Free Access IIA.IIA-CIA-Part2.v2022-07-26.q511 Practice Test (Page 53)

Question 256

During an audit of a major metropolitan museum, an auditor was unable to locate selected items from the museum's collection. The director of the museum informed the auditor that the upcoming replacement of the museum's inventory tracking system would address the auditor's concerns. What follow-up activity should the auditor propose?

A.Receive periodic feedback from museum staff regarding the status of the system implementation.

B.Monitor the system implementation and schedule a follow-up review once the new system is in place.

C.Determine whether the items are indeed missing and assess the ability of the new system to remedy the problem.

D.Schedule an audit of the museum's security systems to determine if theft is a problem.

Question 257

Which of the following statements about including consulting engagements in the annual internal audit plan is true?

A.The acceptance of proposed consulting engagements into the annual internal audit plan may depend on their ability to add value

B.Consulting engagements do not need to be included m the annual internal audit plan unless requested by the board

C.Assurance engagements must be included in the annual internal audit plan but there is no requirement to include consulting engagements

D.All requests for consulting engagements must be included in the annual internal audit plan

Question 258

Which of the following is not true regarding the management of internal audit resources?

A.Resources include external service providers and computer-assisted audit techniques.

B.Skills availability must be aligned with financial constraints.

C.A minimum level of information technology knowledge is necessary.

D.The adequacy of internal audit resources is ultimately a board responsibility.

Question 259

Given the scarcity of internal audit resources, a chief audit executive (CAE) decided not to schedule a follow-up of audit recommendations when developing engagement work schedules. Does the CAE's decision violate the Standards?

A.Yes, because the Standards require the auditors to determine whether the client has appropriately implemented all of the auditor's recommendations.

B.Yes, because scarcity of resources is not a sufficient reason to omit follow-up action.

C.No, because the Standards do not specify whether follow-up is needed.

D.No, because when there is evidence of sufficient motivation by the client, there is no need for follow-up action.

Question 260

The chief risk officer (CRO) of a large manufacturing organization decided to facilitate a workshop for process managers and staff to identify opportunities for improving productivity and reducing defects. Which of the following is the most likely reason the CRO chose the workshop approach?

A.Workshop participants have an opportunity to learn while contributing ideas toward the objectives.

B.It minimizes the amount of time spent and cost incurred to gather the necessary information.

C.Responses can be confidential, thus encouraging participants to be candid expressing their concerns.

D.Workshops do not require extensive facilitation skills and are therefore ideal for nonauditors.

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Question 256

Question 257

Question 258

Question 259

Question 260

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