Free IIA IIA-CIA-Part1 Exam Dumps Questions & Answers

Which of the following scenarios violates The IIA's standard regarding internal audit independence?

• A.  The chief audit executive (CAE) reports on the internal audit activity's day-to-day tasks and responsibilities to the CEO.
• B.  The CAE regularly meets with the organization's chief risk officer, who validates all reported audit findings and dictates which will be Included In the package to the audit committee.
• C.  An assessment of the risk management function is reviewed by an outside consulting firm because the CAE is temporarily fulfilling the role of risk manager.
• D.  The internal audit activity will experience staffing shortages for the next six months due to planned and unplanned leaves of absence; therefore the CAE proposed including fewer audits in the annual audit plan compared to the previous financial year.

Which of the following is an example of impairment to internal auditor independence or objectivity'?

• A.  Assurance engagements for functions over which the chief audit executive (CAE) has responsibility are overseen by a party outside the internal audit activity
• B.  Internal auditors provide consulting services relating to operations for which they had previous responsibilities
• C.  Internal auditors provide consulting services relating to operations for which they have current responsibilities
• D.  Consulting engagements for functions over which the CAE has responsibility are overseen by a party outside the internal audit activity

When performing an audit of the risk management process an auditor makes the observations listed below.
Which poses the greatest risk to the organization?

• A.  The process in place to identify and evaluate new risks to the organization is informal and poorly documented.
• B.  The identified risks have not undergone a detailed review to ensure completeness in the past two years.
• C.  The controls in place to mitigate the risks are not tested on an annual basis to confirm operating effectiveness.
• D.  The identified risks have not been ranked to establish their importance and risk management priority.

During the closing meeting of a procurement audit, the business manager disagrees with the observation presented by the engagement supervisor and accuses the team of not understanding the procurement objectives The engagement supervisor blames the manager for impeding the audit What skillset should the chief audit executive utilize to manage this situation?

• A.  The ability to negotiate
• B.  The ability to use analytical tools
• C.  The ability to manage conflict
• D.  The ability to foresee issues

During a payroll audit, a staff internal auditor suspects that signatures on some of the documents being sampled for examination are not authentic. Which of the following actions should the auditor take before proceeding with the examination?

• A.  Review the suspicious documents with the chief audit executive and seek advice concerning further examination.
• B.  Discuss the suspicious documents with payroll staff to seek their views on the authenticity of the signatures.
• C.  Keep the suspicious documents in the workpaper file until the end of the engagement, and then discuss the suspicions with the payroll manager.
• D.  Suggest to the payroll manager that the suspicious documents should be sent to the organization's security department for forensic review.