IIA Internal Audit Engagement - IIA-CIA-Part2무료 덤프문제 풀어보기

A. Valid closure of an observation ensures it will be included in the final engagement report

B. Valid closure requires the client lo address not only the condition, but also the cause of the condition

C. Valid closure requires assurance from management that the original problem will not recur in the future

D. Valid closure requires evidence that ensures the corrected process will function as expected in the future

A. Residual risk.

B. Audit risk.

C. Inherent risk

D. Sampling risk.

A. Electronic data interchange

B. Enterprise resource planning

C. Material requirements planning

D. Customer relationship management

A. Residual risk.

B. Control risk.

C. Sampling risk.

D. Nonsampling risk.

A. Prepare a bank reconciliation statement for all the bank accounts of the organization

B. Investigate whether the budget of the project was approved timely as required by internal policies

C. Track a sample of project payments from accounts payable to concluded agreements and authorization rights

D. Validate the accuracy of assumptions and inputs used for calculations in the project's feasibility model

A. ICQs are most useful in more organic, decentralized organizations with specialized departmental or regional characteristics.

B. An ICQ is not an efficient tool, as it can only inquire about controls and it does not test them.

C. An ICQ can be used effectively either by sending it in advance for management of the area under review to complete or by testing each procedure and recording the results.

D. ICQs are also known as checklist audits and encourage management of the area under review to answer
" no " or " yes " more accurately.

A. To plan for evaluating potential losses.

B. To evaluate the design of controls.

C. To prepare a sampling plan for the engagement.

D. To prepare for testing the effectiveness of controls.

A. The CAE is required to review, approve, and sign all regulatory compliance engagement reports only

B. The CAE is required to review, approve, and sign every engagement report.

C. The internal audit charter must identify authorized signers of engagement reports.

D. The CAE may delegate responsibility for reviewing, approving and signing engagement reports, but should review the reports after they are issued.

A. ICQs do not allow for evaluating multiple locations.

B. ICQs do not allow for open-ended questions.

C. ICQs require significant auditor follow-up, as different managers may give different responses.

D. ICQ respondents have incentives to answer that there are internal controls in place.

A. Objectives scope and timing at a high level to support coordination while adhering to confidentiality requirements

B. All plan information, including risk assessments, planned tests and past results to maximize the opportunity for coordination with internal and external providers.

C. No information should be shared with internal and external provider as it could introduce bias into the engagement results.

D. The area and timing of the audit engagement to ensure confidentially and avoid conflict of interest.

A. Call a meeting and discuss me issue with the audit committee

B. Alert the CEO as soon as the issue is discovered

C. Intern accounting management via an interim memorandum update

D. Note the item in the workpapers for inclusion in the final audit report

A. Process objectives.

B. Process risks

C. Process scope

D. Process controls.

A. Compare the firm ' s financial performance with organizations in the same industry

B. Interview all managers involved in preparing the financial statements

C. Trace each financial transaction to the original supporting document

D. Perform a bank reconciliation to confirm the cash balance in the financial statements.

A. Contractor non-disclosure agreements.

B. Receipts for employee expenses.

C. Awareness of prior incidents of fraud.

D. Verification of currency exchange rates.