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IIA CIA Exam Questions
Certified Internal Auditor Exam (Page 64 )

Updated On: 9-Mar-2026
Page 64 of 342
PDF with 1702 Questions

At the conclusion of an audit of an organization's treasury department, a report was issued to the treasurer, chief financial officer, president, and board. Because of the sensitivity of some findings, a followup review was performed. The auditor should provide the report of followup findings to the

I). Treasurer.
II). Chief financial officer.
III). President.
IV). Board.

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

Answer(s): D



Which of the following conditions is the strongest indicator of possible fraud?

  1. An assistant treasurer who refuses to take vacations.
  2. Independent reconciliations of subsidiary to general ledgers that are not always completed on a timely basis.
  3. A condition of excess manufacturing waste material.
  4. A manager who is often over budget at the end of a reporting period.

Answer(s): A



Which sampling plan requires no additional sampling once the first error is found?

  1. Stratified sampling.
  2. Attributes sampling.
  3. Stop or go sampling.
  4. Discovery sampling.

Answer(s): D



Questions used to interrogate individuals suspected of fraud should

  1. Adhere to a predetermined order.
  2. Cover more than one subject or topic.
  3. Move from general to specific.
  4. Direct the individual to a desired answer.

Answer(s): C



An auditor for a major retail company suspects that inventory fraud is occurring at three stores which have high costs of goods sold. Which of the following audit activities would provide the most persuasive evidence that fraud is occurring?

  1. Use an integrated test facility (ITF) to compare individual sales transactions with test transactions submitted through the ITF and investigate all differences.
  2. Interview the three individual store managers to determine if their explanations about the observed differences are the same, and then compare their explanations to that of the section manager.
  3. Schedule a surprise inventory audit to include a physical inventory and investigate areas of inventory shrinkage.
  4. Select a sample of individual store prices and compare them with the sales entered on the cash register for the same items.

Answer(s): C



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