{"id":107048,"date":"2025-08-02T03:25:08","date_gmt":"2025-08-02T03:25:08","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=107048"},"modified":"2025-08-13T08:27:02","modified_gmt":"2025-08-13T08:27:02","slug":"iia-cia-part2-exam-dumps-v18-03-for-internal-audit-engagement-exam-preparation-start-reading-iia-cia-part2-free-dumps-part-1-q1-q40-first","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/iia-cia-part2-exam-dumps-v18-03-for-internal-audit-engagement-exam-preparation-start-reading-iia-cia-part2-free-dumps-part-1-q1-q40-first.html","title":{"rendered":"IIA-CIA-Part2 Exam Dumps (V18.03) for Internal Audit Engagement Exam Preparation: Start Reading IIA-CIA-Part2 Free Dumps (Part 1, Q1-Q40) First"},"content":{"rendered":"<p>When choosing a standard and popular path to complete your <a href=\"https:\/\/www.dumpsbase.com\/certified-internal.html\"><em>IIA Internal Audit (CIA) certification<\/em><\/a>, you must pass three exams, which have been renamed as below:<\/p>\n<ul>\n<li>IIA-CIA-Part1 Internal Audit Fundamentals<\/li>\n<li>IIA-CIA-Part2 Internal Audit Engagement<\/li>\n<li>IIA-CIA-Part3 Internal Audit Function<\/li>\n<\/ul>\n<p>We ensure that you are fully prepared for the CIA certification exams by using the latest dumps. Recently, we have updated the IIA-CIA-Part2 dumps to V18.03 with 499 questions and answers. We deliver exceptional services on the most updated dumps, ensuring complete client satisfaction, and our experts are ready to help you excel in the IIA-CIA-Part2 exam with outstanding grades. Accomplish all CIA Internal Audit Engagement certification objectives with the guidance of our comprehensive IIA-CIA-Part2 dumps (V18.03).<\/p>\n<p><!-- notionvc: cc205498-0211-4abe-853e-c9d1df434e6b --><\/p>\n<h2>Start reading the <span style=\"background-color: #ccffff;\"><em>IIA-CIA-Part2 free dumps (Part 1, Q1-Q40) of V18.03 below<\/em><\/span> to check the quality:<\/h2>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam10528\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-10528\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-10528\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-416576'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>The chief audit executive (CAE) should determine whether the internal audit activity has confirmed the status of all of management's corrective actions Doing so would help the CAE assess which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='416576' \/><input type='hidden' id='answerType416576' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416576[]' id='answer-id-1613872' class='answer   answerof-416576 ' value='1613872'   \/><label for='answer-id-1613872' id='answer-label-1613872' class=' answer'><span>Disclosure risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416576[]' id='answer-id-1613873' class='answer   answerof-416576 ' value='1613873'   \/><label for='answer-id-1613873' id='answer-label-1613873' class=' answer'><span>Residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416576[]' id='answer-id-1613874' class='answer   answerof-416576 ' value='1613874'   \/><label for='answer-id-1613874' id='answer-label-1613874' class=' answer'><span>Compliance risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416576[]' id='answer-id-1613875' class='answer   answerof-416576 ' value='1613875'   \/><label for='answer-id-1613875' id='answer-label-1613875' class=' answer'><span>Inherent risk<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-416577'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>An organization buys crude oil on the open market and refines it into a high-quality gasoline. The price of crude oil is extremely volatile. <br \/>\r<br>Which of the following is the most appropriate risk management technique to protect the organization against these price fluctuations?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='416577' \/><input type='hidden' id='answerType416577' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416577[]' id='answer-id-1613876' class='answer   answerof-416577 ' value='1613876'   \/><label for='answer-id-1613876' id='answer-label-1613876' class=' answer'><span>Enter into long-term gasoline purchase agreements with end customers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416577[]' id='answer-id-1613877' class='answer   answerof-416577 ' value='1613877'   \/><label for='answer-id-1613877' id='answer-label-1613877' class=' answer'><span>Trade crude oil derivatives at financial markets in order to benefit from price fluctuations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416577[]' id='answer-id-1613878' class='answer   answerof-416577 ' value='1613878'   \/><label for='answer-id-1613878' id='answer-label-1613878' class=' answer'><span>Purchase crude oil-related derivatives such as futures or options<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416577[]' id='answer-id-1613879' class='answer   answerof-416577 ' value='1613879'   \/><label for='answer-id-1613879' id='answer-label-1613879' class=' answer'><span>Stock as much raw materials as possible and consider Investing into additional facilities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-416578'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>An organization has a health and safety division that conducts audits to meet regulatory requirements. The chief health and safety officer reports directly to the CEO. <br \/>\r<br>Which of the following describes an appropriate role for the chief audit executive (CAE) with regard to the organization's health and safety program?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='416578' \/><input type='hidden' id='answerType416578' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416578[]' id='answer-id-1613880' class='answer   answerof-416578 ' value='1613880'   \/><label for='answer-id-1613880' id='answer-label-1613880' class=' answer'><span>The CAE has no role to play, because the chief health and safety officer reports to a senior executive.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416578[]' id='answer-id-1613881' class='answer   answerof-416578 ' value='1613881'   \/><label for='answer-id-1613881' id='answer-label-1613881' class=' answer'><span>The CAE should coordinate with, and review the work of, the chief health and safety officer to gain an understanding of whether risks related to health and safety are managed properly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416578[]' id='answer-id-1613882' class='answer   answerof-416578 ' value='1613882'   \/><label for='answer-id-1613882' id='answer-label-1613882' class=' answer'><span>The CAE should give periodic reports directly to the regulator regarding health and safety issues, as it is the appropriate regulatory oversight body.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416578[]' id='answer-id-1613883' class='answer   answerof-416578 ' value='1613883'   \/><label for='answer-id-1613883' id='answer-label-1613883' class=' answer'><span>The CAE should hire an independent external specialist to conduct an annual assessment and provide assurance over the effectiveness of the health and safety program and the reliability of its reports.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-416579'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>An internal auditor is preparing for an auditor of newly implemented software that is used by 3,000 employees in South America and Europe. <br \/>\r<br>What would be the best way for the auditor to gather relevant feedback?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='416579' \/><input type='hidden' id='answerType416579' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416579[]' id='answer-id-1613884' class='answer   answerof-416579 ' value='1613884'   \/><label for='answer-id-1613884' id='answer-label-1613884' class=' answer'><span>interview IT management in both regions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416579[]' id='answer-id-1613885' class='answer   answerof-416579 ' value='1613885'   \/><label for='answer-id-1613885' id='answer-label-1613885' class=' answer'><span>Inspect regional user software training records<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416579[]' id='answer-id-1613886' class='answer   answerof-416579 ' value='1613886'   \/><label for='answer-id-1613886' id='answer-label-1613886' class=' answer'><span>Interview propel management and the vendor responsible for implementation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416579[]' id='answer-id-1613887' class='answer   answerof-416579 ' value='1613887'   \/><label for='answer-id-1613887' id='answer-label-1613887' class=' answer'><span>Distribute surveys to software users in both regions<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-416580'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>'Internal policy prohibits employees from entering into contacts with financial obligations without proper approval. <br \/>\r<br>A project manager signed a change to an important service agreement without obtaining the proper approval As a result the organization is receiving $5,000 per month less for its services.