IIA-CIA-Part1 Dumps (2022) Prepare Your Exam With 566 Questions [Q177-Q194]

QUESTION 177
Management of a publicly-held organization requires the internal audit activity to be involvedwith quarterly financial statements, which are made public and used internally. Which of the following explanations of management’s decision is least plausible?

QUESTION 178
In selecting a team to perform an internal audit of a purchasing operation, which of the following characteristics would not preclude an auditor from being selected?
The auditor’s spouse is employed by the clerical section of the purchasing records
unit.
The auditor had been a purchasing agent five years earlier.
The auditor’s family owns a business that regularly sells goods to the organization.
The auditor has received a desk calendar as a promotional gift from a vendor.

QUESTION 179
Which of the following statements is correct with regard to risk management?

QUESTION 180
An internal auditor for a large retail chain suspects that a store manager has been stealing money from cash sales by listing the sales as accounts receivable and then writing off the accounts asbad debts. Which of the following irregularities is the most likely cause of the auditor’s suspicion?

QUESTION 181
Which of the following items of evidence is most valid to support a finding that a public utility’s repair crews are sometimes required to work under unsafe conditions?

QUESTION 182
Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity’s responsibility with regard to assessing an organization’s privacy framework?

QUESTION 183
Which of the following statements is true regarding the use of non-statistical sampling in auditing control tests?

QUESTION 184
Which of the following elements is important for an internal auditor to consider when performing a privacy risk assessment of an organization?
I. Areas where personal information is collected, used, stored, and disseminated.
II. Inherent risk.
III. Privacy practices of competitors.
IV. Third-party recipients of information.

QUESTION 185
An objective for an audit of a medical research corporation is to evaluate management’s controls to ensure that timely reports are submitted to sponsors of contracted research projects. In planning the audit to achieve this objective, the auditor should begin by:

QUESTION 186
An auditor plans to analyze customer satisfaction,including. (1) customer complaints recorded by the customer service department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a survey of customers who made purchases in the last three months.
Which of the following statements regarding this audit approach is correct?

QUESTION 187
Which of the following controls within a spreadsheet would address the risk of logic errors?
1.The spreadsheet contains formulas that foot and cross-foot data.
2.The spreadsheet is locked to protect cell formulas from being inadvertently changed.
3.Spreadsheets are included in nightly backup processes.
4.Check-in and check-out software is used to manage version control.

QUESTION 188
Which of the following describes a control weakness?

QUESTION 189
A manufacturing organization’s multi-step sales and shipping process starts when the organization’s headquarters receives the sales order. Headquarters then shares that data with the individual manufacturing facility that compiles the shipment. Finally, the individual manufacturing facility sends the shipments to the customer. Which method should the internal auditor use to document this process in a flowchart?

QUESTION 190
The results of an internal audit activity’s (IAA) quality assurance and improvement program are favorable and an external assessment was completed within the last five years. Which of the following statements may the IAA use to describe its work?

QUESTION 191
An auditor for a large wholesaler is evaluating the controls over the approval and oversight of credit sales. Which of the following procedures would be a control weakness?

QUESTION 192
Auditors 1, 2, and 3 work out of various offices. Each must be assigned to one, and only one, of three audit locations (A, B, or C). The cost of sending each auditor to each location is listed below:
Audit Locations
Auditor 1
A
B
C
Auditor 2
$200
$300
$400
Auditor 3
$400
$300
$600
Auditor 4
$200
$200
$500
The minimum cost with which this assignment can be accomplished is:

QUESTION 193
Which of the following is not a benefit of using information technology in solving audit problems?

QUESTION 194
During an audit engagement in an insurance company, an internal auditor discovered that senior management had purposely misclassified $200, 000 in assets on financial statements submitted to regulatory authorities in order to avoid significant statutory penalties. To remain in compliance with the IIA Code of Ethics, what would be the most appropriate action for the auditor to take?