Nov 14, 2022 Reliable Study Materials for IIA-CIA-Part2 Exam Success For Sure
100% Latest Most updated IIA-CIA-Part2 Questions and Answers
Certification Topics of IIA CIA Part 2 Exam
IIA CIA Part 2 Exam is a key to success. The exam is written in such a way that it tests the candidates on various aspects of IT. Passing the IIA CIA Part 2 Exam will earn you a certification and help you advance your career.
The IIA CIA Part 2 Exam covers a wide range of concepts, including but not limited to:
Planning the engagement (20%)
Communicating engagement results and monitoring progress (20%)
Performing the engagement (40%)
Managing the internal audit activity (20%)
NEW QUESTION 343
A governmental auditor was assigned to determine reasons why the students in one region scored significantly higher on education evaluation tests than did the students in another region. Previous research showed that there is a direct correlation between public financial support and student results. Which of the following is most likely to explain the difference in the regional results?
- A. The more successful region has increased educational spending by an average of 10 percent each year for the last three years, whereas the other region's increase averaged only three percent.
- B. The more successful region spends 30 percent more money on education than does the other region.
- C. A higher percentage of the general tax fund is spent on education in the more successful region than in the other region.
- D. The more successful region spends more money per student on education than does the other region.
Answer: D
Explanation:
Section: Volume A
NEW QUESTION 344
During a routine audit of a customer service hotline, an internal auditor noticed that an unusually high number of customer complaints pertained to payments not being applied to the customers' accounts.
Which of the following would most likely be the reason for the high volume of complaints?
- A. Check tampering by an employee.
- B. Poor controls in the invoice approval processes.
- C. Submission of fraudulent expense reports.
- D. An ineffective customer service department.
Answer: A
Explanation:
Section: Volume A
NEW QUESTION 345
Which of the following is an advantage to using the questionnaire approach when conducting risk and control self assessments?
- A. It allows for in-depth probing of issues.
- B. Responses can easily be quantified and analyzed.
- C. Follow-up for clarification is efficient.
- D. It is educational for participants.
Answer: B
NEW QUESTION 346
During an audit of a branch bank, an internal auditor learned that a series of system failures had resulted in a four-day delay in processing customers' scheduled payroll direct deposits. The first failure was that of a disk drive, followed by software and other minor failures. Which of the following controls should the auditor recommend to avoid similar delays in processing?
- A. Contingency planning.
- B. Process monitoring.
- C. Preventive maintenance.
- D. Redundancy checks.
Answer: A
NEW QUESTION 347
According to IIA guidance, which of the following strategies would be the least effective in helping a chief audit executive build a stronger relationship with the board?
- A. Minimize instances of ad hoc communications with board members.
- B. Avoid making presumptuous comments without sufficient facts.
- C. Consider the possible repercussions created by commentary on deficiencies.
- D. Consider formality and tone of communications to ensure they are appropriate.
Answer: A
Explanation:
Section: Volume D
NEW QUESTION 348
During an assurance engagement, an internal auditor noted that the time staff spent accessing customer information in large Excel spreadsheets could be reduced significantly through the use of macros. The auditor would like to train staff on how to use the macros. Which of the following is the most appropriate course of action for the internal auditor to take?
- A. The auditor must create a new, separate consulting engagement with the business process owner prior to performing the improvement task.
- B. The auditor must not perform the training, because any task to improve the business process could impact audit independence.
- C. The auditor may proceed with the improvement task without obtaining formal approval, because the task is voluntary and not time-intensive.
- D. The auditor should get permission to extend the current engagement, and with the process owner's approval, perform the improvement task.
Answer: D
NEW QUESTION 349
Which of the following behaviors could represent a significant ethical risk if exhibited by an organization's board?
1. Intervening during an audit involving ethical wrongdoing.
2. Discussing periodic reports of ethical breaches.
3. Authorizing an investigation of an unsafe product.
4. Negotiating a settlement of an employee claim for personal damages.
- A. 2 and 3
- B. 1 and 4
- C. 3 and 4
- D. 1 and 2
Answer: B
NEW QUESTION 350
Which of the following would be the most effective method to prevent installation of new equipment that does not meet environmental permit requirements, or to prevent modification of current processes in such a way that they no longer meet permit requirements?
