Free Access IIA.IIA-CIA-Part2.v2022-09-28.q589 Practice Test (Page 81)

Question 396

Which of the following is a red flag associated with fictitious revenues?

A.Slow growth or unusually low profitability.

B.Unusual decrease in the number of days' sales in receivables.

C.Substantial increase in receivables turnover.

D.Significant transactions with related parties.

Question 397

Once an audit report is drafted, the auditor's supervisor should review it primarily to ensure that all:

A.Recommendations for corrective action are clear.

B.Sample sizes appear appropriate for any issues found.

C.Statements are supported and can be authenticated.

D.Processes within the audited area were reviewed.

Question 398

Which of the following would be the most effective method to prevent installation of new equipment that does not meet environmental permit requirements, or to prevent modification of current processes in such a way that they no longer meet permit requirements?

A.Rely on annual inspections by various regulatory agencies to identify equipment or processes that require a permit.

B.Include the environmental compliance department in the review of proposed process changes and equipment purchases affecting permit requirements.

C.Require that the environmental compliance department perform regular inspections of the manufacturing facility to identify new equipment or process modifications in progress.

D.Require that the staff of the environmental compliance department attend monthly safety meetings in different parts of the facility so that they can hear directly from the workers about any changes.

Question 399

Which of the following would most likely include recommendations for process improvements?
* Due diligence engagement.
* Forensic investigation.
* Internal audit engagement.
* Consulting engagement.

A.2, 3, and 4 only

B.1, 3, and 4 only

C.1, 2, and 4 only

D.1, 2, and 3 only

Question 400

An internal auditor is asked to review a recently completed renovation to a retail outlet. Which of the following would provide the most reliable evidence that the completed work conformed to the plan?

A.An interview with the employee who performed the work

B.A physical inspection of the retail outlet.

C.An analysis of purchasing and receiving documentation

D.Existence of a signed completion document accepting the work

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Question 396

Question 397

Question 398

Question 399

Question 400

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