Free Online IIA IIA-CIA-Part2-3P-CHS Practice Test

Prepare Your IIA IIA-CIA-Part2-3P-CHS Exam Questions with Free online IIA-CIA-Part2-3P-CHS Practice Test. Get Brilliant Certified Internal Auditor - Part 2, Internal Audit Practice Exam Results with Valid IIA CIA Part2 3P CHS Exam Dumps.

Page: 1 / 206

Total 1029 Questions | Updated On: May 15, 2024

Add To Cart

Question 1

After partially completing an internal control review of the accounts payable department, an auditor suspects that some type of fraud has occurred. To ascertain whether the fraud is present, the best sampling approach would be to use.

Section: Volume A

A : Simple random sampling to select a sample of vouchers processed by the department during the past year.

B : Probability-proportional-to-size sampling to select a sample of vouchers processed by the department during the past year.

C : Discovery sampling to select a sample of vouchers processed by the department during the past year.

D : Judgmental sampling to select a sample of vouchers processed by clerks who were identified by the department manager as acting suspiciously.

Answer: C

Question 2

Which of the following is a test control risk that is performed by the internal auditor?

Section: Volume E

A : Tracing invoices to ledgers.

B : Checking correct calculation of amounts.

C : Checking approval of expenses by appropriate persons.

D : Inspecting inventory to confirm existence.

Answer: C

Question 3

Which of the following statements is true regarding the audit objective for an assurance engagement?

A : Operational management must determine the audit objective in cooperation with the internal auditor

B : The audit objective may be adjusted after the start of an engagement and it does not need to align with the assessed risks

C : The audit objective must consider the possibility of fraud and noncompliance

D : The audit objective may or may not consider the possibility of fraud depending on the assessed likelihood and impact

Answer: C

Question 4

Which of the following components should be included in an audit finding?

1. The scope of the audit.

2. The standard(s) used by the auditor to make the evaluation.

3. The engagement's objectives.

4. The factual evidence that the internal auditor found in the course of the examination.

Section: Volume E

A : 1 and 2

B : 1 and 3 only

C : 2 and 4

D : 1, 3, and 4

Answer: C

Question 5

The project manager responsible for overseeing a controversial project decides to accept the risks associated with the project launch. These risks might have a significant impact on the organization meeting its environmental sustainability goals. Which of the following is the most appropriate next step for the chief audit executive to take in response to the decision?

A : Educate employees working on the project launch about the risks.

B : Notify the board about the significant risks the organization might face.

C : Communicate the risks to senior management.

D : Instruct the project manager to stop the controversial project development.

Answer: B

Page: 1 / 206

Total 1029 Questions | Updated On: May 15, 2024

Add To Cart