\u2019\u2019 <br \/>\r<br>Which of the following should be added to the observation?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='416580' \/><input type='hidden' id='answerType416580' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416580[]' id='answer-id-1613888' class='answer   answerof-416580 ' value='1613888'   \/><label for='answer-id-1613888' id='answer-label-1613888' class=' answer'><span>The reason for not following the internal policy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416580[]' id='answer-id-1613889' class='answer   answerof-416580 ' value='1613889'   \/><label for='answer-id-1613889' id='answer-label-1613889' class=' answer'><span>A description of what constitutes proper approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416580[]' id='answer-id-1613890' class='answer   answerof-416580 ' value='1613890'   \/><label for='answer-id-1613890' id='answer-label-1613890' class=' answer'><span>The annual impact of the changed agreement on cash flows<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416580[]' id='answer-id-1613891' class='answer   answerof-416580 ' value='1613891'   \/><label for='answer-id-1613891' id='answer-label-1613891' class=' answer'><span>Details regarding when the change to the agreement was signed<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-416581'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>During an assurance engagement, an internal auditor noted that the time staff spent accessing customer information in large Excel spreadsheets could be reduced significantly through the use of macros. The auditor would like to train staff on how to use the macros. <br \/>\r<br>Which of the following is the most appropriate course of action for the internal auditor to take?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='416581' \/><input type='hidden' id='answerType416581' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416581[]' id='answer-id-1613892' class='answer   answerof-416581 ' value='1613892'   \/><label for='answer-id-1613892' id='answer-label-1613892' class=' answer'><span>The auditor must not perform the training, because any task to improve the business process could impact audit independence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416581[]' id='answer-id-1613893' class='answer   answerof-416581 ' value='1613893'   \/><label for='answer-id-1613893' id='answer-label-1613893' class=' answer'><span>The auditor must create a new, separate consulting engagement with the business process owner prior to performing the improvement task.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416581[]' id='answer-id-1613894' class='answer   answerof-416581 ' value='1613894'   \/><label for='answer-id-1613894' id='answer-label-1613894' class=' answer'><span>The auditor should get permission to extend the current engagement, and with the process owner's approval, perform the improvement task.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416581[]' id='answer-id-1613895' class='answer   answerof-416581 ' value='1613895'   \/><label for='answer-id-1613895' id='answer-label-1613895' class=' answer'><span>The auditor may proceed with the improvement task without obtaining formal approval, because the task is voluntary and not time-intensive.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-416582'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. <br \/>\r<br>According to IIA guidance, which of the following roles should the CAE not undertake?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='416582' \/><input type='hidden' id='answerType416582' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416582[]' id='answer-id-1613896' class='answer   answerof-416582 ' value='1613896'   \/><label for='answer-id-1613896' id='answer-label-1613896' class=' answer'><span>Manage and coordinate risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416582[]' id='answer-id-1613897' class='answer   answerof-416582 ' value='1613897'   \/><label for='answer-id-1613897' id='answer-label-1613897' class=' answer'><span>Audit risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416582[]' id='answer-id-1613898' class='answer   answerof-416582 ' value='1613898'   \/><label for='answer-id-1613898' id='answer-label-1613898' class=' answer'><span>Become involved in risk oversight committees, monitoring activities, and status reporting.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416582[]' id='answer-id-1613899' class='answer   answerof-416582 ' value='1613899'   \/><label for='answer-id-1613899' id='answer-label-1613899' class=' answer'><span>Accept management's responsibility for risk management without board approval.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-416583'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>An internal auditor completed a review of expenses related to the launch of a new project. The auditor sampled 45 transactions approved by a senior project manager and identified 30 with questionable vendor documentation. <br \/>\r<br>Which of the following is the most appropriate conclusion for the auditor to include in the audit report?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='416583' \/><input type='hidden' id='answerType416583' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416583[]' id='answer-id-1613900' class='answer   answerof-416583 ' value='1613900'   \/><label for='answer-id-1613900' id='answer-label-1613900' class=' answer'><span>The organization incurred excessive cost overruns that resulted in significant financial and legal risk to the project.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416583[]' id='answer-id-1613901' class='answer   answerof-416583 ' value='1613901'   \/><label for='answer-id-1613901' id='answer-label-1613901' class=' answer'><span>The organization experienced a potential conflict of interest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416583[]' id='answer-id-1613902' class='answer   answerof-416583 ' value='1613902'   \/><label for='answer-id-1613902' id='answer-label-1613902' class=' answer'><span>The organization had weaknesses in its review process which allowed questionable transactions with some vendors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416583[]' id='answer-id-1613903' class='answer   answerof-416583 ' value='1613903'   \/><label for='answer-id-1613903' id='answer-label-1613903' class=' answer'><span>The organization allowed the project to launch without assurance that all transactions were regularly approved<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-416584'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following attribute sampling methods would be most appropriate to use to measure the total misstatement posted to an accounts payable ledger?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='416584' \/><input type='hidden' id='answerType416584' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416584[]' id='answer-id-1613904' class='answer   answerof-416584 ' value='1613904'   \/><label for='answer-id-1613904' id='answer-label-1613904' class=' answer'><span>Stop-or-go sampling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416584[]' id='answer-id-1613905' class='answer   answerof-416584 ' value='1613905'   \/><label for='answer-id-1613905' id='answer-label-1613905' class=' answer'><span>Probability to proportional size sampling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416584[]' id='answer-id-1613906' class='answer   answerof-416584 ' value='1613906'   \/><label for='answer-id-1613906' id='answer-label-1613906' class=' answer'><span>Classical variable sampling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416584[]' id='answer-id-1613907' class='answer   answerof-416584 ' value='1613907'   \/><label for='answer-id-1613907' id='answer-label-1613907' class=' answer'><span>Discovery sampling<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-416585'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>The chief audit executive (CAE) determined that the internal audit activity lacks the resources needed to complete the internal audit plan. <br \/>\r<br>Which of the following would be the most appropriate action tor the CAE to take?