{"id":17512,"date":"2021-01-06T03:11:57","date_gmt":"2021-01-06T03:11:57","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=17512"},"modified":"2021-01-06T03:12:14","modified_gmt":"2021-01-06T03:12:14","slug":"acca-cia-challenge-exam-iia-acca-real-dumps-questions","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/acca-cia-challenge-exam-iia-acca-real-dumps-questions.html","title":{"rendered":"ACCA CIA Challenge Exam IIA-ACCA Real Dumps Questions"},"content":{"rendered":"\n<p>One being a IIA-ACCA ACCA CIA Challenge certified can take advantage of this rare opportunity to earn the Certified Internal Auditor\u00ae (CIA\u00ae) designation through an expedited process and join the over 165,000 CIAs. To help you be a IIA-ACCA certified, we have released new IIA-ACCA exam dumps at DumpsBase, which provide you with 604 practice exam questions and answers for reading. It is highly recommended to prepare for IIA-ACCA exam with DumpsBase IIA-ACCA real dumps questions.<\/p>\n<h2>Read <span style=\"color: #ff0000;\">IIA-ACCA Free Dumps<\/span> First Before Getting IIA-ACCA Dumps<\/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=\"submittingExam5034\" 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-5034\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-5034\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-161833'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>What should the internal auditor's role be in assessing the organization's ethical climate?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='161833' \/><input type='hidden' id='answerType161833' 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-161833[]' id='answer-id-656155' class='answer   answerof-161833 ' value='656155'   \/><label for='answer-id-656155' id='answer-label-656155' class=' answer'><span>Perform ongoing surveys of the employees, customers, and partners of the organization to assess the organization's ethical climate. ^Evaluate the effectiveness of the organization's strategies and<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161833[]' id='answer-id-656156' class='answer   answerof-161833 ' value='656156'   \/><label for='answer-id-656156' id='answer-label-656156' class=' answer'><span>processes for achieving the desired level of legal and ethical compliance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161833[]' id='answer-id-656157' class='answer   answerof-161833 ' value='656157'   \/><label for='answer-id-656157' id='answer-label-656157' class=' answer'><span>Maintain a whistleblower hotline to identify inappropriate or illegal activity within the organization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161833[]' id='answer-id-656158' class='answer   answerof-161833 ' value='656158'   \/><label for='answer-id-656158' id='answer-label-656158' class=' answer'><span>Perform background checks of potential new employees before they are hired by the organization.<\/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-161834'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>According to COSO, which of the following is not considered one of the components of an organization's internal environment?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='161834' \/><input type='hidden' id='answerType161834' 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-161834[]' id='answer-id-656159' class='answer   answerof-161834 ' value='656159'   \/><label for='answer-id-656159' id='answer-label-656159' class=' answer'><span>Authority and responsibility to resolve issues.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161834[]' id='answer-id-656160' class='answer   answerof-161834 ' value='656160'   \/><label for='answer-id-656160' id='answer-label-656160' class=' answer'><span>Framework to plan, execute and monitor activities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161834[]' id='answer-id-656161' class='answer   answerof-161834 ' value='656161'   \/><label for='answer-id-656161' id='answer-label-656161' class=' answer'><span>Integrated responses to multiple risks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161834[]' id='answer-id-656162' class='answer   answerof-161834 ' value='656162'   \/><label for='answer-id-656162' id='answer-label-656162' class=' answer'><span>Knowledge and skills needed to perform activities.<\/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-161835'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Which of the following enhances the independence of the internal audit activity?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='161835' \/><input type='hidden' id='answerType161835' 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-161835[]' id='answer-id-656163' class='answer   answerof-161835 ' value='656163'   \/><label for='answer-id-656163' id='answer-label-656163' class=' answer'><span>The chief audit executive (CAE) approves the annual internal audit plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161835[]' id='answer-id-656164' class='answer   answerof-161835 ' value='656164'   \/><label for='answer-id-656164' id='answer-label-656164' class=' answer'><span>The CAE administratively reports to the board.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161835[]' id='answer-id-656165' class='answer   answerof-161835 ' value='656165'   \/><label for='answer-id-656165' id='answer-label-656165' class=' answer'><span>The audit committee approves the CAE's annual salary increase.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161835[]' id='answer-id-656166' class='answer   answerof-161835 ' value='656166'   \/><label for='answer-id-656166' id='answer-label-656166' class=' answer'><span>The chief executive officer approves the internal audit charter.<\/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-161836'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>A medical insurance provider uses an electronic claims-submission process and suspects that a number of physicians have submitted claims for treatments that were not performed. <br \/>\r<br>Which of the following control procedures would be most effective to detect this type of fraud?