Question 1

According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

Options :

A : It documents the audit steps and procedures to be performed.

B : It documents preliminary information useful to the audit team.

C : It documents events that could hinder the achievement of process objectives.

D : It documents existing measures that manage risks in the area under review.

Answer: B

Question 2

When setting the scope for the identification and assessment of key risks and controls in a process, which of the following would be the least appropriate approach?

Options :

A : Develop the scope of the audit based on a bottom-up perspective to ensure that all business objectives are considered.

B : Develop the scope of the audit to include controls that are necessary to manage risk associated with a critical business objective.

C : Specify that the auditors need to assess only key controls, but may include an assessment of non-key controls if there is value to the business in providing such assurance

D : Ensure the audit includes an assessment of manual and automated controls to determine whether business risks are effectively managed.

Answer: A

Question 3

A chief audit executive is preparing interview questions for the upcoming recruitment of a senior internal auditor. According to IIA guidance, which of the following attributes shows a candidate's ability to probe further when reviewing incidents that have the appearance of misbehavior?

Options :

A : Integrity.

B : Flexibility

C : Initiative.

D : Curiosity.

Answer: D

Question 4

Which of the following statements is true pertaining to interviewing a fraud suspect?1. Information gathered can be subjective as well as objective to be useful.2. The primary objective is to obtain a voluntary written confession.3. The interviewer is likely to begin the interview with open-ended questions.4. Video recordings always should be used to provide the highest quality evidence

Options :

A : 1 only

B : 4 only

C : 1 and 3

D : 2 and 4

Answer: C

Question 5

An internal auditor is conducting an initial risk assessment of an audit area and wants to assess management's compliance with privacy laws for safeguarding customer information stored on the organization's servers. Which course of action is appropriate for this phase of the engagement?

Options :

A : Solicit the services of a specialist information systems auditor

B : Obtain the most current approved copies of the organization-s privacy policy

C : Consult with legal counsel about new privacy laws to establish appropriate criteria

D : Consider the detection risk of noncompliance with the laws

Answer: B

Free IIA-CIA-Part2 Mock Exam – Practice Online Confidently

Buying Options: