Free Access IIA.IIA-CIA-Part2.v2022-09-28.q589 Practice Test (Page 65)

Question 316

An internal auditor has been asked to participate in an advisory capacity to assist a committee in redesigning the organization's current financial reports to provide better information to management and the board. Which of the following actions on the part of the auditor would provide the greatest value to this project?

A.The internal auditor has a set of generic report templates from a former project and presents them to the group because they worked so well for the previous employer.

B.The internal auditor interviews each stakeholder and documents the requirements and preferences of each and creates a report template that meets as many of the requirements and preferences as possible.

C.The internal auditor gathers the stakeholder group and holds a brainstorming session where they generate report requirements and preferences and then rank them in order of importance.

D.The internal auditor undertakes a project to gather report templates and formats from other organizations in the same line of business and presents them all to the group for review.

Question 317

An internal auditor compared the number of human resources professionals per employee with industry standards. This comparison would assist the auditor in evaluating which of the following areas?

A.Sufficiency of controls over payroll rate increases.

B.Current level of performance of the human resources department.

C.Adequacy of controls over hiring new employees.

D.Degree of compliance with human resources policies.

Question 318

Which of the following should management action plans include at a minimum?

A.Detailed procedures for the action plan

B.An owner of the action plan

C.An implementer for the action plan

D.The internal auditor's next review date of the action plan

Question 319

After becoming aware of control weaknesses indicating that a fraud could have been committed, which of the following actions should an internal auditor take next?

A.Issue a written report identifying the control weaknesses.

B.Recommend that a fraud investigation be conducted involving internal auditors, lawyers, investigators, security personnel, and other specialists, as appropriate.

C.Perform tests directed toward the identification of other fraud indicators.

D.Notify external auditors of the suspicion that fraud has been committed.

Question 320

The internal audit activity has adopted the balanced scorecard approach to assess its performance According to MA guidance which of the following is a key performance indicator relevant to the audit client?

A.Percentage of recommendations implemented by corrective action date

B.Percentage of planned audits completed

C.Conformance with the International Professional Practices Framework

D.Staff experience

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Question 316

Question 317

Question 318

Question 319

Question 320

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