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IIA-CIA-Part3 Exam Dumps - IIA CIA Questions and Answers

Question # 24

As it relates to the data analytics process, which of the following best describes the purpose of an internal auditor who cleaned and normalized data?

Options:

A.

The auditor eliminated duplicate information

B.

The auditor organized data to minimize useless information

C.

The auditor made data usable for a specific purpose by ensuring that anomalies were identified and addressed

D.

The auditor ensured data fields were consistent and that data could be used for a specific purpose

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Question # 25

An internal auditor has requested the organizational chart in order to evaluate the control environment of an organization. Which of the following is a disadvantage of using the organizational chart?

Options:

A.

The organizational chart shows only formal relationships.

B.

The organizational chart shows only the line of authority.

C.

The organizational chart shows only the senior management positions.

D.

The organizational chart is irrelevant when testing the control environment.

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Question # 26

An organization’s account for office supplies on hand had a balance of $9,000 at the end of year one. During year two, the organization recorded an expense for purchasing office supplies. At the end of year two, a physical count determined that the organization has $11,500 in office supplies on hand. Based on this information, what would be recorded in the adjusting entry at the end of year two?

Options:

A.

A debit to office supplies on hand for $2,500

B.

A debit to office supplies on hand for $11,500

C.

A debit to office supplies on hand for $20,500

D.

A debit to office supplies on hand for $42,500

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Question # 27

An organization with global headquarters in the United States has subsidiaries in eight other nations. If the organization operates with an ethnocentric attitude, which of the following statements is true?

Options:

A.

Standards used for evaluation and control are determined at local subsidiaries, not set by headquarters

B.

Orders, commands, and advice are sent to the subsidiaries from headquarters

C.

People of local nationality are developed for the best positions within their own country

D.

There is a significant amount of collaboration between headquarters and subsidiaries

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Question # 28

Which of the following forms of compensation best indicates that an organization’s cost-saving objectives have been targeted?

Options:

A.

Gain sharing

B.

Commission

C.

Profit sharing

D.

Pension

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Question # 29

Which of the following risks would involve individuals attacking an oil company’s IT system as a sign of solidarity against drilling in a local area?

Options:

A.

Tampering

B.

Hacking

C.

Phishing

D.

Piracy

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Question # 30

Which of the following is a primary driver behind the creation and prioritization of new strategic initiatives established by an organization?

Options:

A.

Risk tolerance.

B.

Performance.

C.

Threats and opportunities.

D.

Governance.

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Question # 31

Which of the following is the best example of a compliance risk that is likely to arise when adopting a bring-your-own-device (BYOD) policy?

Options:

A.

The risk that users try to bypass controls and do not install required software updates

B.

The risk that smart devices can be lost or stolen due to their mobile nature

C.

The risk that an organization intrusively monitors personal information stored on smart devices

D.

The risk that proprietary information is not deleted from the device when an employee leaves

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Question # 32

An organization has 1,000 units of a defective item in stock. Per unit, market price is $10; production cost is $4; and the defect selling price is $5. What is the carrying amount (inventory value) of defects at year-end?

Options:

A.

$0

B.

$4,000

C.

$5,000

D.

$10,000

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Question # 33

An internal auditor is using data analytics to focus on high-risk areas during an engagement. The auditor has obtained data and is working to eliminate redundancies in the data. Which of the following statements is true regarding this scenario?

Options:

A.

The auditor is normalizing data in preparation for analyzing it.

B.

The auditor is analyzing the data in preparation for communicating the results.

C.

The auditor is cleaning the data in preparation for determining which processes may be involved.

D.

The auditor is reviewing the data prior to defining the question.

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Exam Code: IIA-CIA-Part3
Exam Name: Business Knowledge for Internal Auditing
Last Update: Apr 1, 2025
Questions: 416
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