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Free IIA CIA Exam Braindumps (page: 48)

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PDF with 1702 Questions

Which of the following actions would be considered a violation of the Standards?

I). Drafts of engagement communications were reviewed with the audit client to obtain input. The client's comments were considered when developing the engagement final communication.
II). An auditor participated as part of a development team to review the control procedures to be incorporated into a major computer application under development.
III). Given limited resources, the chief audit executive performed a risk analysis to determine which functions to audit.

  1. II only.
  2. I and III only.
  3. I, II, and III.
  4. None of the above.

Answer(s): D



In an assurance engagement of treasury operations, an internal auditor is required to consider all of the following issues except

  1. The audit committee has requested assurance on the treasury department's compliance with a new policy on the use of financial instruments.
  2. Treasury management has not instituted any risk management policies.
  3. Due to the recent sale of a division, the amount of cash and marketable securities managed by the treasury department has increased by 350 percent.
  4. The external auditors have indicated some difficulties in obtaining account confirmations.

Answer(s): D



Internal auditors exercise judgment about the type and amount of information to be collected. The primary purpose of this judgment is to

  1. Eliminate the risk of drawing incorrect conclusions.
  2. Minimize the cost of the audit engagement.
  3. Comply with the Standards.
  4. Provide a sound basis for audit observations and recommendations.

Answer(s): D



According to the International Professional Practices Framework, a review team must express an opinion on which of the following when performing an external assessment of an internal audit activity?

I). Conformance with the Standards and Code of Ethics.
II). Effectiveness of continuous improvement activities.
III). Feedback from internal audit customers and other stakeholder groups.
IV). Efficiency and effectiveness of the internal audit activity's administration processes.

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

Answer(s): A






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