QUESTION: 201 Exam Topic: 3, Volume C

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

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

Answer(s): D

Reveal Solution Next Question

QUESTION: 202 Exam Topic: 3, Volume C

An auditor evaluating excessive product rejection rates should investigatE.

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.
I and III only
I and IV only
II, III, and IV only
I, II, III, and IV.

Answer(s): B

Reveal Solution Next Question

QUESTION: 203 Exam Topic: 3, Volume C

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

0.10
0.96
1.04
10.00

Answer(s): C

Reveal Solution Next Question

QUESTION: 204 Exam Topic: 3, Volume 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?

Defective pricing.
Cost mischarging.
Fictitious vendor.
Bid rotation.

Answer(s): B

Reveal Solution Next Question

Free IIA-CIA-Part2 Exam Braindumps (page: 51)

QUESTION: 201 Exam Topic: 3, Volume C

QUESTION: 202 Exam Topic: 3, Volume C

QUESTION: 203 Exam Topic: 3, Volume C

QUESTION: 204 Exam Topic: 3, Volume C