Free IIA-CIA-Part2 Exam Dumps

MultipleChoice

When assessing the risk associated with an activity, an internal auditor should:

MultipleChoice

Which of the following would be a red flag that indicates the possibility of inventory fraud?

1. The controller has assumed responsibility for approving all payments to certain vendors.

2. The controller has continuously delayed installation of a new accounts payable system, despite a corporate directive to implement it.

3. Sales commissions are not consistent with the organization's increased levels of sales.

4. Payments to certain vendors are supported by copies of receiving memos, rather than originals.

MultipleChoice

An internal auditor observes a double payment transaction on a supplier invoice during an accounts payable engagement Which of the following steps would be the most effective in helping the auditor determine whether fraud exists?

MultipleChoice

The internal auditors available to perform the engagement do not have sufficient skills related to the area under review Which of the following rs an appropriate action for the chief audit executive to take?

MultipleChoice

As part of the preliminary survey, an internal auditor sent an internal control questionnaire to the accounts payable function Based on the questionnaire responses, the auditor determines that there is no established procedure for adding and approving new vendors What would the auditor do next?

MultipleChoice

As a result of a recent discovery of false information on employment applications, an internal auditor has reviewed hiring procedures. Which of the following represents a weakness in the control system?

I . Applicants are not required to have their signed applications legally authenticated.

II . Applicants' educational information is not validated with the educational institution before employment is offered.

III . Information related to applicants' long-term work history is not validated before employment is offered.

MultipleChoice

After issuance of the engagement final communication for an audit of an organization's accounts payable function, which of the following should be sent satisfaction surveys?

I . Manager of disbursements.

II . Controller.

III . Chief operating officer.

IV . Audit committee members.

MultipleChoice

In a client satisfaction survey for an internal audit engagement, client management should be asked to assess which of the following factors?

I . Audit team's knowledge of the audited area.

II . Usefulness of the audit results.

III . Quality of management of the internal audit activity.

IV . Clarity of the scope and objectives of the audit engagement.

MultipleChoice

An audit of a Web-based third-party payment processor determined that a programming error enabled customers to create multiple accounts for each mailing address. This caused problems during the processing of credit card transactions. Management agreed to correct the program and notify customers with multiple accounts that the accounts would be consolidated. What should the auditor do in response?

I . Amend the scope of the subsequent audit to verify that the program was corrected and that accounts were consolidated.

II . Evaluate the adequacy and effectiveness of the corrective action proposed by management.

III . Schedule a follow-up review to verify that the program was corrected and the accounts were consolidated.

IV . Do nothing because management has agreed to address the problem.

MultipleChoice

Which of the following types of internal audit consulting engagements is an example of a facilitation service?

I . Conducting control self-assessment workshops.

II . Participating on standing committees.

III . Reviewing regulatory compliance.

IV . Benchmarking.

V . Estimating savings from outsourcing processes.