Online Access Free IIA-CIA-Part2 Exam Questions

During an assurance engagement, an internal auditor discovered that a sales manager approved numerous sales contracts for values exceeding his authorization limit. The auditor reported the finding to the audit supervisor, noting that the sales manager had additional new contracts under negotiation. According to IIA guidance, which of the following would be the most appropriate next step?

• A.The audit supervisor should include the new contracts in the finding for the final audit report.
• B.The auditor should not reference the new contracts, because they are not yet signed and therefore cannot be included in the final report.
• C.The audit supervisor should communicate the finding to the supervisor of the sales manager through an interim report.
• D.The audit supervisor should remind the sales manager of his authority limit for the contracts under negotiation.

Which of the following would be the most helpful to a chief audit executive when developing a talent management strategy?

• A.Extent of external audit coverage
• B.Maturity analysis
• C.Gap analysis
• D.Staff preferences

Flowcharts are useful during audit planning because they contain information that may help internal auditors with which of the following?

• A.Determining the size of the audit team needed to perform the review.
• B.Understanding management ' s risk tolerance.
• C.Understanding organizational objectives.
• D.Understanding business processes.

The audit manager asked the internal auditor to perform additional testing because several irregularities were found in the financial information. Which of the following would be the most appropriate analytical review for the auditor to perform?

• A.Compare the firm ' s financial performance with organizations in the same industry
• B.Perform a bank reconciliation to confirm the cash balance in the financial statements.
• C.Trace each financial transaction to the original supporting document
• D.Interview all managers involved in preparing the financial statements

What is an appropriate way for a chief audit executive (CAE) to gather information about the organization ' s tone at the top?

• A.Establish a network of internal informants to report on ethical topics in secret.
• B.Conduct regular meetings with CAEs of peer organizations.
• C.Attend meetings of executive committees as an observer.
• D.Carry out regular surveys to test employees ' knowledge of the organization ' s code of conduct.