Iia passcert iia-cia-part3 Vce Exam Download by Francesco q204 vce pdf

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Exam Name:	Business Knowledge for Internal Auditing
Exam Code:	IIA-CIA-Part3 Dumps
Vendor:	IIA	Certification:	CIA
Questions:	416 Q&A's	Shared By:	francesco

Question 28

Which of the following techniques would best detect on inventory fraud scheme?

Options:

Analyze invoice payments just under individual authorization limits.

Analyze stratification of inventory adjustments by warehouse location.

Analyze Inventory Invoice amounts and compare with approved contract amounts.

Analyze differences discovered curing duplicate payment testing.

Discussion

Question 29

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

Options:

$4,000

$5,000

$10,000

Discussion

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Question 30

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:

The auditor is normalizing data in preparation for analyzing it.

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

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

The auditor is reviewing trio data prior to defining the question

Discussion

Question 31

How do data analysis technologies affect internal audit testing?

Options:

They improve the effectiveness of spot check testing techniques.

They allow greater insight into high risk areas.

They reduce the overall scope of the audit engagement,