Free Access IIA.IIA-CIA-Part2.v2022-07-26.q511 Practice Test (Page 61)

Question 296

An internal audit activity is participating in the due diligence work for an acquisition that a company is considering. One engagement objective is to determine if the acquisition's accounts payable contain all outstanding liabilities. Which of the following audit procedures would not be relevant for this objective?

A.Examine supporting documentation of subsequent (after-period) cash disbursements and verify period of liability.

B.Send confirmations, including zero-balance accounts, to vendors with whom the company normally does business.

C.Trace receiving reports issued before the period end to the related vendor invoices and accounts payable list.

D.Select a sample of accounts payable from the accounts payable list and verify the supporting receiving reports, purchase orders, and invoices.

Question 297

Which of the following conditions is the strongest indicator of possible fraud?

A.A manager who is often over budget at the end of a reporting period.

B.A condition of excess manufacturing waste material.

C.An assistant treasurer who refuses to take vacations.

D.Independent reconciliations of subsidiary to general ledgers that are not always completed on a timely basis.

Question 298

The chief audit executive (CAE) of an organization has established an internal audit activity (IAA) quality assessment program. According to IIA guidance, which of the following would be part of this program?

A.Compliance with a checklist of required audit procedures, and identified areas of improvement reviewed at the end of the year.

B.Compliance with a checklist of required audit procedures, and review of individual audits to determine the quality and timeliness of supervision.

C.Assessment of the IAA conducted independently of client feedback, and identified areas of improvement reviewed at the end of the year.

D.Assessment of the IAA conducted independently of client feedback, and the review of individual audits to determine the quality and timeliness of supervision.

Question 299

Which of the following would provide the best evidence of compliance with an airline's standard of having aircraft refueled and cleaned within a specified time of arrival at an airport?

A.Vendor fuel invoices that have been reconciled to inventory records.

B.Time cards completed by aircraft cleaning and fueling crews.

C.Observation of selected aircraft while they are being refueled and cleaned.

D.Comparison of the standard hourly labor costs for cleaning and fueling personnel with actual labor charges.

Question 300

Which of the following situations is most critical for the chief audit executive to report to the board?

A.The chief audit executive disagreed with the business unit manager's initial decision to accept a particular risk Management ultimately agreed to address the risk only after discussing the issue with senior management.

B.The internal audit activity was restructured, which resulted in a significant change in responsibilities among audit managers and supervisors for some audits

C.A staff internal auditor had difficulties completing a portion of the audit because management of the area under review was unwilling to cooperate and provide information timely.

D.The resignation of an internal audit manager during the year caused the chief audit executive to defer a number of audit engagements to the following year.

Other Version: 1729IIA.IIA-CIA-Part2.v2024-12-09.q342; 7773IIA.IIA-CIA-Part2.v2023-05-26.q379; 7871IIA.IIA-CIA-Part2.v2023-04-08.q383; 3171IIA.IIA-CIA-Part2.v2023-03-09.q121; 13486IIA.IIA-CIA-Part2.v2022-09-28.q589; 9271IIA.IIA-CIA-Part2.v2022-01-22.q283; 108IIA.Prepawaypdf.IIA-CIA-Part2.v2021-10-22.by.nat.555q.pdf

Latest Upload: 106OCEG.GRCP.v2025-09-11.q211; 106HP.HPE0-V27.v2025-09-11.q78; 122Oracle.1Z0-1057-23.v2025-09-10.q47; 157Google.Professional-Cloud-Network-Engineer.v2025-09-09.q179; 136SAP.C-S4EWM-2023.v2025-09-08.q83; 172TheSecOpsGroup.CNSP.v2025-09-08.q20; 239CFAInstitute.ESG-Investing.v2025-09-08.q173; 225PECB.ISO-IEC-27001-Lead-Implementer.v2025-09-06.q132; 157Salesforce.Data-Architect.v2025-09-05.q216; 152Adobe.AD0-E605.v2025-09-05.q50

Question 296

Question 297

Question 298

Question 299

Question 300

Download PDF File