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Free IIA CIA Exam Braindumps (page: 84)

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PDF with 1702 Questions

A company owns a machine that will produce 100 light switches in four hours. Due to increased demand, a second machine capable of producing 100 light switches in three hours has been added. Approximately how many hours will it take to produce 100 light switches using both machines working together?

  1. 7.0
  2. 3.5
  3. 1.7
  4. 0.58

Answer(s): C



Which of the following are reasons to involve employees in the control self assessment process?

I). Employees become more motivated to do their jobs correctly.
II). Employees are objective about their jobs.
III). Employees can provide an independent assessment of internal controls.
IV). Employees provide management with valuable information.

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

Answer(s): B



Which of the following would provide the greatest assurance of the accuracy of a computer program's computation of freight charges for catalog sales?

  1. Use discovery sampling, selecting transactions from invoices which should have freight charges added to them.
  2. Use either test data or parallel simulation to test the computer application.
  3. Use difference estimation, selecting transactions from invoices which should have freight charges added to them.
  4. Use generalized audit software to select a monetary unit sample of invoices that have been billed to customers.

Answer(s): B



An auditor has been assigned to audit the computerized inventory records as part of an audit of production activities. It would be most appropriate to use a generalized audit software package to

  1. Assess the processing accuracy of the update program in posting transactions to the inventory master file.
  2. Evaluate the adequacy of internal controls embedded in the computer program.
  3. Substantiate the data entries from terminals located in the production department.
  4. Verify the accuracy of the extensions and summations of inventory balances.

Answer(s): D






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