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Selected IIA-CIA-Part2 CIA Questions Answers

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Question 40

During an assurance engagement, an internal auditor noted that the time staff spent accessing customer information in large Excel spreadsheets could be reduced significantly through the use of macros. The auditor would like to train staff on how to use the macros. Which of the following is the most appropriate course of action for the internal auditor to take?

Options:

A.

The auditor must not perform the training, because any task to improve the business process could impact audit independence.

B.

The auditor must create a new, separate consulting engagement with the business process owner prior to performing the improvement task.

C.

The auditor should get permission to extend the current engagement, and with the process owner's approval, perform the improvement task.

D.

The auditor may proceed with the improvement task without obtaining formal approval, because the task is voluntary and not time-intensive.

Question 41

Which of the following should be included in a privacy audit engagement?

1. Assess the appropriateness of the information gathered.

2. Review the methods used to collect information.

3. Consider whether the information collected is in compliance with applicable laws.

4. Determine how the information is stored.

Options:

A.

1 and 3 only

B.

2 and 4 only

C.

1, 3, and 4 only

D.

1, 2, 3, and 4

Question 42

Which of the following statements is true regarding internal controls?

Options:

A.

For assurance engagements internal auditors should plan to assess the effectiveness of all entity-level controls

B.

Poorly designed or deficient entity-level controls can prevent well-designed process controls from working as intended.

C.

During engagement planning, internal auditors should not discuss the identified key risks and controls with management of the area under review to prevent tipping off probable audit lasts

D.

Reviewing process maps and flowcharts is an appropriate method for the internal a auditor to identify all key risks and controls during engagement planning

Question 43

An internal auditor completed a review of expenses related to the launch of a new project. The auditor sampled 45 transactions approved by a senior project manager and identified 30 with questionable vendor documentation. Which of the following is the most appropriate conclusion for the auditor to include in the audit report?

Options:

A.

The organization incurred excessive cost overruns that resulted in significant financial and legal risk to the project.

B.

The organization experienced a potential conflict of interest

C.

The organization had weaknesses in its review process which allowed questionable transactions with some vendors

D.

The organization allowed the project to launch without assurance that all transactions were regularly approved

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Exam Code: IIA-CIA-Part2
Exam Name: Practice of Internal Auditing
Last Update: Dec 22, 2024
Questions: 482
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