Free Access IIA.IIA-CIA-Part1.v2023-03-29.q231 Practice Test (Page 24)

Question 111

Which of the following best demonstrates that an internal auditor is applying due professional care when planning an assurance engagement?

A.Advising management of the area under review on how to mitigate internal control risks.

B.Conducting the engagement on the presupposition that fraud exists.

C.Assessing the risk of noncompliance with laws and regulations

D.Following the policies as prescribed by the internal audit manual.

Question 112

According to MA guidance, which of the following is the strongest indicator of deficiencies in the risk management process?

A.The periodic evaluation of risk ratings is primarily dependent on subjective assessments.

B.Many aspects of the related enterprise risk management program are informal and undocumented.

C.Separate evaluations of the risk management process were conducted, but the results were never integrated.

D.Management's primary objective is minimizing changes to the structure and operation of the risk management process.

Question 113

Which of the following fraud schemes is often an off-book fraud*?

A.Disbursement fraud

B.Payroll fraud

C.Corruption

D.Information misrepresentation

Question 114

Which of the following actions should the internal audit activity take during an audit engagement when examining the effectiveness of risk management processes?

A.Evaluate how the organization manages fraud risk.

B.Ensure risk responses are aligned with industry standards.

C.Establish procedures for improving risk management processes.

D.Verify that organizational objectives are aligned with each department's objectives.

Question 115

An organization sells products through distributors. The organization's chief audit executive insists that the organization's code of conduct be applicable to their distributors as well. Which of the following risks would this mitigate?

A.intellectual property leakage

B.Market manipulation

C.Reputational damage

D.Business continuity

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Question 111

Question 112

Question 113

Question 114

Question 115

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