[Q287-Q309] Try 100% Updated IIA-CIA-Part2 Exam Questions [2022]

NEW QUESTION 287
According to IIA guidance, which of the following strategies would be the least effective in helping a chief audit executive build a stronger relationship with the board?

NEW QUESTION 288
In which of the following cases is it appropriate for an audit report to not contain management’s response either within the report or as an attachment?

NEW QUESTION 289
An auditor receives anonymous information that fraud is occurring in the operation being audited, but no details are given as to the type of fraud or the individuals involved. There are several areas in which fraud could occur.
The auditor should:

NEW QUESTION 290
After issuance of the engagement final communication for an audit of an organization’s accounts payable function, which of the following should be sent satisfaction surveys?
I. Manager of disbursements.
II. Controller.
III. Chief operating officer.
IV. Audit committee members.

NEW QUESTION 291
After concluding a preliminary assessment, the engagement supervisor prepared a draft work program According to HA guidance which of the following would be tested by this program?

NEW QUESTION 292
An audit of customer accounts receivable found that outstanding receivables as a percentage of revenue had increased significantly during the past two years. The increase was attributed to the extension of credit, at the urging of the marketing department, to a number of companies that were not credit worthy. Which of the following would be least useful in monitoring the disposition of this finding?

NEW QUESTION 293
Which of the following is typically not a reason for committing financial statement fraud?

NEW QUESTION 294
An organization’s policies allow buyers to authorize expenditures up to $50,000 without any other approval. Which of the following audit procedures would be most effective in determining if fraud in the form of payments to fictitious companies has occurred?

NEW QUESTION 295
Which of the following best illustrates the primary focus of a risk-based approach to control self- assessment?

NEW QUESTION 296
Which of the following is not a primary reason for outsourcing a portion of the internal audit activity?

NEW QUESTION 297
During an audit of an ethics program, which of the following procedures are most appropriate to evaluate the effectiveness of the program?
– Testing whether corrective actions taken on involved parties breaching the ethics program are adequate. – Testing whether all employees are mandated through policy to comply with the ethics program. – Testing whether all employees are required to confirm in writing their compliance with the ethics program. – Testing through surveys employee’s level of understanding and commitment to the ethics program.

NEW QUESTION 298
Which of the following is true of engagement recommendations?
I. Specific suggestions for implementation must be included.
II. The internal auditor’s observations and conclusions may serve as the basis.
III. Actions to correct existing conditions or improve operations may be included.
IV. Approaches to correcting or enhancing performance may be suggested.

NEW QUESTION 299
According to the International Professional Practices Framework, which of the following situations is an indicator of a healthy relationship between the audit committee and the internal audit function?

NEW QUESTION 300
Which of the following events would most likely cause the chief audit executive to consider changing the current year’s audit plan?
1. The government announced that new regulatory requirements will be introduced in the coming years which may significantly impact the organization’s primary product.
2. A major competitor unexpectedly introduced a new model at a lower price point to compete with the organization’s market leading product.
3. The organization announced a new joint venture with a long time corporate partner to introduce a new product with development costs and sales beginning next fiscal year.
4. An equal joint venture partner filed a lawsuit against the organization and requested that the court issue an immediate suspension of future product shipments.

NEW QUESTION 301
In performance auditing, which of the following must first be determined by the internal auditor?

NEW QUESTION 302
Management requested the chief audit executive (CAE) to include an audit of the organization’s health and safety program in next year’s annual audit plan. However, the internal audit department has no expertise in this area. Which of the following would be the most appropriate action by the CAE?

NEW QUESTION 303
In addition to the internal auditor, which of the following parties should be present at an exit or closing conference?
1. Audit committee members.
2. The external auditor.
3. The management responsible for the areas covered by the engagement.
4. The chief executive officer.

NEW QUESTION 304
Which of the following would not be characteristic of control self-assessment implemented by an audit department?

NEW QUESTION 305
As part of a preliminary survey of the purchasing function, an internal auditor reads the department’s policies and procedures manual and concludes that the manual describes the processing steps clearly and contains an appropriate internal control design. The next engagement objective is to evaluate the operating effectiveness of internal controls. Which procedure would fulfill this objective most effectively?

NEW QUESTION 306
During an engagement the internal auditors reported that the organization was paying suppliers without receiving the merchandise. Management responded that it would immediately establish the use of receiving reports. As part of the follow-up activity, which of the following procedures would be the most appropriate in determining that management action was implemented?

NEW QUESTION 307
After finalizing an assurance engagement concerning safety operations in the oil mining process, the audit team concluded that no key controls were compromised. However, some opportunities for improvement were noted. Which of the following would be the most appropriate way for the chief audit executive (CAE) to report these results?

NEW QUESTION 308
When interrogating an individual who is suspected of fraud, it is appropriate to:

NEW QUESTION 309
According to IIA guidance, which of the following accurately describes the responsibilities of the chief audit executive with respect to the final audit report?
1. Coordinate post-engagement conferences to discuss the final audit report with management.
2. Include management’s responses in the final audit report.
3. Review and approve the final audit report.
4. Determine who will receive the final audit report.