Qualified Internal Auditor (QIA) Practice Test

Questions # 21:

In planning a system of internal operating controls, the role of the internal auditor is to

Options:

Design the controls.

Appraise the effectiveness of the controls.

Establish the policies for controls.

Create the procedures for the planning process.

Questions # 22:

An auditor selected a random sample of 100 items from a population of 2,000 items. The total dollars in the sample were $10,000, and the standard deviation was $10. If the achieved precision based on this sample was plus or minus $4,000, the minimum acceptable value of the population would be

Options:

$204,000

$196,000

$199,000

$199,800

Questions # 23:

Which of the following tests can help the auditor to evaluate the adequacy of the company's allowance for doubtful accounts?

Options:

Reconciling the accounts receivable subsidiary ledgers with the control account.

Preparing an aging analysis.

Reviewingauthorizationof credit terms.

Tracing a sample of credit memos to the accounts receivable subsidiary ledger.

Questions # 24:

When making a presentation to management, the auditor wants to report findings and to stimulate action.

These objectives are best accomplished by

Options:

Delivering a lecture on the findings.

Showing a series of slides or overheads that graphically depict the findings; limit verbal commentary.

Using slides/overheads to support a discussion of major points.

Handing out copies of the report, asking the participants to read the report, and asking for questions.

Viewing page 3 out of 3 pages

Viewing questions 21-30 out of questions

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