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='161836' \/><input type='hidden' id='answerType161836' 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-161836[]' id='answer-id-656167' class='answer   answerof-161836 ' value='656167'   \/><label for='answer-id-656167' id='answer-label-656167' class=' answer'><span>Require the physician to submit a signed statement attesting that the treatments had been performed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161836[]' id='answer-id-656168' class='answer   answerof-161836 ' value='656168'   \/><label for='answer-id-656168' id='answer-label-656168' class=' answer'><span>Send confirmations to the physicians, requesting them to verify the exact nature of the claims submitted to the insurance provider.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161836[]' id='answer-id-656169' class='answer   answerof-161836 ' value='656169'   \/><label for='answer-id-656169' id='answer-label-656169' class=' answer'><span>Develop an integrated test facility and submit false claims to verify that the system is detecting such claims on a consistent basis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161836[]' id='answer-id-656170' class='answer   answerof-161836 ' value='656170'   \/><label for='answer-id-656170' id='answer-label-656170' class=' answer'><span>Use computer software to identify abnormal claims based on the insured's age and medical history.<\/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-161837'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='161837' \/><input type='hidden' id='answerType161837' 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-161837[]' id='answer-id-656171' class='answer   answerof-161837 ' value='656171'   \/><label for='answer-id-656171' id='answer-label-656171' class=' answer'><span>Planning an engagement of the area in which fraud is suspected.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161837[]' id='answer-id-656172' class='answer   answerof-161837 ' value='656172'   \/><label for='answer-id-656172' id='answer-label-656172' class=' answer'><span>Employing audit tests to detect fraud.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161837[]' id='answer-id-656173' class='answer   answerof-161837 ' value='656173'   \/><label for='answer-id-656173' id='answer-label-656173' class=' answer'><span>Interrogating a suspected fraudster.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161837[]' id='answer-id-656174' class='answer   answerof-161837 ' value='656174'   \/><label for='answer-id-656174' id='answer-label-656174' class=' answer'><span>Completing a process review to improve controls to prevent fraud.<\/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-161838'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Non-statistical sampling does not require which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='161838' \/><input type='hidden' id='answerType161838' 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-161838[]' id='answer-id-656175' class='answer   answerof-161838 ' value='656175'   \/><label for='answer-id-656175' id='answer-label-656175' class=' answer'><span>The sample to be representative of the population.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161838[]' id='answer-id-656176' class='answer   answerof-161838 ' value='656176'   \/><label for='answer-id-656176' id='answer-label-656176' class=' answer'><span>The sample to be selected haphazardly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161838[]' id='answer-id-656177' class='answer   answerof-161838 ' value='656177'   \/><label for='answer-id-656177' id='answer-label-656177' class=' answer'><span>A smaller sample size than if selected using statistical sampling.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161838[]' id='answer-id-656178' class='answer   answerof-161838 ' value='656178'   \/><label for='answer-id-656178' id='answer-label-656178' class=' answer'><span>Projecting the results to the population.<\/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-161839'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>The internal audit activity is planning a procurement audit and needs to obtain a thorough understanding of the subcontracting process, which can involve multiple individuals in multiple countries. <br \/>\r<br>Which of the following internal audit tools would be most effective to document the process and the key controls?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='161839' \/><input type='hidden' id='answerType161839' 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-161839[]' id='answer-id-656179' class='answer   answerof-161839 ' value='656179'   \/><label for='answer-id-656179' id='answer-label-656179' class=' answer'><span>Internal control checklist.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161839[]' id='answer-id-656180' class='answer   answerof-161839 ' value='656180'   \/><label for='answer-id-656180' id='answer-label-656180' class=' answer'><span>Procurement employee survey.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161839[]' id='answer-id-656181' class='answer   answerof-161839 ' value='656181'   \/><label for='answer-id-656181' id='answer-label-656181' class=' answer'><span>Cross-functional flow chart.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161839[]' id='answer-id-656182' class='answer   answerof-161839 ' value='656182'   \/><label for='answer-id-656182' id='answer-label-656182' class=' answer'><span>Segregation of duties matrix.<\/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-161840'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>An auditor identifies three errors in the sample of 25 entries selected for review (a 12 percent error rate). Based on this result, the auditor assumes that approximately 59 of the total population of 492 entries are incorrect. <br \/>\r<br>To reach this assumption, the auditor has used a technique known as which of the following?