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='416585' \/><input type='hidden' id='answerType416585' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416585[]' id='answer-id-1613908' class='answer   answerof-416585 ' value='1613908'   \/><label for='answer-id-1613908' id='answer-label-1613908' class=' answer'><span>Use guest auditors from within the organization, and leverage their experience by assigning them to lead engagements m areas where they previously worked<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416585[]' id='answer-id-1613909' class='answer   answerof-416585 ' value='1613909'   \/><label for='answer-id-1613909' id='answer-label-1613909' class=' answer'><span>Outsource some of the audits to the organization s external auditor who is already familiar with the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416585[]' id='answer-id-1613910' class='answer   answerof-416585 ' value='1613910'   \/><label for='answer-id-1613910' id='answer-label-1613910' class=' answer'><span>Invite non auditors to join the internal audit activity for a two-year rotational position, and assign them to join audit teams that are reviewing areas where they have no previous management responsibility<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416585[]' id='answer-id-1613911' class='answer   answerof-416585 ' value='1613911'   \/><label for='answer-id-1613911' id='answer-label-1613911' class=' answer'><span>Recruit recent college graduates and employ them as audit interns with an aim to offer permanent employment<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-416586'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>As part of internal audit's assistance with an annual external audit, the internal auditors are required to do a preliminary analytical review of an bank account balances. This involves verifying the current year end balances as web as comparing the current year end balances with previous year end balances to highlight significant changes. <br \/>\r<br>Which of the following is the most reliable source for verification of the current year end bank balances?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='416586' \/><input type='hidden' id='answerType416586' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416586[]' id='answer-id-1613912' class='answer   answerof-416586 ' value='1613912'   \/><label for='answer-id-1613912' id='answer-label-1613912' class=' answer'><span>Bank confirmations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416586[]' id='answer-id-1613913' class='answer   answerof-416586 ' value='1613913'   \/><label for='answer-id-1613913' id='answer-label-1613913' class=' answer'><span>Internal bonk statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416586[]' id='answer-id-1613914' class='answer   answerof-416586 ' value='1613914'   \/><label for='answer-id-1613914' id='answer-label-1613914' class=' answer'><span>Bank reconciliations as of the end of the year<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416586[]' id='answer-id-1613915' class='answer   answerof-416586 ' value='1613915'   \/><label for='answer-id-1613915' id='answer-label-1613915' class=' answer'><span>Bank account general ledger balancer as of the end of the year<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-416587'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>A toy manufacturer receives certain components from an overseas supplier and uses them to assemble final products Recently quality reviews have identified numerous issues regarding the components' compliance with mandatory quality standards. <br \/>\r<br>Which type of engagement would be most appropriate to assess the root causes of the quality issues?<\/div><input type='hidden' name='question_id[]' id='qID_12' value='416587' \/><input type='hidden' id='answerType416587' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416587[]' id='answer-id-1613916' class='answer   answerof-416587 ' value='1613916'   \/><label for='answer-id-1613916' id='answer-label-1613916' class=' answer'><span>A risk assessment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416587[]' id='answer-id-1613917' class='answer   answerof-416587 ' value='1613917'   \/><label for='answer-id-1613917' id='answer-label-1613917' class=' answer'><span>An operational audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416587[]' id='answer-id-1613918' class='answer   answerof-416587 ' value='1613918'   \/><label for='answer-id-1613918' id='answer-label-1613918' class=' answer'><span>A third-party audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416587[]' id='answer-id-1613919' class='answer   answerof-416587 ' value='1613919'   \/><label for='answer-id-1613919' id='answer-label-1613919' class=' answer'><span>A fraud investigation<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-416588'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>An internal auditor is assigned to validate calculations on the organization's building application As pad of the test the internal auditor is required to use an automated audit tool to simulate transactions for testing. <br \/>\r<br>Which of the following would most appropriately be used for this purpose?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='416588' \/><input type='hidden' id='answerType416588' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416588[]' id='answer-id-1613920' class='answer   answerof-416588 ' value='1613920'   \/><label for='answer-id-1613920' id='answer-label-1613920' class=' answer'><span>Generalized audit software.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416588[]' id='answer-id-1613921' class='answer   answerof-416588 ' value='1613921'   \/><label for='answer-id-1613921' id='answer-label-1613921' class=' answer'><span>Utility software<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416588[]' id='answer-id-1613922' class='answer   answerof-416588 ' value='1613922'   \/><label for='answer-id-1613922' id='answer-label-1613922' class=' answer'><span>integrated test facilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416588[]' id='answer-id-1613923' class='answer   answerof-416588 ' value='1613923'   \/><label for='answer-id-1613923' id='answer-label-1613923' class=' answer'><span>Audit expert systems<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-416589'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Which of the following statements concerning workpapers is the most accurate?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='416589' \/><input type='hidden' id='answerType416589' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416589[]' id='answer-id-1613924' class='answer   answerof-416589 ' value='1613924'   \/><label for='answer-id-1613924' id='answer-label-1613924' class=' answer'><span>The organization and the format of workpapers is the same for all engagements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416589[]' id='answer-id-1613925' class='answer   answerof-416589 ' value='1613925'   \/><label for='answer-id-1613925' id='answer-label-1613925' class=' answer'><span>The extent of what is included in workpapers is a matter of professional judgment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416589[]' id='answer-id-1613926' class='answer   answerof-416589 ' value='1613926'   \/><label for='answer-id-1613926' id='answer-label-1613926' class=' answer'><span>Workpapers should be complete so that every conceivable question that can be raised should be answered<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416589[]' id='answer-id-1613927' class='answer   answerof-416589 ' value='1613927'   \/><label for='answer-id-1613927' id='answer-label-1613927' class=' answer'><span>Copies of operational managements records should not be included, but referenced so that they can be located<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-416590'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>A chief audit executive (CAE) is determining which engagements to include on the annual audit plan. She would like to consider the organization's attitude toward risk and the degree of difficulty in achieving objectives. <br \/>\r<br>Which of the following resources should the CAE consult?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='416590' \/><input type='hidden' id='answerType416590' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416590[]' id='answer-id-1613928' class='answer   answerof-416590 ' value='1613928'   \/><label for='answer-id-1613928' id='answer-label-1613928' class=' answer'><span>The corporate risk register.