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Free IIA CIA Exam Braindumps (page: 73)

Page 73 of 427
PDF with 1702 Questions

What decision-making approach should a facilitator initiate if a group addresses an unfamiliar situation during a control self-assessment session?

  1. Spontaneous agreement.
  2. Consensus building.
  3. Majority voting.
  4. Compromise.

Answer(s): B



A trucking company contracted a third party to construct a new vehicle maintenance facility. One of the trucking company's auditors was assigned to look for contractor overcharges. After reviewing the contract, the auditor recommended that an audit of the construction contract not be performed. What is the most likely reason for the auditor's recommendation?

  1. The contract did not include a right to audit clause.
  2. The contractor was engaged on a fixed price basis.
  3. The contractor's billing system included comprehensive edit routines to detect overbilling.
  4. The trucking company's accounts payable system compared amounts billed with contract terms to detect potential overcharges.

Answer(s): B



A chief audit executive agrees to conduct an engagement that will focus on customers' perceptions of the quality of the organization's products and services. Which of the following issues should be addressed first?

  1. Cost effectiveness.
  2. Quality control.
  3. Customer complaints.
  4. Supplier deliveries.

Answer(s): C



An internal auditor is concerned that a division's management may have shipped poor quality merchandise in order to inflate sales and thereby boost the division manager's bonus. Furthermore, the auditor suspects that returned goods are being shipped to other customers as new products before defects are fully corrected. Which of the following audit procedures would be least effective in determining whether such shipments took place?

  1. Examine credit memos issued after year end for goods shipped before year end.
  2. Physically observe the shipping and receiving area for evidence of returned goods.
  3. Interview customer service representatives regarding unusual numbers of customer
    complaints.
  4. Require the division to take a complete physical inventory at year end, and observe the taking of the inventory.

Answer(s): D






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