[2022] Verified IIA-CIA-Part1 Dumps Q&As – 1 Year Free & Quickly Updates [Q70-Q88]

Q70. An organization’s sales professionals are potentially abusing the use of cellular phones, resulting in an alarming increase in telephone expenses. Which of the following controls is least likely to curb this abuse?

Q71. Which of the following statements is correct regarding corporate compensation systems and related bonuses?
I.A bonus system should be considered part of the control environment of an organization and should be considered in formulating a report on internal control.
II.
Compensation systems are not part of an organization’s control system and should not be reported as such.
III.
An audit of an organization’s compensation system should be performed independently of
an audit of the control system over other functions that impact corporate bonuses.

Q72. Which of the following statements best explains why internal auditors map processes?
1. To obtain audit evidence to support auditor’s observations.
2. To determine scope and objectives of the audit.
3. To facilitate the identification of ownership and responsibility for key risks.
4. To identify potential efficiency improvements.

Q73. According to IIA guidance, which of the following statements about working papers is false?

Q74. The work papers for an audit of hazardous-materials handling and disposal at an engineering research facility provide evidence that the following procedures were performeD.
– Drums of hazardous waste not yet shipped off-site were inventoried. The physical count agreed with the company’s inventory records. – A sample of hazardous-waste shipments received at the disposal site was compared to bills of lading and company records. No errors were detected. – The audit staff observed engineering personnel during the handling of hazardous materials. No company policy violations were noted.
The reconciliation of waste drums to the inventory records provides evidence that:

Q75. An auditor plans to analyze customer satisfaction, including: (1) customer complaints recorded by the customer service department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a survey of customers who made purchases in the last three months. Which of the following statements regarding this audit approach is correct?

Q76. An internal auditor is designing a sampling plan to test the accuracy of daily production reports over the past three years. All of the reports contain the same information except that Friday reports also contain weekly totals and are prepared by managers rather than by supervisors. Production normally peaks near the end of a month. If the auditor wants to select two reports per month using an interval sampling plan, which of the following techniques reduces the likelihood of bias in the sample?

Q77. According to IIA guidance, which of the following is the best example of a system application control?

Q78. Internal auditors can benefit from a strong relationship with the external auditors because external auditors can:

Q79. Which of the following is not a benefit of using information technology in solving audit problems?

Q80. The chief audit executive (CAE) wants to ensure that there are sufficient resources available to fulfill the responsibilities of the internal audit activity in the coming year. Which statement describes the most logical sequence of events for the CAE to undertake in order to achieve this objective?

Q81. Which of the following is not a typical objective of any training plan developed for internal audit activity staff?

Q82. To enhance the independence of both the internal and external audit functions, audit committees should be composed of:

Q83. According to the International Professional Practices Framework, risk is:
I. Defined as the negative effect of events that are expected to occur.
II. Measured in terms of consequences.
III. Measured in terms of likelihood.

Q84. An organization has a policy requiring two signatures on all checks written for amounts in excess of $10, 000. When evaluating controls over disbursements, an auditor would conclude that a greater risk exists if.

Q85. Which of the following measurements could an auditor use in an audit of the efficiency of a motor vehicle inspection facility?

Q86. An internal auditor pays to participate in the company’s annual golf tournament, which is held outside of normal business hours. The auditor wins the putting contest and is awarded an all-expense-paid weekend vacation. According to the IIA Code of Ethics regarding objectivity, the auditor’s best course of action would be to:

Q87. Which of the following statements is not true?

Q88. According to IIA guidance, which of the following best describes acceptable methods for internal auditors to obtain qualified continuing professional education hours?