IIA-CIA-Part1 Exam Question 91
Which two of the following are preventive controls in a check disbursement process?
1.Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-reconciled items.
2.Segregation of the following duties: establishing new vendors,approving checks,and reconciling the bank account.
3.An activity report detailing who accesses the check disbursement system and the nature of any action taken in the system.
4.Evidence of strong access controls ensuring that authorized individuals have access only to the functions related to their responsibilities.
1.Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-reconciled items.
2.Segregation of the following duties: establishing new vendors,approving checks,and reconciling the bank account.
3.An activity report detailing who accesses the check disbursement system and the nature of any action taken in the system.
4.Evidence of strong access controls ensuring that authorized individuals have access only to the functions related to their responsibilities.
IIA-CIA-Part1 Exam Question 92
An internal auditor has taken an attributes sample of a bank's existing loan portfolio. Out of a sample of 60 loans, the auditor found:
Four that were not properly collateralized.
Five that were not in compliance with bank policies (other than lack of collateralization).
Four that were part of a related-party group, but were set up as separate loan entities.
Of the 60 loans selected in the sample, these errors were noted on a total of 10 loans.
Several loans had multiple problems.
Which of the following conclusions can the auditor reach from these observations?
1. There is sufficient evidence that fraudulent activity is taking place by one or more of the bank's lending officers.
2. The financial statements will be misstated as a result of these actions.
3. There are significant noncompliance audit findings that should be reported.
Four that were not properly collateralized.
Five that were not in compliance with bank policies (other than lack of collateralization).
Four that were part of a related-party group, but were set up as separate loan entities.
Of the 60 loans selected in the sample, these errors were noted on a total of 10 loans.
Several loans had multiple problems.
Which of the following conclusions can the auditor reach from these observations?
1. There is sufficient evidence that fraudulent activity is taking place by one or more of the bank's lending officers.
2. The financial statements will be misstated as a result of these actions.
3. There are significant noncompliance audit findings that should be reported.
IIA-CIA-Part1 Exam Question 93
Click the Exhibit.
Internal auditors are asked to keep track of how many hours per day they spend planning the audit,conducting the engagement,and writing the audit report. The data for two days has been collected as follows:
Day 1 Day 2 Planning the audit 2 hours 3 hours Conducting the engagement 1 hour 1 hour Writing the audit report 2 hours 4 hours
Which of the following graphs depicts the data accurately?
Internal auditors are asked to keep track of how many hours per day they spend planning the audit,conducting the engagement,and writing the audit report. The data for two days has been collected as follows:
Day 1 Day 2 Planning the audit 2 hours 3 hours Conducting the engagement 1 hour 1 hour Writing the audit report 2 hours 4 hours
Which of the following graphs depicts the data accurately?
IIA-CIA-Part1 Exam Question 94
Which of the following is a benefit from reduced testing during a particular phase of an audit engagement?
IIA-CIA-Part1 Exam Question 95
Which of the following is the most appropriate outcome measure for assessing safety operations?