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416590[]' id='answer-id-1613929' class='answer   answerof-416590 ' value='1613929'   \/><label for='answer-id-1613929' id='answer-label-1613929' class=' answer'><span>The strategic plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416590[]' id='answer-id-1613930' class='answer   answerof-416590 ' value='1613930'   \/><label for='answer-id-1613930' id='answer-label-1613930' class=' answer'><span>Internal and external audit reports.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416590[]' id='answer-id-1613931' class='answer   answerof-416590 ' value='1613931'   \/><label for='answer-id-1613931' id='answer-label-1613931' class=' answer'><span>The board's meeting records.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-416591'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Management has taken immediate action to address an observation received during an audit of the organization's manufacturing process. <br \/>\r<br>Which of the following is true regarding the validity of the observation closure?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='416591' \/><input type='hidden' id='answerType416591' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416591[]' id='answer-id-1613932' class='answer   answerof-416591 ' value='1613932'   \/><label for='answer-id-1613932' id='answer-label-1613932' class=' answer'><span>Valid closure requires evidence that ensures the corrected process will function as expected in the future<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416591[]' id='answer-id-1613933' class='answer   answerof-416591 ' value='1613933'   \/><label for='answer-id-1613933' id='answer-label-1613933' class=' answer'><span>Valid closure requires the client lo address not only the condition, but also the cause of the condition<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416591[]' id='answer-id-1613934' class='answer   answerof-416591 ' value='1613934'   \/><label for='answer-id-1613934' id='answer-label-1613934' class=' answer'><span>Valid closure of an observation ensures it will be included in the final engagement report<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416591[]' id='answer-id-1613935' class='answer   answerof-416591 ' value='1613935'   \/><label for='answer-id-1613935' id='answer-label-1613935' class=' answer'><span>Valid closure requires assurance from management that the original problem will not recur in the future<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-416592'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Which of the following should be the focus of the effect section of the preliminary observations document?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='416592' \/><input type='hidden' id='answerType416592' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416592[]' id='answer-id-1613936' class='answer   answerof-416592 ' value='1613936'   \/><label for='answer-id-1613936' id='answer-label-1613936' class=' answer'><span>Residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416592[]' id='answer-id-1613937' class='answer   answerof-416592 ' value='1613937'   \/><label for='answer-id-1613937' id='answer-label-1613937' class=' answer'><span>Inherent risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416592[]' id='answer-id-1613938' class='answer   answerof-416592 ' value='1613938'   \/><label for='answer-id-1613938' id='answer-label-1613938' class=' answer'><span>Compensating controls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416592[]' id='answer-id-1613939' class='answer   answerof-416592 ' value='1613939'   \/><label for='answer-id-1613939' id='answer-label-1613939' class=' answer'><span>Control activities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-416593'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year All engagements should be appropriately categorized and presented to the chief audit executive for review. <br \/>\r<br>Which of the following would most likely be classified as a consulting engagement?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='416593' \/><input type='hidden' id='answerType416593' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416593[]' id='answer-id-1613940' class='answer   answerof-416593 ' value='1613940'   \/><label for='answer-id-1613940' id='answer-label-1613940' class=' answer'><span>Evaluating procurement department process effectiveness<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416593[]' id='answer-id-1613941' class='answer   answerof-416593 ' value='1613941'   \/><label for='answer-id-1613941' id='answer-label-1613941' class=' answer'><span>Helping in the design of the risk management program<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416593[]' id='answer-id-1613942' class='answer   answerof-416593 ' value='1613942'   \/><label for='answer-id-1613942' id='answer-label-1613942' class=' answer'><span>Assessing financial reporting control adequacy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416593[]' id='answer-id-1613943' class='answer   answerof-416593 ' value='1613943'   \/><label for='answer-id-1613943' id='answer-label-1613943' class=' answer'><span>Reviewing environmental, social, and governance reporting compliance<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-416594'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>During the fieldwork phase of an assurance engagement, the internal auditor decides that she wants to adjust the audit work program. <br \/>\r<br>Which of the following is the most appropriate next step for the auditor to take?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='416594' \/><input type='hidden' id='answerType416594' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416594[]' id='answer-id-1613944' class='answer   answerof-416594 ' value='1613944'   \/><label for='answer-id-1613944' id='answer-label-1613944' class=' answer'><span>Request additional information needed from management of the area under review.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416594[]' id='answer-id-1613945' class='answer   answerof-416594 ' value='1613945'   \/><label for='answer-id-1613945' id='answer-label-1613945' class=' answer'><span>Obtain approval from the engagement supervisor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416594[]' id='answer-id-1613946' class='answer   answerof-416594 ' value='1613946'   \/><label for='answer-id-1613946' id='answer-label-1613946' class=' answer'><span>Obtain the required resources, including I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416594[]' id='answer-id-1613947' class='answer   answerof-416594 ' value='1613947'   \/><label for='answer-id-1613947' id='answer-label-1613947' class=' answer'><span>to complete the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416594[]' id='answer-id-1613948' class='answer   answerof-416594 ' value='1613948'   \/><label for='answer-id-1613948' id='answer-label-1613948' class=' answer'><span>Discuss the change in scope with management of the area under review.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-416595'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>An organization's finance manager plans to implement a state-of-the-art management system to better manage the organization's receivables. The finance manager consulted the chief audit executive (CAE) and asked for her assistance in determining whether the organization is able to accommodate this system. <br \/>\r<br>How would the CAE proceed to determine the objectives of this engagement?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='416595' \/><input type='hidden' id='answerType416595' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416595[]' id='answer-id-1613949' class='answer   answerof-416595 ' value='1613949'   \/><label for='answer-id-1613949' id='answer-label-1613949' class=' answer'><span>Ask the CEO to determine the scope and objectives of the engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416595[]' id='answer-id-1613950' class='answer   answerof-416595 ' value='1613950'   \/><label for='answer-id-1613950' id='answer-label-1613950' class=' answer'><span>Request that the board disclose its concerns over governance for inclusion in the engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416595[]' id='answer-id-1613951' class='answer   answerof-416595 ' value='1613951'   \/><label for='answer-id-1613951' id='answer-label-1613951' class=' answer'><span>Discuss the concerns with the finance manager and work together to agree on the engagement objectives<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416595[]' id='answer-id-1613952' class='answer   answerof-416595 ' value='1613952'   \/><label for='answer-id-1613952' id='answer-label-1613952' class=' answer'><span>Review previous audit reports from the area and develop engagement objectives to address the area's key risks and controls<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-416596'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>The final internal audit report should be distributed to which of the following individuals?