Free Access IIA.IIA-CIA-Part1.v2023-03-29.q231 Practice Test (Page 5)

Question 16

According to IIA guidance, which of the following statements is true regarding due professional care?

A.Internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor

B.Due professional care requires the internal auditor to conduct extensive examinations and verifications to ensure fraud does not exist,

C.Due professional care is displayed during a consulting engagement when the internal auditor focuses on potential benefits of the engagement rather than the cost.

D.Internal auditors must exercise due professional care to Insure that all significant risks will be identified,

Question 17

Which of the following best demonstrates the board of directors' governance over internal control?

A.The majority of board members are experienced and qualified members of the organization's executive management team.

B.The board may be assisted by an audit committee, chaired by the chief audit executive.

C.The board bears direct responsibility for developing and implementing the internal control system.

D.The board is responsible for succession planning for the CEO and other key members of the executive management team.

Question 18

Guidelines need to be set for various levels of suspected fraud within an organization and when it would be reported to the audit committee. Which of the following would be reported at the next meeting?

A.Theft using collusion for more than $10,000. but not involving senior management.

B.Minor theft of less than $10,000, not involving senior management.

C.Discussion of replacement of the chief audit executive.

D.Denial of access to requested employees during an audit.

Question 19

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

A.Theft of cash after it is recorded in the books

B.Theft of assets through false mileage travel logs and meal charges

C.Theft of cash before it is recorded in the books

D.Theft of assets through fictitious or inflated invoices

Question 20

According to MA guidance, which of the following is an appropriate role for the internal audit activity?

A.Implementing risk responses on management's behalf.

B.Coaching management in responding to risks.

C.Imposing risk management processes.

D.Setting the risk appetite.

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