IIA-CIA-Part1 Practice Test & Exam Questions (Page 19 )

In order to exercise due professional care as defined in the International Professional Practices Framework, an internal auditor should:

Consider the probability of significant noncompliance in each audit engagement.
II. Perform assurance procedures with sufficient care to ensure that all risks are identified.
III. Weigh the cost of assurance against the benefits.
I and IIonly
I and IIIonly
II and IIIonly
I,II,and III.

Answer(s): B

In developing an appropriate work program for an audit engagement, the most important factor for an audit supervisor to consider is the:

Answer(s): B

Organizations that use a highly structured command-and-control management approach are at greater risk of:

Delayed response due to the inability to reach consensus among decision makers.
Negative consequences that result from lower-level staff's unwillingness to confront errors by superiors.
Erosion of staff morale due to perceptions of ineffective leadership.
Waste and abuse of organizational resources resulting from management override of controls.

Answer(s): B

In order to provide the most useful information for an organization's risk management decisions, which of the following should be assessed?

Risk levels for future events based on the degree of uncertainty of those events and their cost of mitigation.
Inherent and control risks and their impact on the extent of financial misstatements.
Risk levels of current and future events,their effect on the achievement of the organization's objectives,and their underlying causes.
Risk levels of current and future events,their impact on the organization's mission,and the potential for the elimination of existing risk factors.

Answer(s): C

Which of the following represents the most effective governance structure?

Answer(s): A

IIA IIA-CIA-Part1 Exam
CIA Part 1 - Essentials of Internal Auditing (Page 19 )