We provide real IIA-CIA-Part1 exam questions and answers braindumps in two formats. Download PDF & Practice Tests. Pass IIA IIA-CIA-Part1 Exam quickly & easily. The IIA-CIA-Part1 PDF type is available for reading and printing. You can print more and practice many times. With the help of our IIA IIA-CIA-Part1 dumps pdf and vce product and material, you can easily pass the IIA-CIA-Part1 exam.
Q106. During an audit of a major contract, an internal auditor finds that actual hours and dollars billed are consistently at or near budgeted amounts. This condition is a red flag for which of the following procurement fraud schemes?
A. Defective pricing.
B. Cost mischarging.
C. Fictitious vendor.
D. Bid rotation.
Answer: B
Q107. Which of the following would provide the best evidence of errors in the quantities of items received from suppliers?
A. Suppliers' reports of overshipments.
B. Warehouse receiving logs.
C. Purchase requisitions and purchase orders.
D. Observation and inspection of inventory.
Answer: B
Q108. Which of the following factors affects the control risk of a company?
A. Potential problems like technological obsolescence.
B. Unusual pressures on management.
C. Complex accounts that require expert valuations.
D. Segregation of duties.
Answer: D
Q109. Which statement most accurately describes how criteria are established for use by internal auditors in determining whether goals and objectives have been accomplished?
A. Management is responsible for establishing the criteria.
B. Internal auditors should use professional standards or government regulations to establish the criteria.
C. The industry in which a company operates establishes criteria for each member company through benchmarks and best practices for that industry.
D. Appropriate accounting or auditing standards,including international standards,should be used as the criteria.
Answer: A
Q110. Which of the following is most likely to be an element of an effective compliance program?
A. The internal audit activity is assigned responsibility for overseeing the program.
B. The program is communicated to employees in a video format on a one-time basis.
C. The organization uses monitoring systems designed to detect improper activity.
D. The organization obtains as much information as possible when performing background checks on employees. Answer: C
Q111. Which of the following would be the most effective action for an internal audit activity to take in order to assist in improving an organization's ethical climate?
I. Review formal and informal processes within the organization that could promote unethical behavior.
II. Conduct surveys of employees, suppliers, and customers regarding ethics.
III.
Assess the employees' knowledge of and compliance with the organization's code of conduct.
A.
Ionly
B.
I and IIonly
C.
II and IIIonly
D.
I,II,and III.
Answer: D
Q112. Company A has a formal comprehensive corporate code of ethics while company B does not. Which of the following statements regarding the existence of the code of ethics in company A can be logically inferred?
1. Company A exhibits a higher standard of ethical behavior than does company B. 2. Company Ahas established objective criteria by which an employee's actions can be evaluated.
3. The absence of a formal corporate code of ethics in company B would prevent a successful
audit of ethical behavior in that company.
A. 2only
B. 3only
C. 1 and 2only
D. 2 and 3only
Answer: A
Q113. Which of the following is not a benefit of using information technology in solving audit problems?
A. It helps reduce audit risk.
B. It improves the timeliness of the audit engagement.
C. It increases audit opportunities.
D. It improves the auditor's judgment.
Answer: D
Q114. Once the cause of a problem has been identified, the next step is to:
A. Select a solution.
B. Generate alternative solutions.
C. Identify the problem.
D. Consider the reaction of competitors to various courses of action.
Answer: B
Q115. According to the Standards, which of the following is not a responsibility of the audit committee?
A. Appointment and performance of the chief audit executive.
B. Reviewing internal audit staffing promotions and salary increases.
C. Review,assessment and approval of the annual audit plan.
D. Resolving any disagreements between management and internal audit.
Answer: B
Q116. A production division received 45 responses to a customer-service survey distributed to 100 purchasing departments randomly selected from all customers who made purchases in the prior 12 months. Which of the following is the most likely reason that the division manager would be concerned about nonresponse bias in this situation?
A. The sample means and standard errors are more difficult to compute.
B. Those who did not respond may be systematically different from those who did.
C. The sample size is too small.
D. Confidence intervals are narrower.
Answer: B
Q117. An internal auditor in a small broadcasting organization was assigned to review the revenue collection process. The auditor discovered that some checks from three customers were never recorded in the organization's financial records. Which of the following documents would be the least useful for the auditor to verify the finding?
A. Bank statements.
B. Customer confirmation letters.
C. Copies of sales invoices.
D. Copies of deposit slips.
Answer: D
Q118. A daily report which lists unsuccessful attempts to log on to a computer system is A.
A. Corrective control.
B. Preventive control.
C. Detective control.
D. Compensating control. Answer: C
Q119. To develop greater internal auditing expertise, the chief audit executive (CAE) has been assigning the same relatively inexperienced team of internal auditors to a series of engagements spanning several months. Is this practice consistent with the Standards?
A. Yes. The CAE is promoting the professional development of the staff.
B. Yes. The experience will quickly build specialized skills and competencies.
C. No. The team should collectively possess the competencies appropriate for the engagements.
D. No. Teams should be comprised of both experienced and inexperienced auditors.
Answer: C
Q120. While reviewing the workpapers of a new auditor, the auditor in charge discovered that additional audit procedures might be necessary. According to IIA guidance, which of the following would be most relevant for the auditor in charge to consider when making this decision?
A. Resource management.
B. Coordination.
C. Due professional care.
D. Engagement supervision.
Answer: C