Iia dumpskey cia Iia-cia-part1 Full Course Free by Bruce q204 vce pdf

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Exam Name:	Essentials of Internal Auditing
Exam Code:	IIA-CIA-Part1 Dumps
Vendor:	IIA	Certification:	CIA
Questions:	721 Q&A's	Shared By:	bruce

Question 88

How do assurance services and consulting services differ?

Options:

There is less variety of consulting services that an internal audit activity might provide compared to assurance services

Assurance services are limited to financial events or actions, and consulting services are not limited in this way

Consulting services do not have to be included in the internal audit charter

Other employees in an organization can provide consulting services but only an internal audit activity can provide assurance services

Discussion

Question 89

Which of the following circumstances would most likely be considered a potential red flag for fraud by the internal audit activity?

Options:

The monthly payroll reports are not vetted to ensure terminated employees have been removed from the payroll system.

The volume of nonroutine journal entries has steadily increased over time.

The database of approved suppliers has not been reviewed in the last year.

The recent employee survey indicates that some employees remain unaware of the organization’s whistleblower hotline.

Discussion

Question 90

Which of the following statements is true regarding the importance of risk management?

Options:

Risk management ensures the ability to eliminate potential hazards to the organization.

Risk management includes consideration of potential opportunities for the organization.

Risk management aids with the establishment of appropriate key performance indicators.

Risk management increases employees' commitment and belief in strategic goals.

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Question 91

Nine months ago, an employee who was responsible for collections in the accounts receivables department joined the internal audit team. There is an accounts receivables assurance audit scheduled as part of this year's approved audit plan, which will include a review of the collections unit. With the knowledge and experience of this individual in the area, which of the following is the best approach for the chief audit executive (CAE) to take?

Options:

Have the auditor formerly with the collections unit assist with planning and documenting the audit field work.

Have the auditor formerly with the collections unit not participate on the audit team.

Have the auditor formerly with the collections unit conduct the fieldwork and ensure it is reviewed by the CAE.

Have the auditor formerly with the collections unit review all fieldwork done to ensure that there was adequate coverage.