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='161840' \/><input type='hidden' id='answerType161840' 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-161840[]' id='answer-id-656183' class='answer   answerof-161840 ' value='656183'   \/><label for='answer-id-656183' id='answer-label-656183' class=' answer'><span>Variability tolerance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161840[]' id='answer-id-656184' class='answer   answerof-161840 ' value='656184'   \/><label for='answer-id-656184' id='answer-label-656184' class=' answer'><span>Ratio estimation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161840[]' id='answer-id-656185' class='answer   answerof-161840 ' value='656185'   \/><label for='answer-id-656185' id='answer-label-656185' class=' answer'><span>Stratification.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161840[]' id='answer-id-656186' class='answer   answerof-161840 ' value='656186'   \/><label for='answer-id-656186' id='answer-label-656186' class=' answer'><span>Acceptance sampling.<\/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-161841'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following is most likely to enhance an internal auditor's objectivity?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='161841' \/><input type='hidden' id='answerType161841' 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-161841[]' id='answer-id-656187' class='answer   answerof-161841 ' value='656187'   \/><label for='answer-id-656187' id='answer-label-656187' class=' answer'><span>An auditor is appropriately able to communicate results.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161841[]' id='answer-id-656188' class='answer   answerof-161841 ' value='656188'   \/><label for='answer-id-656188' id='answer-label-656188' class=' answer'><span>An auditor performs his work free from interference.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161841[]' id='answer-id-656189' class='answer   answerof-161841 ' value='656189'   \/><label for='answer-id-656189' id='answer-label-656189' class=' answer'><span>An auditor is unrestricted in determination of scope.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161841[]' id='answer-id-656190' class='answer   answerof-161841 ' value='656190'   \/><label for='answer-id-656190' id='answer-label-656190' class=' answer'><span>An auditor avoids conflicts of interest.<\/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-161842'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>According to IIA guidance, which of the following should be formally documented in the internal audit charter?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='161842' \/><input type='hidden' id='answerType161842' 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-161842[]' id='answer-id-656191' class='answer   answerof-161842 ' value='656191'   \/><label for='answer-id-656191' id='answer-label-656191' class=' answer'><span>The internal audit activity's responsibility for imposing risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161842[]' id='answer-id-656192' class='answer   answerof-161842 ' value='656192'   \/><label for='answer-id-656192' id='answer-label-656192' class=' answer'><span>The internal audit activity's responsibility for the organization's governance framework.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161842[]' id='answer-id-656193' class='answer   answerof-161842 ' value='656193'   \/><label for='answer-id-656193' id='answer-label-656193' class=' answer'><span>The nature of consulting services provided by the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161842[]' id='answer-id-656194' class='answer   answerof-161842 ' value='656194'   \/><label for='answer-id-656194' id='answer-label-656194' class=' answer'><span>The budgeting process for the internal audit activity.<\/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-161843'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>An internal auditor wants to sample data to test an audit theory in a cost-effective way. <br \/>\r<br>Which of the following sampling strategies should she use?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='161843' \/><input type='hidden' id='answerType161843' 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-161843[]' id='answer-id-656195' class='answer   answerof-161843 ' value='656195'   \/><label for='answer-id-656195' id='answer-label-656195' class=' answer'><span>Statistical sampling only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161843[]' id='answer-id-656196' class='answer   answerof-161843 ' value='656196'   \/><label for='answer-id-656196' id='answer-label-656196' class=' answer'><span>Nonstatistical sampling only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161843[]' id='answer-id-656197' class='answer   answerof-161843 ' value='656197'   \/><label for='answer-id-656197' id='answer-label-656197' class=' answer'><span>A combination of both statistical and nonstatistical sampling.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161843[]' id='answer-id-656198' class='answer   answerof-161843 ' value='656198'   \/><label for='answer-id-656198' id='answer-label-656198' class=' answer'><span>Neither approach to testing the audit theory would be cost effective.<\/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-161844'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>The internal audit activity's responsibilities.<\/div><input type='hidden' name='question_id[]' id='qID_12' value='161844' \/><input type='hidden' id='answerType161844' 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-161844[]' id='answer-id-656199' class='answer   answerof-161844 ' value='656199'   \/><label for='answer-id-656199' id='answer-label-656199' class=' answer'><span>4 only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161844[]' id='answer-id-656200' class='answer   answerof-161844 ' value='656200'   \/><label for='answer-id-656200' id='answer-label-656200' class=' answer'><span>1 and 2 only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161844[]' id='answer-id-656201' class='answer   answerof-161844 ' value='656201'   \/><label for='answer-id-656201' id='answer-label-656201' class=' answer'><span>3 and 4.