Free Access IIA.IIA-CIA-Part2.v2022-07-26.q511 Practice Test (Page 100)

Question 491

Which of the following data sources would provide the least valid data for an audit of a retail store's customer service?

A.Interviews of randomly selected service personnel regarding the quality of service that they provide.

B.A graph that compares staffing levels for selected times with store traffic (number of customers) over the same time period.

C.A random survey of customer satisfaction given to customers as they leave the store.

D.A graph of customer service training across stores, comparing training with overall levels of service satisfaction.

Question 492

In forming a team to investigate an organization's potential adoption of an activity-based costing system, the best reason to include an internal auditor on the team would be the auditor's knowledge of:

A.Internal control alternatives.

B.Current product cost structures.

C.Information processing procedures.

D.Activities and cost drivers.

Question 493

A company used simple regression analysis to analyze maintenance costs against machine hours (MH) for a 26-week period when the plant was in full operation. The regression yielded the following estimated cost function:
Maintenance Cost = $60 + $0.25/MH
The regression analysis also generated a coefficient of determination (R2), or goodness of fit, of 0.85. Which of the following statements regarding this regression analysis is appropriate?

A.The $60 component represents the best estimate of fixed maintenance costs for the company in a shutdown situation.

B.The $0.25 component is the slope coefficient of the cost estimate and represents the average variable maintenance cost per machine hour.

C.This regression can be used to determine the maintenance cost for any period at any activity level by substituting the machine hours in the equation.

D.The coefficient of determination of R2 = 0.85 indicates that the goodness of fit is poor because the value is close to the maximum value of one.

Question 494

Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?

A.A review of password policy compliance found that employees frequently use the same password more than once during a year. The IAA recommends that the access control software reject any password used more than once during a 12-month period.

B.A review of internal service-level agreement compliance in financial services found that requests for information frequently are fulfilled up to two weeks late. The IAA recommends that the financial services unit be eliminated for its ineffectiveness.

C.A vacation policy compliance review found that employees frequently leave on vacation before their leave applications are signed by their manager. The IAA recommends that the manager attend to the leave applications in a more timely fashion.

D.A review of customer service-level agreements found that orders to several customers are frequently delivered late. The IAA recommends that the organization extend the expected delivery time advertised on its website.

Question 495

Which of the following factors would not be considered in determining appropriate follow-up procedures?

A.The significance of the audit finding.

B.The availability of funds in the audited department's budget to correct the reported condition.

C.The potential consequences if the corrective action fails.

D.The effort and cost needed to correct the reported condition.

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Question 491

Question 492

Question 493

Question 494

Question 495

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