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Vce IIA-CIA-Part3 Questions Latest

Business Knowledge for Internal Auditing Questions and Answers

Question 13

During a payroll audit, the internal auditor is assessing the security of the local area network of the payroll department computers. Which of the following IT controls should the auditor test?

Options:

A.

IT application-based controls

B.

IT systems development controls

C.

Environmental controls

D.

IT governance controls

Question 14

An organization requires an average of 58 days to convert raw materials into finished products to sell. An additional 42 days is required to collect receivables. If the organization takes an average of 10 days to pay for raw materials, how long is its total cash conversion cycle?

Options:

A.

26 days.

B.

90 days.

C.

100 days.

D.

110 days.

Question 15

An investor has acquired an organization that has a dominant position in a mature, slow-growth industry and consistently creates positive financial income. Which of the following terms would the investor most likely label this investment in her portfolio?

Options:

A.

A star

B.

A cash cow

C.

A question mark

D.

A dog

Question 16

According to IIA guidance, which of the following statements is true regarding analytical procedures?

Options:

A.

Data relationships are assumed to exist and to continue where no known conflicting conditions exist

B.

Analytical procedures are intended primarily to ensure the accuracy of the information being examined

C.

Data relationships cannot include comparisons between operational and statistical data

D.

Analytical procedures can be used to identify differences, but cannot be used to identify the absence of differences