Free Access IIA.IIA-CIA-Part2.v2026-06-24.q355 Practice Test (Page 60)

Question 291

The efficiency of internal audit operations is best enhanced if workpaper standards:

A.Permit the extent of documentation to vary according to engagement objectives.

B.Require supervisors to initial and date each workpaper that they review.

C.Allow access to workpapers by external parties if approved by senior management or the audit committee.

D.Mandate the workpaper retention period.

Question 292

According to IIA guidance which of the following statements is true regarding heat maps?

A.A heat map sets likelihood to have higher priority than impact.

B.A heat map sets impact to have higher priority than likelihood.

C.A heat map recognizes that the priority of impact and likelihood can vary.

D.A heat map recognizes impact and likelihood as equally important

Question 293

A retail company uses a computer program that matches electronic vendor invoices with the applicable purchase orders and receiving information, which are also maintained electronically.
If an invoice does not match the other items within predefined ranges, a report is generated and sent to the accounts payable department for further investigation. All of the applicable documents are electronically marked, cross-referenced, and retained in open files. Both an integrated test facility and a systems control audit review file (SCARF) have been included in the system.
An auditor wants to determine the extent to which items are not matched at year end and to investigate the potential causes of the unmatched items. Which of the following audit procedures would be most effective in determining the items to investigate?

A.Use generalized audit software to read the electronically marked unmatched items.

B.Use generalized audit software to read the purchase orders and trace to applicable receiving and vendor invoice files.

C.Use the SCARF to identify unusual items. Select an attributes sample and trace to the underlying documentation.

D.Submit test data to identify attributes of unmatched items. Follow up by investigating the identified attributes.

Question 294

The chief executive officer has requested that the chief audit executive (CAE) coordinate the establishment of an enterprise risk management (ERM) program for the organization. Which of the following would be the most appropriate action for the CAE?

A.Decline the request as this role compromises the CAE's objectivity.

B.Accept the request as the role of coordinating ERM is a core function of internal audit.

C.Accept the request after consulting with the board and adhering to proper safeguards.

D.Decline the request as internal audit has limited knowledge and experience of risk at the enterprise level to undertake the assignment.

Question 295

Which of the following represents the best example of a strategic goal?

A.Customer satisfaction index has to be 90% each quarter.

B.Ten rapid charging stations will be installed next year.

C.The organization aims to decrease the budget by 10%.

D.The organization will be carbon neutral within 5 years.

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Question 291

Question 292

Question 293

Question 294

Question 295

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