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='416596' \/><input type='hidden' id='answerType416596' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416596[]' id='answer-id-1613953' class='answer   answerof-416596 ' value='1613953'   \/><label for='answer-id-1613953' id='answer-label-1613953' class=' answer'><span>Audit client management only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416596[]' id='answer-id-1613954' class='answer   answerof-416596 ' value='1613954'   \/><label for='answer-id-1613954' id='answer-label-1613954' class=' answer'><span>Executive management only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416596[]' id='answer-id-1613955' class='answer   answerof-416596 ' value='1613955'   \/><label for='answer-id-1613955' id='answer-label-1613955' class=' answer'><span>Audit client management, executive management, and others approved by the chief audit executive.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416596[]' id='answer-id-1613956' class='answer   answerof-416596 ' value='1613956'   \/><label for='answer-id-1613956' id='answer-label-1613956' class=' answer'><span>Audit client management, executive management, and any those who request a copy.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-416597'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>During a fraud interview, it was discovered that unquestioned authority enabled a vice president to steal funds from the organization. <br \/>\r<br>Which of the following best describes this condition?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='416597' \/><input type='hidden' id='answerType416597' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416597[]' id='answer-id-1613957' class='answer   answerof-416597 ' value='1613957'   \/><label for='answer-id-1613957' id='answer-label-1613957' class=' answer'><span>Scheme.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416597[]' id='answer-id-1613958' class='answer   answerof-416597 ' value='1613958'   \/><label for='answer-id-1613958' id='answer-label-1613958' class=' answer'><span>Opportunity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416597[]' id='answer-id-1613959' class='answer   answerof-416597 ' value='1613959'   \/><label for='answer-id-1613959' id='answer-label-1613959' class=' answer'><span>Rationalization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416597[]' id='answer-id-1613960' class='answer   answerof-416597 ' value='1613960'   \/><label for='answer-id-1613960' id='answer-label-1613960' class=' answer'><span>Pressure.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-416598'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='416598' \/><input type='hidden' id='answerType416598' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416598[]' id='answer-id-1613961' class='answer   answerof-416598 ' value='1613961'   \/><label for='answer-id-1613961' id='answer-label-1613961' class=' answer'><span>The establishment of an audit approach and documentation system<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416598[]' id='answer-id-1613962' class='answer   answerof-416598 ' value='1613962'   \/><label for='answer-id-1613962' id='answer-label-1613962' class=' answer'><span>The standardization of workpaper terminology and notations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416598[]' id='answer-id-1613963' class='answer   answerof-416598 ' value='1613963'   \/><label for='answer-id-1613963' id='answer-label-1613963' class=' answer'><span>The ability to reach consistent audit conclusions regardless of who performs the audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416598[]' id='answer-id-1613964' class='answer   answerof-416598 ' value='1613964'   \/><label for='answer-id-1613964' id='answer-label-1613964' class=' answer'><span>The application of documentation standards m an appropriate and consistent manner<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-416599'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Which of the following statements generally true regarding audit engagement planning?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='416599' \/><input type='hidden' id='answerType416599' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416599[]' id='answer-id-1613965' class='answer   answerof-416599 ' value='1613965'   \/><label for='answer-id-1613965' id='answer-label-1613965' class=' answer'><span>The best source tor detailed process information is senior management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416599[]' id='answer-id-1613966' class='answer   answerof-416599 ' value='1613966'   \/><label for='answer-id-1613966' id='answer-label-1613966' class=' answer'><span>Audit objectives should be general and do not change.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416599[]' id='answer-id-1613967' class='answer   answerof-416599 ' value='1613967'   \/><label for='answer-id-1613967' id='answer-label-1613967' class=' answer'><span>Computer-assisted audit techniques are typically not useful during engagement planning<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416599[]' id='answer-id-1613968' class='answer   answerof-416599 ' value='1613968'   \/><label for='answer-id-1613968' id='answer-label-1613968' class=' answer'><span>Internal auditors should prepare a dented audit program for testing controls<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-416600'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Which of the following should be described in the recognition element of a typical internal audit repot?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='416600' \/><input type='hidden' id='answerType416600' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416600[]' id='answer-id-1613969' class='answer   answerof-416600 ' value='1613969'   \/><label for='answer-id-1613969' id='answer-label-1613969' class=' answer'><span>Positive aspects of the process or area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416600[]' id='answer-id-1613970' class='answer   answerof-416600 ' value='1613970'   \/><label for='answer-id-1613970' id='answer-label-1613970' class=' answer'><span>A brief synopsis of the process of area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416600[]' id='answer-id-1613971' class='answer   answerof-416600 ' value='1613971'   \/><label for='answer-id-1613971' id='answer-label-1613971' class=' answer'><span>Outcomes and ratings of the process or area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416600[]' id='answer-id-1613972' class='answer   answerof-416600 ' value='1613972'   \/><label for='answer-id-1613972' id='answer-label-1613972' class=' answer'><span>Report issuance and the communication process of the engagement.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-416601'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>An internal auditor conducted interviews with several employees, documented the interviews analyzed the summaries, and drew a number of conclusions. <br \/>\r<br>What sort of audit evidence has the internal auditor primarily obtained?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='416601' \/><input type='hidden' id='answerType416601' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416601[]' id='answer-id-1613973' class='answer   answerof-416601 ' value='1613973'   \/><label for='answer-id-1613973' id='answer-label-1613973' class=' answer'><span>Documentary evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416601[]' id='answer-id-1613974' class='answer   answerof-416601 ' value='1613974'   \/><label for='answer-id-1613974' id='answer-label-1613974' class=' answer'><span>Testimonial evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416601[]' id='answer-id-1613975' class='answer   answerof-416601 ' value='1613975'   \/><label for='answer-id-1613975' id='answer-label-1613975' class=' answer'><span>Analytical evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416601[]' id='answer-id-1613976' class='answer   answerof-416601 ' value='1613976'   \/><label for='answer-id-1613976' id='answer-label-1613976' class=' answer'><span>Physical evidence<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-416602'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Which of the following is one of the five attributes that internal auditors include when documenting a deficiency?