[Free] Download New Updated (October 2016) IIA IIA-CIA-Part1 Real Exam 251-260

Ensurepass

QUESTION 251

Which of the following would be the least significant consideration when performing a risk analysis?

 

A.

Financial exposure and potential loss.

B.

Skills available within the audit staff.

C.

Results of prior audits.

D.

Major operating changes.

 

Correct Answer: B

 

 

QUESTION 252

Which of the following reporting relationships re
sults in the greatest impairment to the independence of the chief audit executive (CAE)?

 

A.

The CAE reports administratively and functionally to the president.

B.

The CAE reports administratively to the president and functionally to the board.

C.

The CAE reports administratively to the chief financial officer and functionally to the president.

D.

The CAE reports administratively to the audit committee and functionally to the chief operating officer.

Correct Answer: A

 

 

QUESTION 253

An internal auditor audited a department store’s cash function. Which of the following actions would indicate a lack of due professional care by the auditor?

 

A.

Based on a well-designed system of internal controls over the cash function,the audit report assured senior management that no irregularities existed.

B.

A flowchart of the entire cash function was developed but only samples of transactions were tested.

C.

The audit report included a well-supported recommendation for a reduction in staff even though such a reduction might adversely impact morale.

D.

The auditor informed appropriate authorities within the organization about suspected wrongdoing but did not inform external authorities.

 

Correct Answer: A

 

 

QUESTION 254

A production division received 45 responses to a customer-service survey distributed to 100 purchasing departments randomly selected from all customers who made purchases in the prior 12 months. Which of the following is the most likely reason that the division manager would be concerned about nonresponse bias in this situation?

 

A.

The sample means and standard errors are more difficult to compute.

B.

Those who did not respond may be systematically different from those who did.

C.

The sample size is too small.

D.

Confidence intervals are narrower.

 

Correct Answer: B

 

 

QUESTION 255

A daily log of treasury dealers who exceeded their authorized limits serves as a:

 

A.

Preventive control.

B.

Detective control.

C.

Feed-forward control.

D.

Directive control.

 

Correct Answer: B

 

 

QUESTION 256

Which of the following would provide the best evidence of compliance with an airline’s standard of having aircraft refueled and cleaned within a specified time of arrival at an airport?

 

A.

Vendor fuel invoices that have been reconciled to inventory records.

B.

Time cards completed by aircraft cleaning and fueling crews.

C.

Observation of selected aircraft while they are being refueled and cleaned.

D.

Comparison of the standard hourly labor costs for cleaning and fueling personnel with actual labor charges.

Correct Answer: C

 

 

QUESTION 257

Which of the following actions by the internal audit activity provides strong evidence that it is organizationally independent?

 

A.

It reviews engagement results for evidence of undue influence before releasing the final report.

B.

It requires all internal audit staff to sign annual non-disclosure and potential conflict of interest statements.

C.

It maintains direct interactions with the audit committee or board.

D.

It releases an approved internal audit charter stating that the internal audit activity is independent.

 

Correct Answer: C

 

 

QUESTION 258

The first stage in the development of a crisis management program is to:

 

A.

Formulate contingency plans.

B.

Conduct a risk analysis.

C.

Create a crisis management team.

D.

Practice the response to a crisis.

 

Correct Answer: B

 

 

QUESTION 259

Which of the following would be the best example of a monitoring control for a chain of restaurants?

 

A.

Each restaurant manager reconciles the cash received with the food orders recorded on the computer.

B.

All food orders must be entered through the computer,and there is segregation of duties between the food servers and the cooks.

C.

Corporate management prepares a detailed analysis of gross margin per restaurant and investigates those showing a significantly lower gross margin.

D.

Proof of bank deposit is transmitted to corporate headquarters on a daily basis.

 

Correct Answer: C

 

 

QUESTION 260

In order to use “Conducted in accordance with the International Standards for the Professional Practice of Internal Auditing,” an internal audit activity must:

 

A.

Satisfy all requirements of the International Professional Practices Framework during each internal audit engagement.

B.

Complete an external assessment of quality assurance to demonstrate compliance with the Standards.

C.

Establish a continuous quality assurance and improvement program.

D.

Have its charter reviewed and approved by management and the board.

 

Correct Answer: B

 

Free VCE & PDF File for IIA IIA-CIA-Part1 Real Exam

Instant Access to Free VCE Files: CompTIA | VMware | SAP …
Instant Access to Free PDF Files: CompTIA | VMware | SAP …

This entry was posted in IIA-CIA-Part1 Actual Test (October 2016) and tagged , , , , , , , . Bookmark the permalink.