Free Access IIA.IIA-CIA-Part2.v2023-05-26.q379 Practice Test (Page 23)

Question 106

The chief audit executive (CAE) is adding a new audit position to the team. According to the International Professional Practices Framework, which of the following candidates would the CAE be least likely to accept for the position?

A.The candidate provides examples of previous reports demonstrating excellent writing skills, but lacks ability to clearly communicate ideas and conclusions in a meeting.

B.The candidate is applying for an IT audit position, while originally coming from an IT background, but has only experiences of financial and compliance audits in the previous position.

C.The candidate meets the minimum educational requirements established by the chief audit executive, but has less formal education than any of the other candidates being considered.

D.The candidate is knowledgeable about potential indicators of fraud including typical risks, but has only participated as a staff auditor in one investigative fraud audit.

Question 107

After completing a net present value (NPV) calculation on a proposed project, an analyst explores the change in NPV with changes in the interest rate. This additional analysis is referred to as:

A.simulation.

B.Variance analysis.

C.Sensitivity analysis.

D.Decision analysis.

Question 108

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.An analysis of purchasing and receiving documentation

C.A physical inspection of the retail outlet.

D.Existence of a signed completion document accepting the work

Question 109

An internal auditor notices that a division has recorded uncharacteristically high sales and gross margins for the past three months and now suspects the division is reporting fictitious sales. Which course of action should the auditor follow to determine whether fraud has occurred?

A.Send accounts receivable balance confirmations to customers.

B.Compare the division's sales and gross margins to those of the prior three-month period.

C.Estimate the sales and cost of goods sold for the three-month period by using regression analysis.

D.Trace a sample of shipping documents to related sales invoices to verify proper billing.

Question 110

Which of the following statements accurately describes the Standards requirement for ret internal audit records?

A.Retention requirements should take into account the medium in which internal audit records are stored

B.Retention requirements should set a minimum period of the for records storage and the process of archiving documents

C.Retention requirements for internal audit records should be compliant with ones set for external audit records

D.Retention requirements should be set by the chief audit executive and aligned will the organization s process and procedures

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Question 106

Question 107

Question 108

Question 109

Question 110

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