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='416602' \/><input type='hidden' id='answerType416602' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416602[]' id='answer-id-1613977' class='answer   answerof-416602 ' value='1613977'   \/><label for='answer-id-1613977' id='answer-label-1613977' class=' answer'><span>The criteria used to make the evaluation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416602[]' id='answer-id-1613978' class='answer   answerof-416602 ' value='1613978'   \/><label for='answer-id-1613978' id='answer-label-1613978' class=' answer'><span>The methodology used to analyze data<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416602[]' id='answer-id-1613979' class='answer   answerof-416602 ' value='1613979'   \/><label for='answer-id-1613979' id='answer-label-1613979' class=' answer'><span>The proposed follow-up engagement work to be performed<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416602[]' id='answer-id-1613980' class='answer   answerof-416602 ' value='1613980'   \/><label for='answer-id-1613980' id='answer-label-1613980' class=' answer'><span>The scope of work performed during the engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-416603'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Which of the following statements about assurance maps is correct?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='416603' \/><input type='hidden' id='answerType416603' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416603[]' id='answer-id-1613981' class='answer   answerof-416603 ' value='1613981'   \/><label for='answer-id-1613981' id='answer-label-1613981' class=' answer'><span>An assurance map is used by the chief audit executive to coordinate assurance activities with other internal and external assurance providers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416603[]' id='answer-id-1613982' class='answer   answerof-416603 ' value='1613982'   \/><label for='answer-id-1613982' id='answer-label-1613982' class=' answer'><span>An assurance map is a picture of all assurance engagements performed by the internal audit activity across the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416603[]' id='answer-id-1613983' class='answer   answerof-416603 ' value='1613983'   \/><label for='answer-id-1613983' id='answer-label-1613983' class=' answer'><span>An assurance map is used by the engagement supervisor to coordinate the roles of various internal audit team members assigned to assurance engagements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416603[]' id='answer-id-1613984' class='answer   answerof-416603 ' value='1613984'   \/><label for='answer-id-1613984' id='answer-label-1613984' class=' answer'><span>An assurance map lists the procedures and testing activities performed by an internal audit team during an assurance engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-416604'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>According to an internal audit observation, the organization\u2019s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system. <br \/>\r<br>Which of the following component should be added to this observation?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='416604' \/><input type='hidden' id='answerType416604' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416604[]' id='answer-id-1613985' class='answer   answerof-416604 ' value='1613985'   \/><label for='answer-id-1613985' id='answer-label-1613985' class=' answer'><span>Criteria<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416604[]' id='answer-id-1613986' class='answer   answerof-416604 ' value='1613986'   \/><label for='answer-id-1613986' id='answer-label-1613986' class=' answer'><span>Cause<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416604[]' id='answer-id-1613987' class='answer   answerof-416604 ' value='1613987'   \/><label for='answer-id-1613987' id='answer-label-1613987' class=' answer'><span>Effect<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416604[]' id='answer-id-1613988' class='answer   answerof-416604 ' value='1613988'   \/><label for='answer-id-1613988' id='answer-label-1613988' class=' answer'><span>Condition<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-416605'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive? <br \/>\r<br>&#8226; During an audit of the hiring process in a law firm, it was discovered that potential employees' credentials were not always confirmed sufficiently. This process remained unchanged at the following audit. <br \/>\r<br>&#8226; During an audit of the accounts payable department, auditors calculated that two percent of accounts were paid past due. This condition persisted at a follow up audit. <br \/>\r<br>&#8226; During an audit of the vehicle fleet of a rental agency, it was determined that at any given time, eight percent of the vehicles were not operational. During the next audit, this figure had increased. <br \/>\r<br>&#8226; During an audit of the cash handling process in a casino, internal audit discovered control deficiencies in the transfer process between the slot machines and the cash counting area. It was corrected immediately.<\/div><input type='hidden' name='question_id[]' id='qID_30' value='416605' \/><input type='hidden' id='answerType416605' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416605[]' id='answer-id-1613989' class='answer   answerof-416605 ' value='1613989'   \/><label for='answer-id-1613989' id='answer-label-1613989' class=' answer'><span>1 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416605[]' id='answer-id-1613990' class='answer   answerof-416605 ' value='1613990'   \/><label for='answer-id-1613990' id='answer-label-1613990' class=' answer'><span>1 and 4 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416605[]' id='answer-id-1613991' class='answer   answerof-416605 ' value='1613991'   \/><label for='answer-id-1613991' id='answer-label-1613991' class=' answer'><span>2 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416605[]' id='answer-id-1613992' class='answer   answerof-416605 ' value='1613992'   \/><label for='answer-id-1613992' id='answer-label-1613992' class=' answer'><span>2 and 4 only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-416606'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='416606' \/><input type='hidden' id='answerType416606' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416606[]' id='answer-id-1613993' class='answer   answerof-416606 ' value='1613993'   \/><label for='answer-id-1613993' id='answer-label-1613993' class=' answer'><span>The chief audit executive may recommend that management conduct further work to identify the root cause and address the issue<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416606[]' id='answer-id-1613994' class='answer   answerof-416606 ' value='1613994'   \/><label for='answer-id-1613994' id='answer-label-1613994' class=' answer'><span>Internal auditors should finish the engagement without conducting the root cause analysis and draft the audit report, though the report would not be considered complete until the analysis is concluded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416606[]' id='answer-id-1613995' class='answer   answerof-416606 ' value='1613995'   \/><label for='answer-id-1613995' id='answer-label-1613995' class=' answer'><span>internal auditors must adjust their future engagement schedule to ensure that the root cause analysis is always performed before the engagement is concluded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416606[]' id='answer-id-1613996' class='answer   answerof-416606 ' value='1613996'   \/><label for='answer-id-1613996' id='answer-label-1613996' class=' answer'><span>Internal auditors should Instead perform a Pareto rule analysis<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-416607'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>An internal auditor was reviewing the procurement department's tender documentation for completeness He documented all discrepancies but the procurement manager disagreed with his findings Upon further review, the internal auditor noted that all discrepancies had been corrected in the tender database. <br \/>\r<br>Which of the following courses of action would have prevented this situation?