- A. Include the environmental compliance department in the review of proposed process changes and equipment purchases affecting permit requirements.
- B. Require that the environmental compliance department perform regular inspections of the manufacturing facility to identify new equipment or process modifications in progress.
- C. Require that the staff of the environmental compliance department attend monthly safety meetings in different parts of the facility so that they can hear directly from the workers about any changes.
- D. Rely on annual inspections by various regulatory agencies to identify equipment or processes that require a permit.
Answer: A
NEW QUESTION 351
Which of the following is true regarding roles and responsibilities in risk management processes?
- A. Identifying, assessing, mitigating and monitoring activities on a continuous basis rests with the internal audit activity.
- B. Acceptance of residual risk resides with executive management level.
- C. Setting strategic direction resides with senior management.
- D. Ownership of risks resides with the board.
Answer: B
NEW QUESTION 352
Which of the following best describes the four components of a balanced scorecard?
- A. Business objectives, critical success factors, innovation, and growth.
- B. Customers, support, critical success factors, and learning.
- C. Customers, innovation, growth, and internal processes.
- D. Financial measures, learning and growth, customers, and internal processes.
Answer: D
NEW QUESTION 353
Which of the following would most likely include recommendations for process improvements?
Due diligence engagement.
Forensic investigation.
Internal audit engagement.
Consulting engagement.
- A. 1, 2, and 4 only
- B. 1, 3, and 4 only
- C. 2, 3, and 4 only
- D. 1, 2, and 3 only
Answer: C
NEW QUESTION 354
Which of the following is the primary purpose of financial statement audit engagements?
- A. To assess the efficiency and effectiveness of the accounting department.
- B. To provide an analysis of business process controls in the accounting department, including tests of compliance with internal policies and procedures.
- C. To provide a review of routine financial reports, including analyses of selected accounts for compliance with generally accepted accounting principles.
- D. To evaluate organizational and departmental structures, including assessments of process flows related to financial matters.
Answer: C
NEW QUESTION 355
Which of the following is the first step in the process where auditors and clients work together to evaluate the clients' system of internal control?
- A. Assess risks.
- B. Develop questionnaires.
- C. Identify objectives.
- D. Identify and assess controls.
Answer: C
NEW QUESTION 356
What does the following scatter gram suggest?
- A. Sales revenue is related to training costs.
- B. The training program is not effective.
- C. One data point is incorrectly plotted.
- D. Increases in training costs consistently increase sales revenue.
Answer: A
NEW QUESTION 357
An internal auditor has completed an audit of an organization's activities and is ready to issue a report. However, the client disagrees with the internal auditor's conclusions. The auditor should:
- A. Issue the audit report and omit the client's conclusion as it is not the opinion of the internal auditor.
- B. Issue the audit report and state both the auditor and client positions and the reasons for the disagreement.
- C. Perform additional work, with the client's concurrence, to resolve the areas of disagreement and delay the issuance of the report until agreement is reached.
- D. Withhold the issuance of the audit report until agreement on the issues is obtained.
Answer: B
NEW QUESTION 358
When planning an audit engagement, what should an internal auditor first consider when assessing the risk of fraud in the area to be audited?
- A. Existence of evidence of fraud.
- B. Impact of and exposure to fraud.
- C. Management's risk appetite.
- D. Organizational structure.
Answer: B
NEW QUESTION 359
In performance auditing, which of the following must first be determined by the internal auditor?
- A. Whether management controls are appropriate.
- B. Management's objectives for the process.
- C. Determination that appropriate benchmarks are in place.
- D. Which key performance indicators are in use.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION 360
The final engagement communication contains the following observation:
The internal auditor discovered that three of the 10 contracts reviewed failed to meet the organization's competitive bidding requirements Management explained that senior management deemed these purchases to be critical and awarded them as sole-source." Which of the following components is missing in the documentation of the observation?
- A. Condition
- B. Cause
- C. Criteria.
- D. Effect
Answer: D
NEW QUESTION 361
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How much does it cost to take the IIA CIA Part 2 Exam?
The IIA CIA Part 2 Exam fee of member is the USD 230, the nonmember fee is the USD 345 and Student/Professor fee is USD 180.
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