Practice Free IIA-CIA-Part2 Exam Online Questions
Flowcharts highlight the control points to help internal auditors evaluate control design
- A . 1 and 3 only
- B . 2 and 4 only.
- C . 1.2. and 3 only
- D . 2. 3 and 4 only
Flowcharts highlight the control points to help internal auditors evaluate control design
- A . 1 and 3 only
- B . 2 and 4 only.
- C . 1.2. and 3 only
- D . 2. 3 and 4 only
An audit identified a number of weaknesses in the configuration of a critical client/server system. Although some of the weaknesses were corrected prior to the issuance of the audit report, correction of the rest will require between 6 and 18 months for completion. Consequently, management has developed a detailed action plan, with anticipated completion dates, for addressing the weaknesses.
What is the most appropriate course of action for the chief audit executive to take?
- A . Assess the status of corrective action during a follow-up audit engagement after the action plan has been completed.
- B . Assess the effectiveness of corrections by reviewing statistics related to unplanned system outages, and denials of service.
- C . Reassign information systems auditors to assist in implementing management’s action plan.
- D . Evaluate the ability of the action plan to correct the weaknesses and monitor key dates and deliverables.
Which of the following statements accurately describes the Standards requirement for ret internal audit records?
- A . Retention requirements for internal audit records should be compliant with ones set for external audit records
- B . Retention requirements should take into account the medium in which internal audit records are stored
- C . Retention requirements should be set by the chief audit executive and aligned will the organization s process and procedures
- D . Retention requirements should set a minimum period of the for records storage and the process of archiving documents
The chief audit executive (CAE) of an organization has completed this year’s risk-based audit plan and realized that current staff resources are insufficient to meet the needs of the plan.
What course of action should the CAE take?
- A . Amend the audit plan so that available audit resources are adequate to meet the plan’s requirements.
- B . Inform the board and senior management of the resources needed, as well as the associated risks.
- C . Communicate early to those unit managers whose areas would most likely not be able to get reviewed.
- D . Get approval from human resources regarding overtime payment to be made in an effort to complete the audit plan.
B
Explanation:
Per IIA Standard 2020: Communication and Approval, the CAE must inform senior management and the board if the audit plan cannot be executed as approved due to resource constraints. This allows senior leaders to decide whether to provide additional resources or adjust the plan. Option A would bypass the necessary approval process. Option C shifts responsibility without addressing the root issue, while Option D may not adequately resolve resource constraints.
Besides a chief audit executive’s professional experience what determines the frequency and approach to assessing residual risk?
- A . The frequency of executing the internal audit engagements
- B . The frequency of changes in the organization environment
- C . The expectations set by the board and senior management
- D . The expectations set by operating management and senior management
Besides a chief audit executive’s professional experience what determines the frequency and approach to assessing residual risk?
- A . The frequency of executing the internal audit engagements
- B . The frequency of changes in the organization environment
- C . The expectations set by the board and senior management
- D . The expectations set by operating management and senior management
Besides a chief audit executive’s professional experience what determines the frequency and approach to assessing residual risk?
- A . The frequency of executing the internal audit engagements
- B . The frequency of changes in the organization environment
- C . The expectations set by the board and senior management
- D . The expectations set by operating management and senior management
Arrange for reciprocal peer review with another CAE.
- A . 1 and 2
- B . 2 and 4
- C . 1, 2, and 3
- D . 2, 3, and 4
Arrange for reciprocal peer review with another CAE.
- A . 1 and 2
- B . 2 and 4
- C . 1, 2, and 3
- D . 2, 3, and 4