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161844[]' id='answer-id-656202' class='answer   answerof-161844 ' value='656202'   \/><label for='answer-id-656202' id='answer-label-656202' class=' answer'><span>1,2, and 3.<\/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-161845'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Which of the following would not be considered part of preliminary survey of an engagement area?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='161845' \/><input type='hidden' id='answerType161845' 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-161845[]' id='answer-id-656203' class='answer   answerof-161845 ' value='656203'   \/><label for='answer-id-656203' id='answer-label-656203' class=' answer'><span>Interviews with individuals affected by the entity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161845[]' id='answer-id-656204' class='answer   answerof-161845 ' value='656204'   \/><label for='answer-id-656204' id='answer-label-656204' class=' answer'><span>Functional walk through test.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161845[]' id='answer-id-656205' class='answer   answerof-161845 ' value='656205'   \/><label for='answer-id-656205' id='answer-label-656205' class=' answer'><span>Analytical reviews.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161845[]' id='answer-id-656206' class='answer   answerof-161845 ' value='656206'   \/><label for='answer-id-656206' id='answer-label-656206' class=' answer'><span>Sampling scope.<\/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-161846'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>The internal audit charter requires the CAE to report functionally to the audit committee.<\/div><input type='hidden' name='question_id[]' id='qID_14' value='161846' \/><input type='hidden' id='answerType161846' 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-161846[]' id='answer-id-656207' class='answer   answerof-161846 ' value='656207'   \/><label for='answer-id-656207' id='answer-label-656207' class=' answer'><span>3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161846[]' id='answer-id-656208' class='answer   answerof-161846 ' value='656208'   \/><label for='answer-id-656208' id='answer-label-656208' class=' answer'><span>1 and 2 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161846[]' id='answer-id-656209' class='answer   answerof-161846 ' value='656209'   \/><label for='answer-id-656209' id='answer-label-656209' class=' answer'><span>2 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161846[]' id='answer-id-656210' class='answer   answerof-161846 ' value='656210'   \/><label for='answer-id-656210' id='answer-label-656210' class=' answer'><span>1, 2, and 3<\/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-161847'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>Management would like to self-assess the overall effectiveness of the controls in place for its 200-person manufacturing department. <br \/>\r<br>Which of the following client-facilitated approaches is likely to be the most efficient way to accomplish this objective?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='161847' \/><input type='hidden' id='answerType161847' 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-161847[]' id='answer-id-656211' class='answer   answerof-161847 ' value='656211'   \/><label for='answer-id-656211' id='answer-label-656211' class=' answer'><span>Workshops.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161847[]' id='answer-id-656212' class='answer   answerof-161847 ' value='656212'   \/><label for='answer-id-656212' id='answer-label-656212' class=' answer'><span>Surveys.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161847[]' id='answer-id-656213' class='answer   answerof-161847 ' value='656213'   \/><label for='answer-id-656213' id='answer-label-656213' class=' answer'><span>Interviews.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161847[]' id='answer-id-656214' class='answer   answerof-161847 ' value='656214'   \/><label for='answer-id-656214' id='answer-label-656214' class=' answer'><span>Observation.<\/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-161848'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Information regarding assumptions and procedures to be employed.<\/div><input type='hidden' name='question_id[]' id='qID_16' value='161848' \/><input type='hidden' id='answerType161848' 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-161848[]' id='answer-id-656215' class='answer   answerof-161848 ' value='656215'   \/><label for='answer-id-656215' id='answer-label-656215' class=' answer'><span>1 and 4 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161848[]' id='answer-id-656216' class='answer   answerof-161848 ' value='656216'   \/><label for='answer-id-656216' id='answer-label-656216' class=' answer'><span>2 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161848[]' id='answer-id-656217' class='answer   answerof-161848 ' value='656217'   \/><label for='answer-id-656217' id='answer-label-656217' class=' answer'><span>1, 2, and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161848[]' id='answer-id-656218' class='answer   answerof-161848 ' value='656218'   \/><label for='answer-id-656218' id='answer-label-656218' class=' answer'><span>1, 2, 3, and 4<\/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-161849'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='161849' \/><input type='hidden' id='answerType161849' 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-161849[]' id='answer-id-656219' class='answer   answerof-161849 ' value='656219'   \/><label