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IIA IIA-CIA-Part1 Exam
CIA Part 1 - Essentials of Internal Auditing (Page 16 )

Updated On: 1-Feb-2026
Page 16 of 115
PDF with 1175 Questions

Which source of audit evidence would provide the least value in flowcharting an organization's purchasing process?

  1. An interview with the purchasing supervisor.
  2. A review of a sample of purchase orders which were completed during the last month.
  3. A review of the purchasing policies and procedures manual.
  4. A walk-through of the process with a member of the purchasing staff.

Answer(s): B



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



Which of the following is a benefit from reduced testing during a particular phase of an audit engagement?

  1. The size of the internal audit activity can be reduced.
  2. There is less concern about assessing inherent risk.
  3. The level of planned audit risk is lowered.
  4. Additional audit hours are available for pursuing other engagement objectives.

Answer(s): D



Which of the following would be the least desirable criteria against which to judge current operations of a company's treasury function?

  1. The operations of the treasury function as documented during the last audit engagement.
  2. Company policies and procedures delegating authority and assigning responsibilities.
  3. Finance textbook illustrations of generally accepted good treasury function practices.
  4. Codification of best practices of the treasury function in relevant industries.

Answer(s): A



A bakery chain has a statistical model that can be used to predict daily sales at individual stores based on a direct relationship to the cost of ingredients used and an inverse relationship to rainy days. What conditions would an auditor look for as an indicator of employee theft of food from a specific store?

  1. On a rainy day,total sales are greater than expected when compared to the cost of ingredients used.
  2. On a sunny day,total sales are less than expected when compared to the cost of ingredients used.
  3. Both total sales and cost of ingredients used are greater than expected.
  4. Both total sales and cost of ingredients used are less than expected.

Answer(s): B



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