Free Access to IIA.IIA-CIA-Part3-3P.v2022-11-09.q137 with Valid Practice Test (Page 19)

Question 86

When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:

A.Identifying risks to the organization's operations.
B.Prioritizing known risks.
C.Reviewing organizational objectives.
D.Observing and analyzing controls.

Question 87

During a review of the accounts payable process, an internal auditor gathered all of the vendor payment transactions for the past 24 months. The auditor then used an analytics tool to identify the top five vendors that received the highest sum of payments.
Which of the following analytics techniques did the auditor apply?

A.Data mining.
B.Process mining.
C.Process analysis.
D.Data analysis.

Question 88

An organization is considering the outsourcing of its business processes related to payroll and information technology functions. Which of the following is the most significant area of concern for management regarding this proposed agreement?

A.Ensuring that there are means of monitoring the efficiency of the outsourced process.
B.Ensuring that payments to the vendor are appropriate and timely for the services delivered.
C.Ensuring that the vendor has complete management control of the outsourced process.
D.Ensuring that there are means of monitoring the effectiveness of the outsourced process.

Question 89

Which of the following best describes an objective for an audit of an environmental management system?

A.To determine conformance with requirements and agreements.
B.To promote environmental awareness.
C.To assess whether an annual control review is necessary.
D.To evaluate executive management oversight.

Question 90

According to Porter, which of the following is associated with fragmented industries?

A.Weak entrance barriers.
B.Steep experience curve.
C.Significant scale economies.
D.Strong negotiation power with suppliers.

Question 86

Question 87

Question 88

Question 89

Question 90

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