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='416607' \/><input type='hidden' id='answerType416607' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416607[]' id='answer-id-1613997' class='answer   answerof-416607 ' value='1613997'   \/><label for='answer-id-1613997' id='answer-label-1613997' class=' answer'><span>The auditor should have ensured the preservation of audit evidence by taking screenshots or extracting tender documents<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416607[]' id='answer-id-1613998' class='answer   answerof-416607 ' value='1613998'   \/><label for='answer-id-1613998' id='answer-label-1613998' class=' answer'><span>The auditor should have extracted a list of logs and identified any actions that were executed in the database during the audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416607[]' id='answer-id-1613999' class='answer   answerof-416607 ' value='1613999'   \/><label for='answer-id-1613999' id='answer-label-1613999' class=' answer'><span>The auditor should have instructed procurement workers that changes to the database during the course of the audit were strictly forbidden<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416607[]' id='answer-id-1614000' class='answer   answerof-416607 ' value='1614000'   \/><label for='answer-id-1614000' id='answer-label-1614000' class=' answer'><span>The internal auditor should have created a more thorough work program, which would address audit criteria and potential causes in more detail<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-416608'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='416608' \/><input type='hidden' id='answerType416608' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416608[]' id='answer-id-1614001' class='answer   answerof-416608 ' value='1614001'   \/><label for='answer-id-1614001' id='answer-label-1614001' class=' answer'><span>To ensure that the engagement is completed on time and within budget<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416608[]' id='answer-id-1614002' class='answer   answerof-416608 ' value='1614002'   \/><label for='answer-id-1614002' id='answer-label-1614002' class=' answer'><span>To ensure that all work performed meets acceptable quality standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416608[]' id='answer-id-1614003' class='answer   answerof-416608 ' value='1614003'   \/><label for='answer-id-1614003' id='answer-label-1614003' class=' answer'><span>To ensure that management has provided suitable responses to all observations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416608[]' id='answer-id-1614004' class='answer   answerof-416608 ' value='1614004'   \/><label for='answer-id-1614004' id='answer-label-1614004' class=' answer'><span>To ensure that management is satisfied with the progress of the engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-416609'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>A corporate merger decision prompts the cruel audit executive (CAE) to propose interim changes lo the existing annual audit plan to account for emerging risks. <br \/>\r<br>When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='416609' \/><input type='hidden' id='answerType416609' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416609[]' id='answer-id-1614005' class='answer   answerof-416609 ' value='1614005'   \/><label for='answer-id-1614005' id='answer-label-1614005' class=' answer'><span>Present the revised audit plan directly to the board for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416609[]' id='answer-id-1614006' class='answer   answerof-416609 ' value='1614006'   \/><label for='answer-id-1614006' id='answer-label-1614006' class=' answer'><span>Communicate with the chief financial officer and present the revised audit plan to the CEO for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416609[]' id='answer-id-1614007' class='answer   answerof-416609 ' value='1614007'   \/><label for='answer-id-1614007' id='answer-label-1614007' class=' answer'><span>Present the revised audit plan directly to the CEO for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416609[]' id='answer-id-1614008' class='answer   answerof-416609 ' value='1614008'   \/><label for='answer-id-1614008' id='answer-label-1614008' class=' answer'><span>Communicate with the CCO and present the revised audit plan to the board for approval<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-416610'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>An internal auditor is conducting a financial audit. <br \/>\r<br>Which of the following audit procedures is most appropriate when existing internal controls are weak?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='416610' \/><input type='hidden' id='answerType416610' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416610[]' id='answer-id-1614009' class='answer   answerof-416610 ' value='1614009'   \/><label for='answer-id-1614009' id='answer-label-1614009' class=' answer'><span>Analytical procedures.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416610[]' id='answer-id-1614010' class='answer   answerof-416610 ' value='1614010'   \/><label for='answer-id-1614010' id='answer-label-1614010' class=' answer'><span>Detail testing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416610[]' id='answer-id-1614011' class='answer   answerof-416610 ' value='1614011'   \/><label for='answer-id-1614011' id='answer-label-1614011' class=' answer'><span>Test of design.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416610[]' id='answer-id-1614012' class='answer   answerof-416610 ' value='1614012'   \/><label for='answer-id-1614012' id='answer-label-1614012' class=' answer'><span>Test of control.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-416611'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Which of the following is the most important determinant of the objectives and scope of assurance engagements?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='416611' \/><input type='hidden' id='answerType416611' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416611[]' id='answer-id-1614013' class='answer   answerof-416611 ' value='1614013'   \/><label for='answer-id-1614013' id='answer-label-1614013' class=' answer'><span>The organizational chart, business objectives and policies and procedures of the area to be reviewed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416611[]' id='answer-id-1614014' class='answer   answerof-416611 ' value='1614014'   \/><label for='answer-id-1614014' id='answer-label-1614014' class=' answer'><span>The most recent risk assessment conducted by management of the area to be reviewed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416611[]' id='answer-id-1614015' class='answer   answerof-416611 ' value='1614015'   \/><label for='answer-id-1614015' id='answer-label-1614015' class=' answer'><span>The requests of operational and senior management throughout the organization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416611[]' id='answer-id-1614016' class='answer   answerof-416611 ' value='1614016'   \/><label for='answer-id-1614016' id='answer-label-1614016' class=' answer'><span>The preliminary risk assessment performed by internal auditors planning the engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-416612'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>An internal auditor is conducting a preliminary survey of the investments area, and sends an internal control questionnaire to the management of the function. (An extract of the survey is provided below). <br \/>\r<br><br><img decoding=\"async\" width=624 height=13 id=\"\u56fe\u7247 50\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2025\/07\/image001-5.png\"><br><br \/>\r<br>1. Are there any restrictions for any company's investments? <br \/>\r<br>2. Are there any written policies and procedures that document the flow of investment processing? <br \/>\r<br>3. Are investment purchases recorded in the general ledger on the date traded? <br \/>\r<br>4. Is the documentation easily accessible to an persons who need in to perform their job? <br \/>\r<br>Which of the following is a drawback of testing methods like this?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='416612' \/><input type='hidden' id='answerType416612' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416612[]' id='answer-id-1614017' class='answer   answerof-416612 ' value='1614017'   \/><label for='answer-id-1614017' id='answer-label-1614017' class=' answer'><span>They ore kitted as they do not allow the auditor to test many controls.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416612[]' id='answer-id-1614018' class='answer   answerof-416612 ' value='1614018'   \/><label for='answer-id-1614018' id='answer-label-1614018' class=' answer'><span>They do not highlight control gaps<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416612[]' id='answer-id-1614019' class='answer   answerof-416612 ' value='1614019'   \/><label for='answer-id-1614019' id='answer-label-1614019' class=' answer'><span>They are not useful for identifying areas on which the auditor should locus.