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Free IIA CIA Exam Braindumps (page: 103)

Page 85 of 427
PDF with 1702 Questions

Which of the following methods would an auditor most likely use to document a complex sales order process?

  1. Develop a horizontal flowchart, with supporting documentation for key control points.
  2. Create a critical path method chart, noting the processes involved for each step.
  3. Perform a process review, assigning time and cost to each step of the process to develop a hierarchy flowchart.
  4. Utilize a systems narrative, which can be updated during subsequent audits.

Answer(s): A



An internal auditor for a large regional bank holding company was asked to serve on the board of directors of a local bank. The bank competes in many of the same markets as the bank holding company but focuses more on consumer financing than on business financing. In accepting this position, the auditor

I). Violates the IIA Code of Ethics because serving on the board is in direct conflict with the best interests of the auditor's employer.
II). Violates the IIA Code of Ethics because the information gained while serving on the board of directors of the local bank may influence recommendations regarding potential acquisitions.
III). Does not violate the IIA Code of Ethics.

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

Answer(s): D



When performing a followup review of an organization's billing function, which of the following would be appropriate?

I). Consider followup measures performed by managers in the organization.
II). Investigate payables problems that have emerged since completion of the audit.
III). Assess the adequacy of corrective measures taken by management

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

Answer(s): B



An auditor plans to query a vendor database to locate evidence of a fictitious vendor scheme. Which of the following would be likely to detect this type of fraud?

I). Vendors that lack a phone number or an address
II). Vendors that have a post office box as an address
III). Vendors that have multiple addresses

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

Answer(s): C






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