Free Access IIA.IIA-CIA-Part2.v2023-03-09.q121 Practice Test (Page 18)

Question 81

Which of the following statements describes an engagement planning best practice?

A.It is best to determine planning activities on a case-by-case basis because they can vary widely from engagement to engagement.

B.Engagement planning activities include setting engagement objectives that align with audit client's business objectives.

C.If the engagement subject matter is not unique, it is not necessary to outline specific testing procedures during the planning phase.

D.The engagement plan includes the expected distribution of the audit results, which should be kept confidential until the audit report is final.

Question 82

The chief risk officer (CRO) of a large manufacturing organization decided to facilitate a workshop for process managers and staff to identify opportunities for improving productivity and reducing defects. Which of the following is the most likely reason the CRO chose the workshop approach?

A.Responses can be confidential, thus encouraging participants to be candid expressing their concerns.

B.It minimizes the amount of time spent and cost incurred to gather the necessary information.

C.Workshop participants have an opportunity to learn while contributing ideas toward the objectives.

D.Workshops do not require extensive facilitation skills and are therefore ideal for nonauditors.

Question 83

Which of the following would most Holy reflect the best possible engagement objectives?

A.Engagement objectives derived from risk assessment results from a company's risk function experts.

B.Engagement objectives derived from the mental audit activity's own risk assessment results

C.Engagement objectives derived from senior management's risk assessment results

D.Engagement objectives derived from risk assessment results from both senior management and the company's risk function experts

Question 84

According to IIA guidance, which of the following is least likely to be a key financial control in an organization's accounts payable process?

A.Require the approval of additions and changes to the vendor master listing, where the inherent risk of false vendors is high.

B.Monitor customer quality complaints compared to the prior period to identify vendor issues.

C.Compare employee addresses to vendor addresses to identify potential employee fraud.

D.Monitor amounts paid each period and compare them to the budget to identify potential issues.

Question 85

According to HA guidance, the chief audit executive is directly responsible for which of the following?

A.Providing opportunities for all staff auditors to satisfy their professional development requirements

B.Periodically reviewing and approving the internal audit charier

C.Maintaining a quality assurance program even in the absence of management support

D.Establishing the objectives scope and plan for each engagement

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