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416612[]' id='answer-id-1614020' class='answer   answerof-416612 ' value='1614020'   \/><label for='answer-id-1614020' id='answer-label-1614020' class=' answer'><span>They are limited as there is a risk that management may not answer fairly.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-416613'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>An internal auditor is asked to review a recently completed renovation to a retail outlet. <br \/>\r<br>Which of the following would provide the most reliable evidence that the completed work conformed to the plan?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='416613' \/><input type='hidden' id='answerType416613' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416613[]' id='answer-id-1614021' class='answer   answerof-416613 ' value='1614021'   \/><label for='answer-id-1614021' id='answer-label-1614021' class=' answer'><span>An interview with the employee who performed the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416613[]' id='answer-id-1614022' class='answer   answerof-416613 ' value='1614022'   \/><label for='answer-id-1614022' id='answer-label-1614022' class=' answer'><span>An analysis of purchasing and receiving documentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416613[]' id='answer-id-1614023' class='answer   answerof-416613 ' value='1614023'   \/><label for='answer-id-1614023' id='answer-label-1614023' class=' answer'><span>Existence of a signed completion document accepting the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416613[]' id='answer-id-1614024' class='answer   answerof-416613 ' value='1614024'   \/><label for='answer-id-1614024' id='answer-label-1614024' class=' answer'><span>A physical inspection of the retail outlet.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-416614'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Which of the following would not be a typical activity for the chief audit executive to perform following an audit engagement?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='416614' \/><input type='hidden' id='answerType416614' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416614[]' id='answer-id-1614025' class='answer   answerof-416614 ' value='1614025'   \/><label for='answer-id-1614025' id='answer-label-1614025' class=' answer'><span>Report follow-up activities to senior management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416614[]' id='answer-id-1614026' class='answer   answerof-416614 ' value='1614026'   \/><label for='answer-id-1614026' id='answer-label-1614026' class=' answer'><span>Implement follow-up procedures to evaluate residual risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416614[]' id='answer-id-1614027' class='answer   answerof-416614 ' value='1614027'   \/><label for='answer-id-1614027' id='answer-label-1614027' class=' answer'><span>Determine the costs of implementing the recommendations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416614[]' id='answer-id-1614028' class='answer   answerof-416614 ' value='1614028'   \/><label for='answer-id-1614028' id='answer-label-1614028' class=' answer'><span>Evaluate the extent of improvements.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-416615'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>According to HA guidance, the chief audit executive is directly responsible for which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='416615' \/><input type='hidden' id='answerType416615' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416615[]' id='answer-id-1614029' class='answer   answerof-416615 ' value='1614029'   \/><label for='answer-id-1614029' id='answer-label-1614029' class=' answer'><span>Maintaining a quality assurance program even in the absence of management support<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416615[]' id='answer-id-1614030' class='answer   answerof-416615 ' value='1614030'   \/><label for='answer-id-1614030' id='answer-label-1614030' class=' answer'><span>Periodically reviewing and approving the internal audit charier<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416615[]' id='answer-id-1614031' class='answer   answerof-416615 ' value='1614031'   \/><label for='answer-id-1614031' id='answer-label-1614031' class=' answer'><span>Providing opportunities for all staff auditors to satisfy their professional development requirements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-416615[]' id='answer-id-1614032' class='answer   answerof-416615 ' value='1614032'   \/><label for='answer-id-1614032' id='answer-label-1614032' class=' answer'><span>Establishing the objectives scope and plan for each engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-41'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons10528\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"10528\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-05 16:31:44\" \/>\n\t<input type=\"hidden\" name=\"start_timestamp\" id=\"startTimeStamp\" value=\"1777998704\" \/>\n\t<input type=\"hidden\" name=\"question_ids\" value=\"\" \/>\n\t<input type=\"hidden\" name=\"watupro_questions\" value=\"416576:1613872,1613873,1613874,1613875 | 416577:1613876,1613877,1613878,1613879 | 416578:1613880,1613881,1613882,1613883 | 416579:1613884,1613885,1613886,1613887 | 416580:1613888,1613889,1613890,1613891 | 416581:1613892,1613893,1613894,1613895 | 416582:1613896,1613897,1613898,1613899 | 416583:1613900,1613901,1613902,1613903 | 416584:1613904,1613905,1613906,1613907 | 416585:1613908,1613909,1613910,1613911 | 416586:1613912,1613913,1613914,1613915 | 416587:1613916,1613917,1613918,1613919 | 416588:1613920,1613921,1613922,1613923 | 416589:1613924,1613925,1613926,1613927 | 416590:1613928,1613929,1613930,1613931 | 416591:1613932,1613933,1613934,1613935 | 416592:1613936,1613937,1613938,1613939 | 416593:1613940,1613941,1613942,1613943 | 416594:1613944,1613945,1613946,1613947,1613948 | 416595:1613949,1613950,1613951,1613952 | 416596:1613953,1613954,1613955,1613956 | 416597:1613957,1613958,1613959,1613960 | 416598:1613961,1613962,1613963,1613964 | 416599:1613965,1613966,1613967,1613968 | 416600:1613969,1613970,1613971,1613972 | 416601:1613973,1613974,1613975,1613976 | 416602:1613977,1613978,1613979,1613980 | 416603:1613981,1613982,1613983,1613984 | 416604:1613985,1613986,1613987,1613988 | 416605:1613989,1613990,1613991,1613992 | 416606:1613993,1613994,1613995,1613996 | 416607:1613997,1613998,1613999,1614000 | 416608:1614001,1614002,1614003,1614004 | 416609:1614005,1614006,1614007,1614008 | 416610:1614009,1614010,1614011,1614012 | 416611:1614013,1614014,1614015,1614016 | 416612:1614017,1614018,1614019,1614020 | 416613:1614021,1614022,1614023,1614024 | 416614:1614025,1614026,1614027,1614028 | 416615:1614029,1614030,1614031,1614032\" \/>\n\t<input type=\"hidden\" name=\"no_ajax\" value=\"0\">\t\t\t<\/form>\n\t<p>&nbsp;<\/p>\n<\/div>\n\n<script type=\"text\/javascript\">\n\/\/jQuery(document).ready(function(){\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \t\nvar question_ids = \"416576,416577,416578,416579,416580,416581,416582,416583,416584,416585,416586,416587,416588,416589,416590,416591,416592,416593,416594,416595,416596,416597,416598,416599,416600,416601,416602,416603,416604,416605,416606,416607,416608,416609,416610,416611,416612,416613,416614,416615\";\nWatuPROSettings[10528] = {};\nWatuPRO.qArr = question_ids.split(',');\nWatuPRO.exam_id = 10528;\t    \nWatuPRO.post_id = 107048;\nWatuPRO.store_progress = 0;\nWatuPRO.curCatPage = 1;\nWatuPRO.requiredIDs=\"0\".split(\",\");\nWatuPRO.hAppID = \"0.86535400 1777998704\";\nvar url = \"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/show_exam.php\";\nWatuPRO.examMode = 1;\nWatuPRO.siteURL=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-admin\/admin-ajax.php\";\nWatuPRO.emailIsNotRequired = 0;\nWatuPROIntel.init(10528);\nWatuPRO.inCategoryPages=1;});    \t \n<\/script>\n<p>&nbsp;<\/p>\n<h3>Also, check the <a href=\"https:\/\/www.dumpsbase.com\/freedumps\/iia-cia-part2-dumps-v18-03-are-available-to-prepare-for-your-internal-audit-engagement-exam-practice-with-iia-cia-part2-free-dumps-part-2-q41-q80-first.html\"><span style=\"background-color: #ccffff;\"><em>IIA-CIA-Part2 free dumps (Part 2, Q41-Q80) of V18.03<\/em><\/span><\/a> online.<\/h3>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When choosing a standard and popular path to complete your IIA Internal Audit (CIA) certification, you must pass three exams, which have been renamed as below: IIA-CIA-Part1 Internal Audit Fundamentals IIA-CIA-Part2 Internal Audit Engagement IIA-CIA-Part3 Internal Audit Function We ensure that you are fully prepared for the CIA certification exams by using the latest dumps. 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