Free Access IIA.IIA-CIA-Part1.v2022-07-16.q118 Practice Test (Page 23)

Question 106

Which of the following scenarios would represent the greatest threat to the authority of the internal audit activity (IAA)?

A.A change was implemented requiring the IAA to report administratively to the organization's chief legal counsel rather than the board.

B.Responsibility for risk management processes were removed from the IAA and placed under a newly created chief risk officer.

C.The IAA was denied access to expenditure and budget requirement reports because the reports were considered to be financial administrative matters.

D.An internal auditor was informed by the chief financial officer that client survey results would be unfavorable unless the auditor changed a finding in the report.

Question 107

Which of the following best describes the assessment of risks?

A.Assess the amount of risk an organization can accept while pursuing its objectives.

B.Assess the likelihood and/or impact of risk on the achievement of organizational objectives.

C.Assess the actions necessary to reduce the likelihood and/or impact of risk to tolerable levels.

D.Assess alternative strategies to reduce or eliminate major risks.

Question 108

An organization is beginning to implement an enterprise risk management program. One of the first steps is to develop a common risk language. Which of the following statements about a common risk language is true?

A.Management will be able to reduce inherent risk because they will have a better understanding of risk.

B.Internal auditors will be able to reduce their sample sizes because controls will be more consistent.

C.Stakeholders will have more assurance that the risks are assessed consistently.

D.Decision makers will understand that the likelihood of missing or ineffective controls will be reduced.

Question 109

A chief audit executive (CAE) is planning to issue an annual report concluding on the overall effectiveness of the organization's internal control system. According to the Standards, which of the following is likely the most significant challenge facing the CAE when creating the report?

A.Assessing control effectiveness is complicated by inherent risks.

B.The opinion is dependent on complex analyses of numerous internal audit engagements carried out over the prior year.

C.The opinion is only issued once a year, limiting its usefulness.

D.The opinion must include difficult to measure risks such as the risks of management override of controls, and collusion among dishonest personnel.

Question 110

Which of the following best explains why integrity is a necessary personal quality for internal auditors at all levels?

A.Internal auditor integrity enables stakeholders to constantly question the work of the internal audit activity.

B.Internal auditor integrity enables users of internal auditors' work to make important business decisions.

C.Internal auditor integrity enables the internal auditor to avoid being challenged by any party in the organization.

D.Internal auditor integrity enables the internal audit activity to be able to demonstrate independence.

Other Version: 1002IIA.IIA-CIA-Part1.v2025-05-21.q605; 3357IIA.IIA-CIA-Part1.v2024-09-23.q699; 2039IIA.IIA-CIA-Part1.v2023-11-09.q158; 2714IIA.IIA-CIA-Part1.v2023-04-17.q104; 6493IIA.IIA-CIA-Part1.v2023-03-29.q231; 3622IIA.IIA-CIA-Part1.v2023-02-22.q207; 4130IIA.IIA-CIA-Part1.v2023-02-14.q152; 4267IIA.IIA-CIA-Part1.v2023-02-01.q147; 4681IIA.IIA-CIA-Part1.v2022-02-22.q141; 126IIA.Prepawayete.IIA-CIA-Part1.v2021-09-10.by.earl.163q.pdf

Latest Upload: 117Oracle.1Z0-1057-23.v2025-09-10.q47; 150Google.Professional-Cloud-Network-Engineer.v2025-09-09.q179; 131SAP.C-S4EWM-2023.v2025-09-08.q83; 162TheSecOpsGroup.CNSP.v2025-09-08.q20; 220CFAInstitute.ESG-Investing.v2025-09-08.q173; 155PECB.ISO-IEC-27001-Lead-Implementer.v2025-09-06.q132; 145Salesforce.Data-Architect.v2025-09-05.q216; 139Adobe.AD0-E605.v2025-09-05.q50; 183Nutanix.NCP-MCI-6.10.v2025-09-05.q55; 114Oracle.1z0-591.v2025-09-05.q104

Question 106

Question 107

Question 108

Question 109

Question 110

Download PDF File