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IIA CIA Exam
Certified Internal Auditor Exam (Page 45 )

Updated On: 12-Feb-2026
Page 45 of 342
PDF with 1702 Questions

A high-volume retailer of consumer goods has used point-of-sale data to record sales and update inventory records for several years. When price changes are scheduled, corporate headquarters downloads a price change file to a computer server system at each store. Each store's assistant manager is responsible for checking the server for downloads and running the program that updates the store's price file at the authorized price update time. In comparison with having headquarters initiate the price update centrally, this approach to price updating will most likely

  1. Decrease the risk that customers will be undercharged consistently for sales items.
  2. Decrease the risk that item prices will sometimes be inaccurate.
  3. Increase the risk that customers will be undercharged consistently for sales items.
  4. Increase the risk that item prices will sometimes be inaccurate.

Answer(s): D



Which is the least effective form of risk management?

  1. Systems-based preventive control.
  2. People-based preventive control.
  3. Systems-based detective control.
  4. People-based detective control.

Answer(s): D



Which of the following describes a control weakness?

  1. Purchasing procedures are well designed and are followed unless otherwise directed by the purchasing supervisor.
  2. Prenumbered blank purchase orders are secured within the purchasing department.
  3. Normal operational purchases fall in the range from $500 to $1, 000 with two signatures required for purchases over $1, 000.
  4. The purchasing agent invests in a publicly traded mutual fund that lists the stock of one of the company's suppliers in its portfolio.

Answer(s): A



An internal auditor is reviewing a new automated human resources system. The system contains a table of pay rates which are matched to the employee job classifications. The best control to ensure that the table is updated correctly for only valid pay changes would be to

  1. Limit access to the data table to management and line supervisors who have the authority to determine pay rates.
  2. Require a supervisor in the department, who does not have the ability to change the table, to compare the changes to a signed management authorization.
  3. Ensure that adequate edit and reasonableness checks are built into the automated system.
  4. Require that all pay changes be signed by the employee to verify that the change goes to a bona fide employee.

Answer(s): B



A daily report which lists unsuccessful attempts to log on to a computer system is a

  1. Corrective control.
  2. Preventive control.
  3. Detective control.
  4. Compensating control.

Answer(s): C






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