Free Access IIA.IIA-CIA-Part1.v2023-02-22.q207 Practice Test (Page 25)

Question 116

Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?

A.Periodically count the cash in the register and compare it to the expected amount

B.Separate the duties of processing and authorizing refunds on merchandise

C.Post signs in the register area prompting customers to ask for and examine their sales receipts

D.Use cash registers with internal tapes that are tamper proof and that require a manager to process voids or refunds

Question 117

At the beginning of an IT development project key risks were identified and assessed and risk owners were appointed Six months later the IT development team reported that the project Is significantly over budget, it will not be completed on time and key personnel had left the organization. Which of the following risk management practices should be improved for future projects?

A.Risk monitoring.

B.Risk avoidance.

C.Risk response.

D.Risk assessment

Question 118

Which of the following is true about a system of internal control?

A.Strategy should fit the system of internal control.

B.Internal control should be updated at least annually.

C.Articulating measurable objectives is part of internal control.

D.Technology does not change the internal control landscape.

Question 119

According to IIA guidance, which of the following is the most accurate statement regarding the internal audit charter?

A.The charter provides a framework for performing a broad range of value-added audit services.

B.The charter must be approved by both senior management and the board.

C.The nature of consulting services does not need to be defined in the internal audit charter.

D.The IIA's Code of Ethics must exist outside of the charter to maintain independence.

Question 120

According to The IIA's Code of Ethics, which of the following best describes the principle of integrity?

A.Auditors shall be prudent in the use and protection of information acquired in the course of their duties

B.Auditors shall disclose all material facts known to them that if not disclosed may distort the reporting of activities under review

C.Auditors shall engage only in those services for which they have the necessary knowledge skills and experience

D.Auditors shall observe the law and make disclosures expected by the law and the profession

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Question 116

Question 117

Question 118

Question 119

Question 120

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