Free Access IIA.IIA-CIA-Part1.v2026-07-28.q398 Practice Test (Page 69)

Question 336

A manufacturing organization's chief audit executive (CAE) was approached by the head of security from one of the manufacturer's third party suppliers The head of security requested internal audit records from a recent audit engagement involving the third-party supplier The head of security believed those records contained information that would enable to identify employees of the third-party supplier who may be involved m fraudulent activities What is the most appropriate course of action for the CAE?

A.Obtain approval from the manufacturer's audit committee regarding the release of audit records

B.Release the records but first remove all data regarding the manufacturing organization s internal actions and procedures

C.Deny access to the records as the third party supplier s security learn should be able to investigate then own employees.

D.Consult with the manufacturer's senior management to determine whether releasing tie records would be appropriate

Question 337

An internal auditor pays to participate in the company's annual golf tournament, which is held outside of normal business hours. The auditor wins the putting contest and is awarded an all-expense-paid weekend vacation. According to the IIA Code of Ethics regarding objectivity, the auditor's best course of action would be to:

A.Refuse the prize because it represents an impairment to objectivity.

B.Accept the prize because the auditor received no special treatment.

C.Refuse the prize because the amount is significant.

D.Accept the prize because the event was held outside of normal business hours.

Question 338

According to IIA guidance, which of the following best describes the chief audit executive s responsibility for confirming to the board the organizational independence of the internal audit activity'?

A.The CAE must do this at least annually

B.The CAE must do this at least once every five years

C.The CAE must do this upon completion of each external quality assessment

D.The CAE should do this periodically in conjunction with a review of the internal audit charter

Question 339

Which of the following would be the least desirable criteria against which to judge current operations of a company's treasury function?

A.The operations of the treasury function as documented during the last audit engagement.

B.Company policies and procedures delegating authority and assigning responsibilities.

C.Finance textbook illustrations of generally accepted good treasury function practices.

D.Codification of best practices of the treasury function in relevant industries.

Question 340

Which of the following best describes the underlying premise of the COSO enterprise risk management framework?

A.Management should set objectives before assessing risk.

B.Every entity exists to provide value for its stakeholders.

C.Policies are established to ensure that risk responses are performed effectively.

D.Enterprise risk management can minimize the impact and likelihood of unanticipated events.

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Question 336

Question 337

Question 338

Question 339

Question 340

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