Free IIA-CIA-Part2 Exam Braindumps (page: 15)

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What is the most important risk in determining the validity of construction delay claims?

  1. Contractor claims may be submitted prior to completion of the work.
  2. Contractor claims may include costs considered in the fixed-price portion of the work.
  3. Contractor claims may include subcontractor estimates of balances due to the subcontractor.
  4. Contractor claims may be understated.

Answer(s): B



During an audit of a branch bank, an internal auditor learned that a series of system failures had resulted in a four-day delay in processing customers' scheduled payroll direct deposits. The first failure was that of a disk drive, followed by software and other minor failures. Which of the following controls should the auditor recommend to avoid similar delays in processing?

  1. Contingency planning.
  2. Redundancy checks.
  3. Process monitoring.
  4. Preventive maintenance.

Answer(s): A



An auditor analyzed a payroll system's data files for unusual activity, such as excessive overtime hours, unusual fluctuations in pay rates, and excessive vacation time. The application controls being verified by this analysis are:

  1. Edit and validation controls.
  2. Rejected and suspense item controls.
  3. Controls over update access to the database.
  4. Programmed balancing controls.

Answer(s): A



During the development of a purchasing system, an auditor reviewed the payment authorization program. Which of the following actions should the auditor recommend for a situation in which the quantity invoiced is greater than the quantity received?

  1. Issue an exception report.
  2. Pay the amount billed and adjust the inventory account for the difference.
  3. Return the invoice to the vendor for correction.
  4. Authorize payment of the full invoice, but maintain an open purchase order record for the missing goods.

Answer(s): A



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ET commented on August 19, 2024
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