IIA-CIA-Part2

IIA-CIA-Part2 practice questions, page 6 of 39, with answer review and explanations.

Question 26

Which of the following audit procedures is most suitable for verifying that all sales transactions have been recorded?

  1. Observation.
  2. Tracing.
  3. Re-computation.
  4. Vouching.

Question 27

Which of the following would be an appropriate and effective control self-assessment approach in an organization with an authoritative culture? I. Facilitated meeting - II. Survey - III. Management-produced analysis

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

Question 28

What does the following scatter gram suggest?

  1. Sales revenue is related to training costs.
  2. The training program is not effective.
  3. Increases in training costs consistently increase sales revenue.
  4. One data point is incorrectly plotted.

Question 29

New credit policies have been implemented in an automated order-entry system to improve the collection of receivables. Sales management has compiled several examples that show decreased sales and delayed order entry, and contends that these examples are a direct result of the new credit-policy constraints. Sales management's data and information provide.

  1. Feedback control data.
  2. Irrelevant and argumentative information.
  3. Evidence that the new credit policies do not meet the stated corporate objective to improve collections.
  4. A statistically valid conclusion about the impact of the new credit policies on customer goodwill.

Question 30

If an organization's chief audit executive wants to implement continuous auditing, what is the appropriate order in which key steps should be undertaken? I. Identify business applications that require access. II. Implement steps to continuously assess risks and controls. III. Define objectives of continuous auditing. IV. Manage and report results.

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