Free IIA IIA-CIA-Part1 Exam Dumps and IIA-CIA-Part1 Exam Questions

Question No: 21

MultipleChoice

An electrician visits a client to assess the scope of work. After the visit, the sales office compiles and sends the client a proposal based on the electrician's estimation and approved price list. The internal auditor notices that in the last six months, the number of cancelled proposals has increased substantially. Which of the following is a fraud risk scenario that the auditor should consider in this situation?

Options

ASome electricians may be offering clients opportunities for reduced fees if they pay with cash.

BThere is a new competitor in the area who offers better prices.

CSales representatives may be manipulating the proposals to include additional costs.

DAn unauthorized person may be modifying client data and cancelling the proposals.

Question No: 22

MultipleChoice

Which of the following is a consulting service the internal audit activity can perform with respect to the organization's risk management'?

Options

ADelivering assurance on the risk management system

BFacilitating risk assessment workshops

CEvaluating principal risk reporting

DDeciding on the appropriate risk response

Question No: 23

MultipleChoice

The management team of an agricultural organization has prioritized corporate social responsibility (CSR) initiatives. Which of the following would be considered a CSR activity'?

Options

AOffering a one-off donation to an environmental charity for its expansion efforts

BOrganizing organization volunteers to provide periodic plantation skill sharing to farmers

CProviding special year-end monetary bonuses to the organization's employees at all levels

DArranging a free-of-charge picnic for all of the organization's employees and their family members

Question No: 24

MultipleChoice

Which of the following is a typical characteristic of an organization's risk management framework*?

Options

ARisk tolerance may or may not align with risk appetite depending on whether the assessment is quantitative or qualitative

BRisk is assessed on both an inherent and a residual basis

CThe framework addresses four organizational objective categories strategic, historical, operational, and investment

DExternal risks and internal opportunities are omitted from the risk assessment scope

Question No: 25

MultipleChoice

Which of the following is the best example of an ongoing independent monitoring activity'?

Options

AManagement quality assurance activities

BInternal audit fraud prevention and detection activities

CManagement and supervisory activities

DExternal audit quality assurance activities

Question No: 26

MultipleChoice

An internal auditor was assigned to work in the procurement department for six months to gam m-depth knowledge about the procurement process Which of the following personnel development practices was applied in this situation?

Options

ACosourcing

BInbound rotation

CGuest auditor

DOutbound rotation

Question No: 27

MultipleChoice

According to NA guidance, which of the following corporate sociaf responsibility (CSR) evaluation activities may be performed by

the internal audit activity?

1. Consult on CSR program design and implementation.

2. Serve as an advisor on CSR governance and risk management.

3. Review third parties for contractual compliance with CSR terms.

4. Identify and mitigate risks to help meet the CSR program objectives.

Options

A1,2, and 3,

B1 2, and 4.

C1, 3, and 4.

D2, 3, and 4.

Question No: 28

MultipleChoice

Why is a code of ethics for the internal audit profession necessary?

Options

AIt ensures that all members of the profession possess the same level of competence.

BIt provides auditors with protection from lawsuits.

CIt guides internal auditors in their service to others.

DIt requires auditors to exhibit loyalty to their organizations.

Question No: 29

MultipleChoice

Which of the following best ensures an internal audit activity has the ability to render impartial and unbiased assessments?

Options

AOrganizational status and objectivity.

BSupervision of the chief audit executive (CAE) by senior management.

COrganizational knowledge and skills.

DCAE certification.

Question No: 30

MultipleChoice

An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IA

Options

AWhich of the following also should be included in the charter?

AThe purpose of the IAA.

BThe IAA's right to have unrestricted access to functions, records, personnel, and physical property.

CA detailed audit plan or program for the year.

DThe job specifications and descriptions of the internal audit staff.

Free IIA-CIA-Part1 Exam Dumps