Online Access Free IIA-CIA-Part1 Practice Test

According to IIA guidance, which of the following best describes expense reimbursement fraud?

• A.Theft of assets through fictitious or inflated invoices
• B.Theft of cash before it is recorded in the books
• C.Theft of cash after it is recorded in the books
• D.Theft of assets through false mileage travel logs and meal charges

Which of the following internal controls best mitigates the risk of corruption schemes between employees and vendors?

• A.Establishing policies that prohibit an employee from receiving gifts from an interested party.
• B.Having strong management oversight of the purchasing and accounts payable functions.
• C.Conducting regular examinations of documentation both paper and electronic.
• D.Having employees sign annual attestations that they adhere to the organization ' s code of ethics.

According to IIA guidance, which of the following conditions would enhance the independence of the internal audit activity?

• A.The organizational culture rewards critical and objective thinking.
• B.The quality of work performed by the internal audit activity is periodically reviewed.
• C.The organization establishes effective governing body oversight.
• D.Audit assignments are rotated among internal audit staff.

Anew internal auditor suspects fraud is taking place. Which action should the new auditor take?

• A.Document supporting information and recommend an investigation to the appropriate audit management.
• B.Inform the chief audit executive and meet with the suspect to determine whether the person committed fraud.
• C.Evaluate existing controls and implement new procedures to mitigate the opportunity for fraud.
• D.Collect relevant audit evidence and begin working with management of the area to investigate the fraud.

A chief audit executive (CAE) is concerned that the internal audit activity is not receiving adequate training and continuing education. Which of the following approaches should the CAE take?

• A.Require training and developmental activities that are sponsored by The HA.
• B.Create a formal development agreement with each individual staff auditor.
• C.Require each internal auditor to obtain the same professional certifications.
• D.Implement a uniform professional development plan for the internal audit activity.