Iia examstrust iia Iia-cia-part2 Online Access by Julius q252 vce pdf

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Exam Name:	Practice of Internal Auditing
Exam Code:	IIA-CIA-Part2 Dumps
Vendor:	IIA	Certification:	CIA
Questions:	463 Q&A's	Shared By:	julius

Question 84

Which of the following actions is the most appropriate response for an internal auditor to take when a significant risk is identified during a consulting engagement?

Options:

Report the risk identified from the consulting engagement to senior management.

Do not include the risk in the assessment of risk management processes, as that is management's responsibility.

Do not report the risk, as it is out of scope for the consulting engagement.

Include the risk identified from the consulting engagement in the next annual risk assessment only if it is part of the consulting engagement objectives.

Discussion

Question 85

According to IIA guidance, which of the following is true regarding audit supervision?

1. Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.

2. Supervision should extend to training, time reporting, and expense control, as well as administrative matters.

3. Supervision should include review of engagement workpapers, with documented evidence of the review.

Options:

1 and 2 only

1 and 3 only

2 and 3 only

1, 2, and 3

Discussion

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Question 86

Which of the following is true about surveys?

Options:

A survey with open-ended questions is weaker than a structured interview

A survey with closed-ended questions can produce quantifiable evidence

A survey's participants are likely to volunteer information that was not specifically requested

A survey, like inspections and confirmations are best used to test the operating effectiveness of controls

Discussion

Question 87

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?

Options:

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

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

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

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