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IIA IIA-CIA-Part1 Exam
CIA Part 1 - Essentials of Internal Auditing (Page 18 )

Updated On: 1-Feb-2026
Page 18 of 115
PDF with 1175 Questions

In order to save time, an audit manager no longer required that a standard internal control questionnaire be completed for each audit engagement. Does this represent a violation of the Standards?

  1. Yes,because internal control should be evaluated on every engagement and the internal control questionnaire is the mandated approach to evaluate controls.
  2. Yes,because internal control should be evaluated on every engagement and the internal control questionnaire is the most efficient method to do so.
  3. No,because auditors may omit necessary procedures if there is a time constraint,based on audit judgment.
  4. No,because auditors are not required to complete internal control questionnaires on every engagement.

Answer(s): D



The primary reason that a bank would maintain a separate compliance function is to:

  1. Better manage perceived high risks.
  2. Strengthen controls over the bank's investments.
  3. Ensure the independence of line and senior management.
  4. Better respond to shareholder expectations.

Answer(s): A



Which of the following would be the most useful in developing an annual audit plan?

  1. General purpose audit software.
  2. Voting software and hardware.
  3. Flowcharting and data capture software.
  4. Risk assessment software.

Answer(s): D



Which of the following is not an appropriate control related to sales in a manufacturing company?

  1. Customers' orders are recorded promptly.
  2. Goods shipped are matched with valid customer orders.
  3. Goods returned are inspected for damage by the sales department and then entered into inventory.
  4. Credit department approval is required for credit sales transactions.

Answer(s): C



Inadequate risk assessment would have the strongest negative impact in which of the following phases of an audit engagement?

  1. Determining the scope.
  2. Reviewing internal controls.
  3. Testing.
  4. Evaluating findings.

Answer(s): A



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