Pass the IIA CIA Challenge Exam IIA-ACCA Questions and answers with ExamsMirror

An internal auditor and engagement client are deadlocked over the auditor's differing opinion with management on the adequacy of access controls for a major system. Which of the following strategies would be the most helpful in resolving this dispute?

A chief audit executive is preparing interview questions for the upcoming recruitment of a senior internal auditor. According to IIA guidance, which of the following attributes shows a candidate's ability to probe further when reviewing incidents that have the appearance of misbehavior?

When developing the scope of an audit engagement, which of the following would the internal auditor typically not need to consider?

During an assurance engagement, an internal auditor noted that the time staff spent accessing customer information in large Excel spreadsheets could be reduced significantly through the use of macros. The auditor would like to train staff on how to use the macros. Which of the following is the most appropriate course of action for the internal auditor to take?

A code of business conduct should include which of the following to increase its deterrent effect?

1. Appropriate descriptions of penalties for misconduct.

2. A notification that code of conduct violations may lead to criminal prosecution.

3. A description of violations that injure the interests of the employer.

4. A list of employees covered by the code of conduct.

An internal control questionnaire would be most appropriate in which of the following situations?

The chief audit executive of a medium-sized financial institution is evaluating the staffing model of the internal audit activity (IAA). According to IIA guidance, which of the following are the most appropriate strategies to maximize the value of the current IAA resources?

• The annual audit plan should include audits that are consistent with the skills of the IAA.

• Audits of high-risk areas of the organization should be conducted by internal audit staff.

• External resources may be hired to provide subject-matter expertise but should be supervised.

• Auditors should develop their skills by being assigned to complex audits for learning opportunities.

Which of the following components should be included in an audit finding?

1. The scope of the audit.

2. The standard(s) used by the auditor to make the evaluation.

3. The engagement's objectives.

4. The factual evidence that the internal auditor found in the course of the examination.

According to IIA guidance, which of the following are the most important objectives for helping to ensure the appropriate completion of an engagement?

1. Coordinate audit team members to ensure the efficient execution of all engagement procedures.

2. Confirm engagement workpapers properly support the observations, recommendations, and conclusions.

3. Provide structured learning opportunities for engagement auditors when possible.

4. Ensure engagement objectives are reviewed for satisfactory achievement and are documented properly.

Which of the following statements is false regarding audit criteria?

An internal auditor is conducting an assessment of the purchasing department. She has worked the full amount of hours budgeted for the engagement; however, the audit objectives are not yet complete. According to IIA guidance, which of the following are appropriate options available to the chief audit executive?

1. Allow the auditor to decide whether to extend the audit engagement.

2. Determine whether the work already completed is sufficient to conclude the engagement.

3. Provide the auditor feedback on areas of improvement for future engagements.

4. Provide the auditor with instructions and directions to complete the audit.

Which of the following would not be a typical activity for the chief audit executive to perform following an audit engagement?

It is close to the fiscal year end for a government agency, and the chief audit executive (CAE) has the following items to submit to either the board or the chief executive officer (CEO) for approval. According to IIA guidance, which of the following items should be submitted only to the CEO?

When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive?

• During an audit of the hiring process in a law firm, it was discovered that potential employees' credentials were not always confirmed sufficiently. This process remained unchanged at the following audit.

• During an audit of the accounts payable department, auditors calculated that two percent of accounts were paid past due. This condition persisted at a follow up audit.

• During an audit of the vehicle fleet of a rental agency, it was determined that at any given time, eight percent of the vehicles were not operational. During the next audit, this figure had increased.

• During an audit of the cash handling process in a casino, internal audit discovered control deficiencies in the transfer process between the slot machines and the cash counting area. It was corrected immediately.

Which of the followings statements describes a best practice regarding assurance engagement communication activities?