for='answer-id-656219' id='answer-label-656219' class=' answer'><span>Maintaining industry-specific knowledge appropriate to the organization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161849[]' id='answer-id-656220' class='answer   answerof-161849 ' value='656220'   \/><label for='answer-id-656220' id='answer-label-656220' class=' answer'><span>Assessing how IT contributes to organization objectives, risks, and relevance to audit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161849[]' id='answer-id-656221' class='answer   answerof-161849 ' value='656221'   \/><label for='answer-id-656221' id='answer-label-656221' class=' answer'><span>Maintaining technical aspects of accounting standards and reporting processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161849[]' id='answer-id-656222' class='answer   answerof-161849 ' value='656222'   \/><label for='answer-id-656222' id='answer-label-656222' class=' answer'><span>Understanding regulatory and legal framework and assessing its relevance.<\/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-161850'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>When developing the organization's first risk universe, which of the following would the chief audit executive be least likely to consider?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='161850' \/><input type='hidden' id='answerType161850' 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-161850[]' id='answer-id-656223' class='answer   answerof-161850 ' value='656223'   \/><label for='answer-id-656223' id='answer-label-656223' class=' answer'><span>The amount of risk that an organization is willing to seek or accept.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161850[]' id='answer-id-656224' class='answer   answerof-161850 ' value='656224'   \/><label for='answer-id-656224' id='answer-label-656224' class=' answer'><span>The extent and degree of interdependency for identified key risks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161850[]' id='answer-id-656225' class='answer   answerof-161850 ' value='656225'   \/><label for='answer-id-656225' id='answer-label-656225' class=' answer'><span>The boundaries established to manage the amount of risk taken.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161850[]' id='answer-id-656226' class='answer   answerof-161850 ' value='656226'   \/><label for='answer-id-656226' id='answer-label-656226' class=' answer'><span>The exposure to risks following management's risk responses.<\/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-161851'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>A multinational organization has asked the internal audit activity to assist in setting up the organization's risk management system. The chief audit executive (CAE) agrees to take on the engagement as a consultant. <br \/>\r<br>Which of the following tasks is appropriate for the CAE to undertake?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='161851' \/><input type='hidden' id='answerType161851' 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-161851[]' id='answer-id-656227' class='answer   answerof-161851 ' value='656227'   \/><label for='answer-id-656227' id='answer-label-656227' class=' answer'><span>Coordinate and facilitate risk workshops for management to attend.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161851[]' id='answer-id-656228' class='answer   answerof-161851 ' value='656228'   \/><label for='answer-id-656228' id='answer-label-656228' class=' answer'><span>Establish the degree of risk appetite for management to accept.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161851[]' id='answer-id-656229' class='answer   answerof-161851 ' value='656229'   \/><label for='answer-id-656229' id='answer-label-656229' class=' answer'><span>Set risk indicators and mitigation plans for management to implement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161851[]' id='answer-id-656230' class='answer   answerof-161851 ' value='656230'   \/><label for='answer-id-656230' id='answer-label-656230' class=' answer'><span>Determine the number of significant risks for management to report to the board.<\/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-161852'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following is a common type of payroll fraud?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='161852' \/><input type='hidden' id='answerType161852' 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-161852[]' id='answer-id-656231' class='answer   answerof-161852 ' value='656231'   \/><label for='answer-id-656231' id='answer-label-656231' class=' answer'><span>Unauthorized overtime.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161852[]' id='answer-id-656232' class='answer   answerof-161852 ' value='656232'   \/><label for='answer-id-656232' id='answer-label-656232' class=' answer'><span>Fictitious employees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161852[]' id='answer-id-656233' class='answer   answerof-161852 ' value='656233'   \/><label for='answer-id-656233' id='answer-label-656233' class=' answer'><span>Unearned bonuses or commissions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161852[]' id='answer-id-656234' class='answer   answerof-161852 ' value='656234'   \/><label for='answer-id-656234' id='answer-label-656234' class=' answer'><span>Skimming.<\/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-161853'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Which of the following types of fraud includes embezzlement?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='161853' \/><input type='hidden' id='answerType161853' 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-161853[]' id='answer-id-656235' class='answer   answerof-161853 ' value='656235'   \/><label for='answer-id-656235' id='answer-label-656235' class=' answer'><span>Fraudulent statements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161853[]' id='answer-id-656236' class='answer   answerof-161853 ' value='656236'   \/><label for='answer-id-656236' id='answer-label-656236' class=' answer'><span>Bribery.