skills?

Options:

A.

Leadership

B.

Conflict management

C.

Communication

D.

Influence

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Total 721 questions