Free Access IIA.IIA-CIA-Part1.v2026-07-28.q398 Practice Test (Page 61)

Question 296

Which of the following is not an appropriate control related to sales in a manufacturing company?

A.Goods shipped are matched with valid customer orders.

B.Customers' orders are recorded promptly.

C.Credit department approval is required for credit sales transactions.

D.Goods returned are inspected for damage by the sales department and then entered into inventory.

Question 297

Which of the following processes does the board manage to ensure adequate governance?

A.Establish and measure performance objectives for the internal audit activity.

B.Select board members with necessary knowledge and skills.

C.Develop, approve, and execute the strategic plan of the organization.

D.Develop strategies to mitigate the risks to achieving the organization's objectives

Question 298

According to IIA guidance, which of the following best describes processes and tools typically used in ongoing internal assessments?

A.Benchmarking of the internal audit activity's practices and performance.

B.Analysis of performance metrics such as cycle times.

C.Self-assessments and surveys of stakeholder groups.

D.Report of internal assessment results, response plans, and outcomes.

Question 299

During the closing meeting of a procurement audit, the business manager disagrees with the observation presented by the engagement supervisor and accuses the team of not understanding the procurement objectives The engagement supervisor blames the manager for impeding the audit What skillset should the chief audit executive utilize to manage this situation?

A.The ability to foresee issues

B.The ability to use analytical tools

C.The ability to manage conflict

D.The ability to negotiate

Question 300

In publicly held companies, management often requires the internal audit activity's involvement with quarterly financial statements that are made public and used internally.
Which of the following is generally not a reason for such involvement?

A.Management may perceive that having quarterly financial information examined by the internal auditors enhances its value for internal decision making.

B.The Standards state that internal auditors should be involved with reviewing quarterly financial statements.

C.Management may be concerned about potential penalties that could occur if quarterly financial statements are misstated.

D.Management may be concerned about its reputation in the financial markets.

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Question 296

Question 297

Question 298

Question 299

Question 300

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