Free Access IIA.IIA-CIA-Part2.v2023-03-09.q121 Practice Test (Page 17)

Question 76

Which of the following is true regarding the monitoring of internal audit activities?

A.The board of directors is responsible for the establishment of monitoring polities

B.The chief audit executive must develop all monitoring policies related to the activity

C.Both large and small audit departments must have written policies on monitoring.

D.The form and content of monitoring policies could vary by industry

Question 77

According to IIA guidance, which of the following is true regarding the exit conference for an internal audit engagement?

A.Both the chief audit executive and the chief executive over the activity or function reviewed must attend the exit conference to validate the findings.

B.The exit conference provides only anticipated results for inclusion in the final audit communication.

C.During the exit conference, the performance of the internal auditors who executed the engagement is reviewed.

D.A primary purpose of the exit conference is to provide for the timely communication of observations that call for immediate management action.

Question 78

White planning an audit engagement of a procurement card activity. which of the following actions should an internal auditor take to denary relevant risks and controls?

A.Compare card transaction types against procurement card policy guidelines.

B.Determine how many cardholders exceeded their daily limit.

C.Develop the scope and objectives of the engagement

D.Meet with the procurement card program administrator

Question 79

An engagement supervisor reviewed a staff internal auditor's documentation and noted that several edits should be made. The internal audit activity uses an electronic workpaper database and does not maintain paper files for its system of record. A system error prevents the engagement supervisor from adding her electronic signature to any workpaper in the database Given this situation which is the most appropriate response to provide evidence of supervisory review?

A.The engagement supervisor should instruct the staff internal auditor to add a note in the workpaper on his behalf indicating that the workpaper was reviewed and feedback was provided

B.The engagement supervisor should ask another manager-level internal auditor not associated with the project to sign the workpaper on his behalf

C.Because the engagement supervisor called the help desk to correct the IT problem, he should upload the support-request ticket from the help desk to serve as evidence of the review

D.The engagement supervisor should print sign and date each workpaper after the review is complete and scan the document into the database as evidence of review

Question 80

While performing fieldwork for an assurance engagement, a member of the internal audit team identified a key control that was not identified during the planning phase of the engagement Which of the following actions by the internal auditor would be most appropriate?

A.Adjust the audit work program to account for the new control, but only with approval from the engagement supervisor

B.Discuss the control with management of the area under review and seek their approval prior to including the control in the current audit engagement

C.Proceed with the current audit work program because the engagement scope has already been finalized but plan to address the newly identified control as part of the follow up engagement

D.Promptly adjust the audit work program to include tests that address the newly identified control and notify the other audit team members of the change

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Question 76

Question 77

Question 78

Question 79

Question 80

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