Online Access Free IIA.IIA-CIA-Part1.v2022-06-03.q167 Practice Test (Page 15)

IIA-CIA-Part1 Exam Question 66

An engagement manager is reviewing the results of sampling work performed by staff internal auditors. Which interim report statement should immediately give the engagement manager cause for concern about the nature and quality of the sampling procedure?

A.The acceptable risk of assessing control risk too low is 10%, the tolerable deviation rate is 5%, the true, but unknown population rate is less than 5%, the achieved upper deviation limit is 4.8%.

B.The acceptable risk of assessing control risk too low is 10%, the tolerable deviation rate is 5%, the expected population deviation rate is 1%, sample size is 80 out of a large population.

C.The acceptable risk of assessing control risk too low is 5%, the tolerable deviation rate is 5%, the expected population deviation rate is 1%, the confidence expressed is 95%.

D.The acceptable risk of assessing control risk too low is 5%, the tolerable deviation rate is 5%, the expected population deviation rate is 5%, the sample size is 1580.

IIA-CIA-Part1 Exam Question 67

After being terminated due to downsizing, an internal auditor finds a different job with an organization in the same industry. Which of the following actions would violate the IIA Code of Ethics?

A.To determine audit priorities in the new job, the auditor uses the audit risk approach that the auditor's previous employer used, without receiving permission to do so.

B.At the new organization, the auditor is asked to develop forms to implement probability-proportional-to-size sampling. Although unsure of how to perform this type of sampling, the auditor proceeds without asking for assistance.

C.In preparing for an audit at the previous organization, the auditor had conducted a great deal of research on the Internet at home to identify best practices for the management of a treasury function. The auditor has retained much of the research and uses it to conduct an audit of the new employer's treasury function.

D.In the first week at the new organization, the auditor discovers a high fraud risk surrounding the organization's database and suggests that the information technology department implement a new password system to prevent fraudulent actions before they occur.

IIA-CIA-Part1 Exam Question 68

Which of the following actions best demonstrates that an internal auditor is exercising due professional care?

A.The auditor is alert to the possibility of fraud and activities where irregularities are most likely to occur.

B.The auditor performs thorough reviews and provides absolute assurance of regulatory compliance.

C.The auditor recommends improvements for all of the organization's procedures and practices.

D.The auditor is cognizant of reducing travel expenses by combining a personal vacation with a business trip.

IIA-CIA-Part1 Exam Question 69

To ensure that due professional care has been taken during an audit engagement, an internal auditor should always:

A.Consider the possibility of noncompliance or irregularities at all times during an engagement.

B.Notify the audit committee of any noncompliance or irregularity discovered during an engagement.

C.Ensure that all financial information related to the engagement is included in the audit plan and examined for irregularities.

D.Document all audit tests completely.

IIA-CIA-Part1 Exam Question 70

An auditor plans to analyze customer satisfaction, including: (1) customer complaints recorded by the customer service department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a survey of customers who made purchases in the last three months. Which of the following statements regarding this audit approach is correct?

A.Steps 1 and 2 of the analysis are not necessary or cost-effective if the customer survey is comprehensive.

B.Although useful, such an analysis does not address any risk factors.

C.Analysis of three months' activity would not evaluate customer satisfaction.

D.The survey would not consider customers who did not make purchases in the last three months.

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IIA-CIA-Part1 Exam Question 66

IIA-CIA-Part1 Exam Question 67

IIA-CIA-Part1 Exam Question 68

IIA-CIA-Part1 Exam Question 69

IIA-CIA-Part1 Exam Question 70

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