Free Access IIA.IIA-CIA-Part2.v2022-07-26.q511 Practice Test (Page 60)

Question 291

Which of the following methods would an auditor most likely use to document a complex sales order process?

A.Perform a process review, assigning time and cost to each step of the process to develop a hierarchy flowchart.

B.Create a critical path method chart, noting the processes involved for each step.

C.Utilize a systems narrative, which can be updated during subsequent audits.

D.Develop a horizontal flowchart, with supporting documentation for key control points.

Question 292

Which of the following procedures would be most helpful in providing additional evidence when an auditor suspects that an unidentified employee is submitting and approving invoices for payment?

A.Select a sample of receiving reports representative of the period under investigation and trace to approved payment. Note any items not properly processed.

B.Select a sample of payments made during the year and investigate each one for approval.

C.Select a sample of invoices paid during the past month and trace them to appropriate vendor accounts.

D.Use generalized audit software to identify invoices from vendors with post office box numbers or other unusual features. Select a sample of those invoices and trace to supporting documents such as receiving reports.

Question 293

When approving the final engagement report, which of the following is most critical?

A.Opinions are adequately supported.

B.Conclusions are reached for all objectives.

C.Report is distributed to appropriate parties.

D.Report is clear and concise.

Question 294

New credit policies have been implemented in an automated order-entry system to improve the collection of receivables. Sales management has compiled several examples that show decreased sales and delayed order entry, and contends that these examples are a direct result of the new credit-policy constraints. Sales management's data and information provide.

A.Feedback control data.

B.Irrelevant and argumentative information.

C.Evidence that the new credit policies do not meet the stated corporate objective to improve collections.

D.A statistically valid conclusion about the impact of the new credit policies on customer goodwill.

Question 295

Which of the following potential performance measures should an auditor recommend excluding from a performance scorecard?

A.Number of employees.

B.Training dollars per employee.

C.Market share.

D.Number of customer complaints.

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Question 291

Question 292

Question 293

Question 294

Question 295

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