[Free] Download New Updated (October 2016) IIA IIA-CIA-Part2 Real Exam 171-180

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QUESTION 171

Once an audit report is drafted, the auditor’s supervisor should review it primarily to ensure that all:

 

A.

Statements are supported and can be authenticated.

B.

Recommendations for corrective action are clear.

C.

Processes within the audited area were reviewed.

D.

Sample sizes appear appropriate for any issues found.

 

Correct Answer: A

 

 

QUESTION 172

All of the following tools are employed to control large-scale projects except:

 

A.

Program evaluation and review technique (PERT).

B.

Critical path method.

C.

Statistical process control.

D.

Gantt charts.

 

Correct Answer: C

 

 

QUESTION 173

An internal auditor has a recommendation to change operations which could potentially increase profits by $50,000. The best way to sell this recommendation to management is to:

 

A.

Carefully work out the details of implementation before presenting it to department management.

B.

Discuss it with operating supervisors who are directly affected by the change, and then with department management.

C.

Bring it to the audit manager, who should bring it immediately to senior management’s attention.

D.

Wait until the exit conference to discuss it in order to ensure all affected parties are present.

 

Correct Answer: B

QUESTION 174

What decision-making approach should a facilitator initiate if a group addresses an unfamiliar situation during a control self-assessment session?

 

A.

Spontaneous agreement.

B.

Consensus building.

C.

Majority voting.

D.

Compromise.

 

Correct Answer: B

 

 

QUESTION 175

When conducting audit follow-up of a finding related to cash management routines, an internal auditor would expect to find that all of the following changes have occurred except:

 

A.

The steps being taken are resolving the condition disclosed by the finding.

B.

Inherent risk has been eliminated as a result of resolution of the condition.

C.

Controls have been implemented to deter or detect a recurrence of the finding.

D.

Benefits have accrued to the entity as a result of resolving the condition.

 

Correct Answer: B

 

 

QUESTION 176

The following are potential sources of evidence regarding the effectiveness of a division’s total quality management program. The least persuasive evidence would be a comparison oF.

 

A.

Employee morale before and after program implementation.

B.

Scrap and rework costs before and after program implementation.

C.

Customer returns before and after program implementation.

D.

Manufacturing and distribution costs per unit before and after program implementation.

 

Correct Answer: A

 

 

QUESTION 177

A key to effective benchmarking in a consulting engagement is identifying the issues that can be:

 

A.

Reviewed by all internal audit staff members.

B.

Shared with all internal audit customers.

C.

Measured and controlled by the engagement client.

D.

Discussed with the board or audit committee.

 

Correct Answer: C

 

 

QUESTION 178

Which of the following conclusions would be appropriate for a beginning auditor performing an audit of a payroll department?

 

A.

Employee taxes have been deducted at the correct rates, and the taxes have been forwarded to the appropriate government agency.

B.

Although there is insufficient segregation of duties, the impact is mitigated by compensating controls.

C.

The payroll computer system should be replaced.

D.

The payroll department staff has the appropriate level of skills.

 

Correct Answer: A

 

 

QUESTION 179

After completing a fraud investigation but before publishing a formal written report, the chief audit executive should submit a draft of the final report to the organization’s:

 

A.

Legal counsel.

B.

External auditor.

C.

Audit committee chairperson.

D.

Chief executive officer.

 

Correct Answer: A

 

 

QUESTION 180

A recent survey indicated that residents of a small town take the train to a nearby city eight times per month, on average. The same survey showed that the number of train trips that a resident takes per month (y) is determined by the number of days per month that the resident works in the nearby city (x), according to the equation: y = 2 + 2x. A person who never works in the nearby city is expected to take the train:

 

A.

Zero times per month.

B.

Two times per month.

C.

Four times per month.

D.

Eight times per month.

 

Correct Answer: B

 

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