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IIA IIA-CIA-Part2 Exam Sample Questions


Question # 1

An internal auditor has just undertaken an organization-wide risk assessment. In identifying
potential audit engagements the internal auditor should consider least:

A.

Focusing on the high risk areas as sources of potential engagements.

B.

Focusing in areas not audited last year.

C.

Factoring in management requests.

D.

Focusing on those risks highlighted by the external auditor



B.

Focusing in areas not audited last year.






Question # 2

The external auditor has identified a number of production process control deficiencies involving
several departments. As a result, senior management has asked the internal audit activity to
complete internal control training for all related staff. According to IIA guidance, which of the
following would be the most appropriate course of action for the chief audit executive to follow?

A.

Refuse to accept the consulting engagement because it would be a violation of independence.

B.

Collaborate with the external auditor to ensure the most efficient use of resources.

C.

Accept the engagement but hire an external training specialist to provide the necessary
expertise.

D.

Accept the engagement even if the audit engagement staff was previously responsible for
operational areas being trained.



D.

Accept the engagement even if the audit engagement staff was previously responsible for
operational areas being trained.






Question # 3

During the development of a purchasing system, an auditor reviewed the payment authorization
program. Which of the following actions should the auditor recommend for a situation in which the
quantity invoiced is greater than the quantity received?

A.

Issue an exception report

B.

Pay the amount billed and adjust the inventory account for the difference.

C.

Return the invoice to the vendor for correction.

D.

Authorize payment of the full invoice, but maintain an open purchase order record for the
missing goods.



A.

Issue an exception report






Question # 4

Which of the following is a responsibility of the internal auditor once a fraud investigation has been
concluded?

A.

Ascertain the extent to which fraud has been perpetrated.

B.

Notify the appropriate regulatory authorities regarding the outcome of the investigation.

C.

Determine if controls need to be implemented or strengthened to reduce future vulnerability.

D.

Implement controls to prevent future occurrences



C.

Determine if controls need to be implemented or strengthened to reduce future vulnerability.






Question # 5

Which of the following is the best problem-solving technique to use when analyzing performance
and cost?

A.

Value analysis.

B.

Attribute listing.

C.

Brainstorming.

D.

Component analysis.



A.

Value analysis.





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