2022 IIA-CIA-Part1 Question Bank: Free PDF Download Recently Updated Questions
IIA-CIA-Part1 Certification Exam Dumps with 190 Practice Test Questions
IIA IIA-CIA-Part1 Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
NEW QUESTION 15
Which of the following statements regarding segregation of duties is true?
- A. When evaluating an organization's policy on segregation of duties, employee competence does not need to be considered.
- B. Policies on segregation of duties in information systems must recognize the difference between logical and physical access to assets.
- C. A restrictive segregation-of-duties policy can help improve an organization's communication.
- D. An organizational chart provides an accurate definition of segregation of duties.
Answer: B
NEW QUESTION 16
An organization receives the most value from an internal audit activity's enterprise-wide risk assessment when the auditor:
- A. Reviews special projects and new initiatives.
- B. Validates supporting financial and operational data.
- C. Considers activities at all levels of the organization.
- D. Focuses primarily on enterprise-level risks.
Answer: C
Explanation:
Section: Volume B
NEW QUESTION 17
According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization's social responsibility program is effective?
- A. Board of directors.
- B. Internal audit activity.
- C. Senior management.
- D. All employees.
Answer: A
NEW QUESTION 18
According to IIA guidance, which of the following statements is true regarding the reporting of results from a quality assurance and improvement program review of the internal audit activity?
- A. The results are communicated upon completion to the board and management, but action plans for recommended improvements do not have to be reported.
- B. The results are reported upon completion in confidence directly to the board, and management is advised only of the recommendations and improvement action plans.
- C. A report on the results of the assessment is issued upon completion, and progress on implementing recommended improvements must be reported monthly.
- D. The results are shared with the board and management upon completion, and monitoring of recommended improvements must be reported at least annually.
Answer: D
NEW QUESTION 19
Internal control processes in an organization require that all investments exceeding $20, 000 receive authorization from both the president and treasurer. After conducting a sample of these transactions, an auditor determined that 10 of the 500 investments in the sample had not included both required authorizations.
The sample has a five percent acceptable error rate. Based on this sample, which of the following actions should the auditor take?
- A. Confirm all of the investments with the organization's internal finance department.
- B. Complete a comprehensive review of the organization's investment activity and compare variations over prior years.
- C. Contact the organization's investment broker and confirm all investments.
- D. Determine that no further testing of investment authorizations is required.
Answer: D
Explanation:
Section: Volume D
NEW QUESTION 20
Which of the following is not a role of the internal audit activity in facilitating risk identification and evaluation?
- A. Supporting managers to identify ways to mitigate risks.
- B. Providing assurance that risks are evaluated correctly.
- C. Recommending accountability for risk management.
- D. Evaluating risk management processes.
Answer: C
NEW QUESTION 21
Which of the following actions would be considered a violation of the Standards?
I.Drafts of engagement communications were reviewed with the audit client to obtain input. The client's comments were considered when developing the engagement final communication.
II.An auditor participated as part of a development team to review the control procedures to be incorporated into a major computer application under development.
III.Given limited resources,the chief audit executive performed a risk analysis to determine which functions to audit.
- A. I and IIIonly
- B. IIonly
- C. I,II,and III.
- D. None of the above.
Answer: D
NEW QUESTION 22
An internal auditor is using mean-per-unit sampling to estimate the value of health benefit claims for a period. The auditor's desired precision is $20, 000. If the achieved precision is $10, 000, which of the following conditions is implied?
- A. The standard deviation is larger than expected.
- B. The value of claims is understated.
- C. The standard deviation is smaller than expected.
- D. The value of claims is overstated.
Answer: C
NEW QUESTION 23
An internal auditor is reviewing a new automated human resources system. The system contains a table of pay rates which are matched to the employee job classifications. The best control to ensure that the table is updated correctly for only valid pay changes would be to:
- A. Ensure that adequate edit and reasonableness checks are built into the automated system.
- B. Require that all pay changes be signed by the employee to verify that the change goes to a bona fide employee.
- C. Require a supervisor in the department, who does not have the ability to change the table, to compare the changes to a signed management authorization.
- D. Limit access to the data table to management and line supervisors who have the authority to determine pay rates.
Answer: C
Explanation:
Section: Volume A
NEW QUESTION 24
The primary objective of risk-based auditing is to assess the:
- A. Adequacy of controls.
- B. Compliance with controls.
- C. Economy of controls.
- D. Efficiency of controls.
Answer: A
Explanation:
Section: Volume B
NEW QUESTION 25
A computer system automatically locks a user's account after three unsuccessful attempts to log on.
Which type of control does this scenario represent?
- A. Corrective control.
- B. Detective control.
- C. Compensating control.
- D. Preventive control.
Answer: D
Explanation:
Section: Volume E
NEW QUESTION 26
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?
- A. To identify inefficiencies within the internal audit team.
- B. To identify key risks and areas of concern within the organization.
- C. To help improve the overall quality of the internal audit activity's work.
- D. To help the internal audit activity complete its annual assurance plan.
Answer: C
NEW QUESTION 27
According to the International Professional Practices Framework, risk is:
I.Defined as the negative effect of events that are expected to occur.
II.
Measured in terms of consequences.
III.
Measured in terms of likelihood.
- A. II and III only.
- B. I, II, and III.
- C. I and II only.
- D. I only.
Answer: A
NEW QUESTION 28
According to The IIA's Code of Ethics, which of the following actions violates the principle of confidentiality?
- A. Providing personal tax preparation services for a fee for several employees during the lunch hour.
- B. Accepting a consulting request in the IT department without possessing the requisite experience.
- C. Agreeing to reword an observation to avoid the client complaining directly to the auditor's supervisor.
- D. Providing a friend with the marketing strategic plan, which she will use to prepare her university thesis.
Answer: D
NEW QUESTION 29
Which of the following procedures would be most effective in detecting fraud in electronically-submitted claims to insurance companies?
- A. Testing the accuracy of processing by using integrated test facilities.
- B. Using generalized audit software to match the claimant identification number with a master list of valid policyholders.
- C. Creating a monitoring program that detects unusual claims to be investigated by the claims department.
- D. Creating batch controls over all claims arriving from a particular organization and process those claims separately.
Answer: C
NEW QUESTION 30
An internal auditor for a large bank is reviewing the collectability of a loan that is secured by real property. The best evidence of the loan's collectability would be:
- A. The borrower's confirmation of the loan balance.
- B. A recent independent appraisal of the value of the real property.
- C. A document showing the loan committee's approval of the loan.
- D. A properly completed and signed loan application form.
Answer: B
Explanation:
Section: Volume C
NEW QUESTION 31
Which the following activities should be performed by the internal audit activity to facilitate an effective relationship with the audit committee?
1. Periodically report about the accounting standards followed by the organization.
2. Provide assurance to the audit committee that its charter, activities, and processes are appropriate.
3. Ensure that the role and activities of the internal audit activity are clearly understood and responsive to the needs of the audit committee.
4. Maintain open and effective communications with the audit committee.
- A. 1, 3, and 4 only
- B. 1 and 2 only
- C. 2, 3, and 4 only
- D. 3 and 4 only
Answer: C
Explanation:
Section: Volume E
Explanation/Reference:
NEW QUESTION 32
......
New IIA-CIA-Part1 Exam Dumps with High Passing Rate: https://endexam.2pass4sure.com/Certified-Internal/IIA-CIA-Part1-actual-exam-braindumps.html