[Feb-2023] Certified Internal IIA-CIA-Part2 Exam Practice Test Questions Dumps Bundle! [Q210-Q233]

NEW QUESTION 210
What does the following scatter gram suggest?

NEW QUESTION 211
While preparing the annual audit plan, the newly assigned chief audit executive (CAE) learns that the organization has not yet implemented a risk framework. Which of the following would be the most appropriate action for the CAE to take regarding potential engagements?

NEW QUESTION 212
Which role is not considered a change agent when an organization wants to implement structural changes?

NEW QUESTION 213
According to the International Professional Practices Framework, which of the following is correct regarding conducting and reporting follow-up activities by the internal audit activity (IAA)?

NEW QUESTION 214
Audit supervision includes approval of the engagement report in order to ensure that:

NEW QUESTION 215
An internal auditor found that the cost of some material installed on capital projects had been transferred to the inventory account because the capital budget had been exceeded. Which of the following would be an appropriate technique for the auditor to use to determine the extent of the problem?

NEW QUESTION 216
Which of the following potential performance measures should an auditor recommend excluding from a performance scorecard?

NEW QUESTION 217
An auditor receives anonymous information that fraud is occurring in the operation being audited, but no details are given as to the type of fraud or the individuals involved. There are several areas in which fraud could occur.
The auditor should:

NEW QUESTION 218
Which of the following conditions is the strongest indicator of possible fraud?

NEW QUESTION 219
Which of the following is not an outcome of control self-assessment?

NEW QUESTION 220
Which of the following statements is true regarding the communication of audit engagement observations?

NEW QUESTION 221
According to IIA guidance, which of the following statements best justifies a chief audit executive’s request for external consultants to complement internal audit activity (IAA) resources?

NEW QUESTION 222
Which of the following audit steps would be most effective to review proper recording of and accountability over physical assets?
I. Physically inspect all assets on the organization’s property.
II. Select a sample department and physically inspect assets in the department.
III. Select a sample from the organization’s records of physical assets and physically locate each asset.
IV. Identify assets at a sample of locations and trace to the organization’s records.

NEW QUESTION 223
A company’s policy requires that all customers be treated in a fair and consistent manner. Which of the following audit procedures would provide the most persuasive evidence that the policy was followed?

NEW QUESTION 224
The internal audit activity of an organization obtained approval to add a senior auditor to its staff. The chief audit executive, audit manager, and audit supervisor each will interview the candidates. According to the Standards, which of the following best explains the involvement of management in the interview process?

NEW QUESTION 225
An organization has an opening for an entry-level internal audit position. When interviewing for the position, which of the following is the least important skill for an entry-level internal auditor?

NEW QUESTION 226
After completing a net present value (NPV) calculation on a proposed project, an analyst explores the change in NPV with changes in the interest rate. This additional analysis is referred to as:

NEW QUESTION 227
An organization contracted a third party to construct a new facility that was estimated to cost $25 million. Which of the following is the most pertinent reason for the organization to audit the contractor’s records?

NEW QUESTION 228
Which of the following documents should the chief audit executive review and approve?
—-
Workpaper retention policy.
Audit committee meeting minutes.
Internal audit handbook.
Quarterly financial statements.

NEW QUESTION 229
All of the following tools are employed to control large-scale projects except:

NEW QUESTION 230
According to IIA guidance, which of the following is the most appropriate action to be taken by the chief executive (CAE) if management refuses to accept audit recommendations and implement corrective actions, Even after escalation to senior management?

NEW QUESTION 231
Persuasive evidence indicates that a member of senior management has been involved in insider trading that would be considered fraudulent. However, the evidence was encountered during an operational audit and is not considered relevant to the audit. Which of the following is the most appropriate action for the chief audit executive to take?

NEW QUESTION 232
An auditor evaluating excessive product rejection rates should investigatE.
I.
Communication between sales and production departments on sales returns.
II.
Volume of product sales year-to-date in comparison to prior year-to-date.
III.
Changes in credit ratings of customers versus sales to those customers.
IV.
Detailed product scrap accounts and accumulations.

NEW QUESTION 233
An auditor decides to perform an inventory turnover analysis for both raw materials inventory and finished goods inventory. The analysis would be potentially useful in:
I.Identifying products for which management has not been attuned to changes in market demand.
II.
Identifying potential problems in purchasing activities.
III.
Identifying obsolete inventory.