[Free] Download New Updated (October 2016) IIA IIA-CIA-Part2 Real Exam 341-350

Ensurepass

QUESTION 341

Which of the following tasks is typically performed in the analysis phase of a benchmarking consulting engagement?

 

A.

Identifying business capabilities.

B.

Developing data collection tools.

C.

Determining benchmarked process attributes.

D.

Determining sample size.

 

Correct Answer: C

 

 

QUESTION 342

Which of the following woul
d be an appropriate role of the internal audit function?

 

A.

Determine the consequences for ethics violations.

B.

Be responsible for the management of a whistle blowing hotline.

C.

Establish the ethics policies for the organization.

D.

Evaluate the effectiveness of the organization’s ethics-related activities.

 

Correct Answer: D

 

 

QUESTION 343

An organization has an opening for an entry-level internal audit position. When interviewing for the position, which of the following is the least important skill for an entry-level internal auditor?

 

A.

Conflict resolution skills.

B.

Communication skills.

C.

Time management skills.

D.

Interpersonal skills.

 

Correct Answer: A

 

 

QUESTION 344

According to the Standards, which of the following should be the basis for scheduling follow-up of engagement recommendations?

 

A.

The follow-up manual procedures.

B.

The internal audit charter.

C.

The agreement made between internal auditors and management.

D.

The risks and exposures involved.

 

Correct Answer: D

 

 

QUESTION 345

Which of the following is the least relevant when preparing the internal audit activity’s annual engagement plan?

 

A.

Senior management’s requests for internal audit engagements.

B.

A rotation of internal audit engagements selected on a time basis.

C.

The organization’s current risk priority and exposure.

D.

Coordination with the audit plans of the external auditor.

 

Correct Answer: B

 

 

QUESTION 346

An internal auditor was assigned to conduct an inventory control and stock room area engagement. During the audit, the auditor observed that there were some items that have a shelf life expiration date requirement based on a certificate of conformance received with the product. The certificates of conformance are kept on file in the inventory area office and the expiration date is verified at the time the item is taken from stock. The auditor reviewed the items in the stock room and also on the production floor for the expiration dates to see if there was any expired product. All items with a shelf life requirement were found to be within the expiration date requirement. Which of the following recommendations would be appropriate?

 

A.

Take no action, because all the items were within the expi
ration date requirement, and no corrective action is needed.

B.

Permit production staff the access to files where the certificates of conformity are kept, so they can choose the items with the closest expiration date.

C.

Determine the cost of inventory for the items that have a shelf life and apply a new policy regarding inventory levels to be maintained (i.e., minimums, maximums, reorder points etc.).

D.

Add to the product label a “use by date” line, enter the expiration at the time of receipt, and perform periodic inventory checks.

 

Correct Answer: D

 

 

QUESTION 347

Which of the following statements is correct regarding the use of a program evaluation and review technique (PERT) model?

 

1. It makes use of a probability model to arrive at a realistic estimate of time necessary for completion of the audit engagement.

 

2. It requires that activities are performed in sequence such that each task is completed before the commencement of the next activity.

 

3. It remains fixed once completed to act as a baseline for measuring the performance of the audit staff following completion of the engagement.

 

4. It begins with the auditor-in-charge identifying the overall scope and then breaking down the audit engagement into identifiable activity units.

 

A.

1 and 3 only

B.

1 and 4 only

C.

2 and 3 only

D.

2 and 4 only

 

Correct Answer: B

 

 

 

 

QUESTION 348

When approving the final engagement report, which of the following is most critical?

 

A.

Opinions are adequately supported.

B.

Conclusions are reached for all objectives.

C.

Report is distributed to appropriate parties.

D.

Report is clear and concise.

 

Correct Answer: A

 

 

QUESTION 349

According to the Standards, which of the following would have the least direct interest in the draft report of a compliance review of the purchasing function?

 

A.

Purchasing staff.

B.

Purchasing manager.

C.

Director of finance.

D.

Audit committee.

 

Correct Answer: D

 

 

QUESTION 350

Which of the following would be the most important reason for the chief audit executive (CAE) to use inputs from management strategy to update the audit universe?

 

A.

The audit charter requires the CAE to update the audit universe before embarking on the selection of potential audit engagements.

B.

The CAE wants to consider the organization’s strategic plan including attitude toward risk and the degree of difficulty to achieving planned objectives.

C.

The CAE wants to cover management planned activities for the upcoming year in the audit plan.

D.

The CAE wants to determine internal audit resourcing requirements to cover the organization’s major processes and activities over time.

 

Correct Answer: B

 

Free VCE & PDF File for IIA IIA-CIA-Part2 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-Part2 Actual Test (October 2016) and tagged , , , , , , , . Bookmark the permalink.