Study with IIA-CIA-Part2 Actual Test Questions

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IIA IIA-CIA-Part2 Exam Overview:

IIA IIA-CIA-Part2 Exam Syllabus Topics:

IIA Internal Audit Engagement Sample Questions:

Question 1

Which of the following statements generally true regarding audit engagement planning?

A. Computer-assisted audit techniques are typically not useful during engagement planning
B. Audit objectives should be general and do not change.
C. The best source tor detailed process information is senior management
D. Internal auditors should prepare a dented audit program for testing controls

Question 2

A healthcare organization ' s chief audit executive (CAE) noted that the organization ' s IT team relies heavily on a vendor. Therefore an IT vendor assessment review was added to the annual audit plan. During the review, the audit team discovered that the vendor had not been performing proper monitoring to ensure that the subcontractors it hired comply with the organization requirements. The organization ' s chief information officer (ClO) does not agree with the audit team ' s recommendation for the IT team to monitor the compliance level of vendor subcontractors. How should the audit team proceed to resolve this situation?

A. Write a risk acceptance memo for the CIO to sign acknowledging the observation and indicating a willingness to accept the risk.
B. Escalate the issue to the CAE to assess whether the ClO ' s reasoning is acceptable.
C. Escalate the issue to the audit committee, as the CIO is unwilling to implement the recommended action plan.
D. Provide an example of the attestation form that vendors must use. Then, recommend that the IT team require vendors to submit the attestation form on a regular basis.

Question 3

A company makes a product at a cost of $26 per unit, of which $10 is fixed cost. The product is usually sold for $30 per unit; however, the company has been approached by a new customer who would like to purchase
3,500 units for $18 each Further, the company would Incur additional cost to deliver the units to this customer If the company has the excess manufacturing capacity and all other factors are constant, what is the additional cost that the company would Incur in order to make a profit of $1.50 per unit for this order?

A. $0.50
B. $2 50
C. $3.50
D. $1.50

Question 4

Which of the following is the next step in understanding a business process once an internal auditor has identified the process?

A. Determine process outputs.
B. Determine process goals.
C. Determine process activities.
D. Determine process inputs.

Question 5

Following an IT systems audit, management agreed to implement a specific control in one of the IT systems.
After a period, the internal auditor followed up and learned that management had not implemented the agreed management action due to the decision to move to another IT system that has built-in controls, which may address this risks highlighted by the Internal audit Which of the following Is the most appropriate action to address the outstanding audit recommendation?

A. The auditor examines the system documentation of the new system to verify that the risk has been addressed in the new system, then reports to senior management the closure of the issue.
B. The auditor requires management to provide details regarding the process for selecting the new IT system and whether other systems were evaluated, and closure of the issue would depend on the new information provided.
C. The auditor advises management that replacing the IT system does not dismiss the prior obligation to implement the agreed action plan, and escalates the issue to senior management and the board.
D. The auditor accepts managements explanation that the previously identified issue is adequately addressed by the new IT system, as management understands the concern and is most knowledgeable about the new system, and closes the outstanding issue.

Solutions: