IIA-CIA-Part1

IIA-CIA-Part1 practice questions, page 38 of 47, with answer review and explanations.

Question 186

Reportable audit findings must be: I. Documented by facts. II. Supported by relevant evidence. III. Agreed to by management of the audited area. IV. Convincing enough to compel corrective action.

  1. I and IV only
  2. II and III only
  3. I, II, and IV only
  4. I, II, III, and IV.

Question 187

Risk within an internal audit engagement is defined as the:

  1. Probability that a balance or class of transactions and related assertions contain misstatements that could be material to the financial statements.
  2. Uncertainty of an event occurring that could have an impact on the achievement of objectives.
  3. Failure to adhere to organizational policies, plans, and procedures, or the failure to comply with relevant laws and regulations.
  4. Failure to accomplish established objectives and goals for operations or programs.

Question 188

The percentage of orders that are rush orders and the percentage of returns to total orders are examples of which of the following types of control activities?

  1. Quality control monitoring.
  2. Direct functional management.
  3. Benchmarking.
  4. Performance indicators.

Question 189

According to the International Professional Practices Framework, risk is: I. Defined as the negative effect of events that are expected to occur. II. Measured in terms of consequences. III. Measured in terms of likelihood.

  1. I only
  2. I and II only
  3. II and III only
  4. I, II, and III.

Question 190

When planning the work program for an assurance engagement, an internal auditor should first review the department's business objectives and then:

  1. Identify risks.
  2. Review controls.
  3. Determine scope.
  4. Evaluate vulnerabilities.