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IIA Updated IIA-CIA-Part2 Exam Questions and Answers by preston

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IIA IIA-CIA-Part2 Exam Overview :

Exam Name: Practice of Internal Auditing
Exam Code: IIA-CIA-Part2 Dumps
Vendor: IIA Certification: CIA
Questions: 495 Q&A's Shared By: preston
Question 48

Upon completing a follow-up audit engagement, the chief audit executive (CAE) noted that management has not implemented any mitigation measures to address the high

risks that were reported in the initial audit report. What initial step must the CAE take to address this situation?

Options:

A.

Communicate the issue to senior management.

B.

Discuss the issue with members of management responsible for the risk area.

C.

Report the situation to the external auditors.

D.

Escalate the issue to the board.

Discussion
Question 49

In order to obtain background information on an assigned audit of data center operations an internal auditor administers control questionnaires to select individuals who have primary responsibilities within the process. Which of the following is a drawback of this approach?

Options:

A.

It will be difficult to quantify the information obtained through this approach

B.

This approach does not help the auditor learn about the existence of controls

C.

It takes the auditor a long time to assess the relevant controls using this approach

D.

Information on control functionality is limited

Discussion
Question 50

An examination of the accounts payable function evidenced multiple findings with respect to segregation of duties. After management's response and action plan are received and documented in the final report, which of the following is most appropriate?

Options:

A.

Follow up after the applicable changes have been incorporated to validate management’s response.

B.

Include the items in the scope of the next scheduled audit of the accounts payable function.

C.

Because management agreed with the findings, no further action is deemed necessary.

D.

Have an internal audit staff member placed into the accounting department until corrections are made.

Discussion
Question 51

An organization is experiencing a significant risk that threatens its financial well-being Senior management requested that the chief audit executive (CAE) meet with them to discuss the risk. Which of the following would best describe the CAE's responsibility at the meeting?

Options:

A.

Inform senior management of the appropriate actions they should take to control the risk

B.

Recommend that the internal audit activity provide consulting services to help minimize the risk

C.

Assume the responsibility of resolving the significant risk that will affect the organization

D.

Determine whether senior management accepted risk that may be deemed unacceptable for the organization

Discussion
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