Free IIA IIA-CIA-Part2-3P Exam Questions

Become IIA Certified with updated IIA-CIA-Part2-3P exam questions and correct answers

Page: 1 / 97

Total 485 Questions | Updated On: Apr 29, 2025

Add To Cart

Question 1

An organization decides to create an internal audit function and hires a new chief audit executive (CAE). Which of the following should the CAE first consider when developing the internal audit process?

Section: Volume D

A : quirements of the external auditors to ensure an efficient coordination of audit effort.

B : fficient resources to adequately meet the needs of the annual audit plan.

C : ignment of internal audit objectives with the organization's strategic plan

D : appropriate training plan for audit staf

Answer: C

Question 2

Which of the following best describes external benchmarking using trend analysis for a subsidiary of an international company?

A : mparing the current ratio of the subsidiary with the current ratio of another company for the same period

B : mparing common-size financial statements of the subsidiary with the averages of the industry for the last two periods

C : mparing the sales of the subsidiary with the sales of another subsidiary for the last two periods.

D : mparing the sales of the subsidiary with the budgeted figures for the last two periods

Answer: B

Question 3

To compete in the global market, an organization is restructuring and consolidating many of its divisions. Prior to the consolidation, senior management requested assistance from tie internal audit activity. Which of the following consulting services would be most appropriate in this situation?

A : ess controls for potential compliance issues that may affect me consolidation

B : ief vendors on the potential risks that will occur without continued business

C : vise division managers on how to streamline operations for better efficiency

D : termine whether the organization's controls are effective in meeting business objectives

Answer: C

Question 4

An internal auditor e assessing the design of a control and has identified a potential significant weakness. The auditor shared his concern with management however management does not agree that the weakness is significant. What should the internet auditor do next?

A : rform additional audit work to better articulate the risk

B : port the finding that management has accepted a level of risk that is unacceptable.

C : oceed to testing how effectively the control is opening.

D : cause the design weakness has been identified no additional audit work is needed

Answer: A

Question 5

Which of the following best exemplifies having effective risk management and internal control processes?

A : levant risk indicators and mitigation plans are in place

B : l risks are identified and assessed

C : iness profitability is likely to be achieved

D : k information is communicated to customers and suppliers

Answer: C

Page: 1 / 97

Total 485 Questions | Updated On: Apr 29, 2025

Add To Cart