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Free IIA-CIA-Part2 Exam Braindumps (page: 52)

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PDF with 956 Questions

To furnish useful and timely information and promote improvements in operations, internal auditors should provide:

  1. Senior management with reports that emphasize the operational details of defective conditions.
  2. Operating management with reports that emphasize general concerns and risks.
  3. Information in written form before it is discussed with the engagement client.
  4. Reports that meet the expectations of both operational and senior management.

Answer(s): D



An auditor evaluating excessive product rejection rates should investigatE.

  1. Communication between sales and production departments on sales returns.
    II.
    Volume of product sales year-to-date in comparison to prior year-to-date.
    III.
    Changes in credit ratings of customers versus sales to those customers.
    IV.
    Detailed product scrap accounts and accumulations.
  2. I and III only
  3. I and IV only
  4. II, III, and IV only
  5. I, II, III, and IV.

Answer(s): B



Which of the following is the correct ratio to use in calculating the dollar value of the population if the auditor is using ratio estimation?
Number of Items
Audited Value
Carrying Amount
Sample
$500,000
$480,000
Population
3,000
$5,000,000

  1. 0.10
  2. 0.96
  3. 1.04
  4. 10.00

Answer(s): C



During an audit of a major contract, an auditor finds that actual hours and dollars billed are consistently at or near budgeted amounts. This condition is a red flag for which of the following procurement fraud schemes?

  1. Defective pricing.
  2. Cost mischarging.
  3. Fictitious vendor.
  4. Bid rotation.

Answer(s): B






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