[Free] Download New Updated (October 2016) IIA IIA-CIA-Part2 Real Exam 41-50

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QUESTION 41

An internal auditor is reviewing a new automated human resources system. The system contains a table of pay rates which are matched to the employee job classifications. The best control to ensure that the table is updated correctly for only valid pay changes would be to:

 

A.

Limit access to the data table to management and line supervisors who have the authority to determine pay rates.

B.

Require a supervisor in the department, who does not have the ability to change the table, to compare the changes to a signed management authorization.

C.

Ensure that adequate edit and reasonableness checks are built into the automated system.

D.

Require that all pay changes be signed by the employee to verify that the change goes to a bona fide employee.

 

Correct Answer: B

 

 

QUESTION 42

Direct staff as a percentage of total staff is an example of which of the following types of efficiency measures?

 

A.

Productivity ratio.

B.

Productivity index.

C.

Operating ratio.

D.

Resource utilization rate.

 

Correct Answer: C

 

 

QUESTION 43

Insurance companies often receive electronic hospitalization claims directly from hospitals. Which of the following control procedures would be most effective in detecting fraud in such an environment?

 

A.

Use integrated test facilities to test the accuracy of processing in a manner that is transparent to data processing.

B.

Develop monitoring programs to identify unusual types of claims or an unusual number of claims by demographic class for investigation by the claims department.

C.

Use generalized audit software to match the claimant identification number with a master list of valid policyholders.

D.

Develop batch controls over all items received from a particular hospital and process those claims in batches.

 

Correct Answer: B

 

 

QUESTION 44

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 45

Which of the following is an example of the verification of internal documentary evidence?

 

A.

Reviewing a carrier’s bill of lading.

B.

Reconciling a vendor’s month-end statement.

C.

Vouching a copy of a sales invoice to receivables.

D.

Recalculating a customer’s purchase order.

 

Correct Answer: C

 

 

QUESTION 46

According to the International Professional Practices Framework, which of the following statements is correct regarding the communication of audit results?

 

I. Summary reports may be issued separately from or in conjunction with the final report.

 

II. Interim reports may be written or oral.

 

III. Detailed reports should always be issued to the audit committee.

 

IV. Interim reports should be used to communicate information which requires immediate attention.

 

A.

I and III only

B.

II and IV only

C.

I, II, and IV only

D.

I, II, III, and IV.

 

Correct Answer: C

 

 

QUESTION 47

Given the scarcity of internal audit resources, a chief audit executive (CAE) decided not to schedule a follow-up of audit recommendations when developing engagement work schedules. Does the CAE’s decision violate the Standards?

 

A.

No, because the Standards do not specify whether follow-up is needed.

B.

No, because when there is evidence of sufficient motivation by the client, there is no need for follow-up action.

C.

Yes, because scarcity of resources is not a sufficient reason to omit follow-up action.

D.

Yes, because the Standards require the auditors to determine whether the client has appropriately implemented all of the auditor’s recommendations.

 

Correct Answer: C

 

 

QUESTION 48

Which of the following would be most helpful to a governmental auditor searching for the existence of multiple welfare claims that were filed under different names but used the same address?

 

A.

Tagging and tracing.

B.

Generalized audit software.

C.

Integrated test facility.

D.

Spreadsheet analysis.

 

Correct Answer: B

 

 

QUESTION 49

Which of the following is a weakness that is inherent in the use of the test data method to test internal controls in a computer-based accounting system?

 

A.

The auditor must test many transactions with the same condition in order to achieve assurance that the condition is being detected.

B.

Conditions that were not specifically considered by the auditor may go untested.

C.

The approach requires the creation of “dummy companies,” possibly destroying or altering actual company data in the process.

D.

Inclusion of atypical data in the test data may cause errors to be noted on the exception report.

 

Correct Answer: B

 

 

QUESTION 50

Which sampling plan requires no additional sampling once the first error is found?

 

A.

Stratified sampling.

B.

Attributes sampling.

C.

Stop-or-go sampling.

D.

Discovery sampling.

 

Correct Answer: D

 

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