Free Access IIA.IIA-CIA-Part1.v2023-03-29.q231 Practice Test (Page 26)

Question 121

Which of the following statements is true regarding consulting engagements?

A.If internal auditors lack the knowledge, skills, or other competencies needed to perform the consulting engagement, the engagement can proceed with proper disclosures.

B.The nature of consulting services to be performed by internal auditors must be defined in the internal audit charter

C.If internal auditors have potential impairments to objectivity related to the proposed consulting engagement, the engagement must be declined.

D.Internal auditors cannot provide consulting services related to operations for which they had previous responsibilities.

Question 122

Which of the following is a consulting service the internal audit activity can perform with respect to the organization's risk management'?

A.Facilitating risk assessment workshops

B.Delivering assurance on the risk management system

C.Deciding on the appropriate risk response

D.Evaluating principal risk reporting

Question 123

Which of the following actions best demonstrates an internal auditor exercising due professional care?

A.Establishing audit objectives, performing audit tests, and implementing missing controls

B.Using technology and data analysis techniques for efficiency

C.Enhancing knowledge, skills, and other competencies through professional development

D.Testing an entire population, even when a sample would suffice

Question 124

A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annual snowfall for the coming winter. Which of the following best describes this type of risk?

A.Inherent.

B.Residual.

C.Accepted.

D.Net.

Question 125

Which of the following best describes a purpose for the internal audit charter?

A.The internal audit charter defines the criteria by which the internal audit activity's performance will be evaluated

B.The internal audit charter authorizes the internal audit activity's reporting structure and clearly defines the roles of each internal auditor.

C.The internal audit charter authorizes access to records, personnel, and physical properties relevant to the performance of audit engagements.

D.The internal audit charter defines the roles and responsibilities of the chief audit executive, board of directors, and senior management.

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Question 121

Question 122

Question 123

Question 124

Question 125

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