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161853[]' id='answer-id-656237' class='answer   answerof-161853 ' value='656237'   \/><label for='answer-id-656237' id='answer-label-656237' class=' answer'><span>Misappropriation of assets.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161853[]' id='answer-id-656238' class='answer   answerof-161853 ' value='656238'   \/><label for='answer-id-656238' id='answer-label-656238' class=' answer'><span>Corruption.<\/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-161854'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>A furniture manufacturer has installed a new fire sprinkler system at its central warehouse and canceled the existing fire insurance policy on that property. <br \/>\r<br>What change of risk response strategy does this course of action most likely reflect?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='161854' \/><input type='hidden' id='answerType161854' 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-161854[]' id='answer-id-656239' class='answer   answerof-161854 ' value='656239'   \/><label for='answer-id-656239' id='answer-label-656239' class=' answer'><span>From sharing to reduction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161854[]' id='answer-id-656240' class='answer   answerof-161854 ' value='656240'   \/><label for='answer-id-656240' id='answer-label-656240' class=' answer'><span>From acceptance to reduction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161854[]' id='answer-id-656241' class='answer   answerof-161854 ' value='656241'   \/><label for='answer-id-656241' id='answer-label-656241' class=' answer'><span>From sharing to avoidance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161854[]' id='answer-id-656242' class='answer   answerof-161854 ' value='656242'   \/><label for='answer-id-656242' id='answer-label-656242' class=' answer'><span>From acceptance to avoidance.<\/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-161855'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Providing a vehicle driver handbook is an example of a detective control.<\/div><input type='hidden' name='question_id[]' id='qID_23' value='161855' \/><input type='hidden' id='answerType161855' 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-161855[]' id='answer-id-656243' class='answer   answerof-161855 ' value='656243'   \/><label for='answer-id-656243' id='answer-label-656243' class=' answer'><span>1 and 2.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161855[]' id='answer-id-656244' class='answer   answerof-161855 ' value='656244'   \/><label for='answer-id-656244' id='answer-label-656244' class=' answer'><span>1 and 4.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161855[]' id='answer-id-656245' class='answer   answerof-161855 ' value='656245'   \/><label for='answer-id-656245' id='answer-label-656245' class=' answer'><span>2 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161855[]' id='answer-id-656246' class='answer   answerof-161855 ' value='656246'   \/><label for='answer-id-656246' id='answer-label-656246' class=' answer'><span>3 and 4.<\/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-161856'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Which of the following scenarios best illustrates a rationalization as the root cause of potential fraud?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='161856' \/><input type='hidden' id='answerType161856' 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-161856[]' id='answer-id-656247' class='answer   answerof-161856 ' value='656247'   \/><label for='answer-id-656247' id='answer-label-656247' class=' answer'><span>Managers who have been with the organization for several decades become aware that newly hired, younger managers are being moved more quickly into senior positions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161856[]' id='answer-id-656248' class='answer   answerof-161856 ' value='656248'   \/><label for='answer-id-656248' id='answer-label-656248' class=' answer'><span>The controller at a nationwide manufacturing company recently opted to no longer require two-week mandatory vacations for accounting staff.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161856[]' id='answer-id-656249' class='answer   answerof-161856 ' value='656249'   \/><label for='answer-id-656249' id='answer-label-656249' class=' answer'><span>Security cameras that monitor cash handling at the register are not functioning.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161856[]' id='answer-id-656250' class='answer   answerof-161856 ' value='656250'   \/><label for='answer-id-656250' id='answer-label-656250' class=' answer'><span>The organization is slowly phasing out three mature products that produce the highest commissions for the sales staff.<\/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-161857'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Who is responsible for setting the risk appetite?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='161857' \/><input type='hidden' id='answerType161857' 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-161857[]' id='answer-id-656251' class='answer   answerof-161857 ' value='656251'   \/><label for='answer-id-656251' id='answer-label-656251' class=' answer'><span>External auditors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161857[]' id='answer-id-656252' class='answer   answerof-161857 ' value='656252'   \/><label for='answer-id-656252' id='answer-label-656252' class=' answer'><span>Chief risk officer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161857[]' id='answer-id-656253' class='answer   answerof-161857 ' value='656253'   \/><label for='answer-id-656253' id='answer-label-656253' class=' answer'><span>Operations management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161857[]' id='answer-id-656254' class='answer   answerof-161857 ' value='656254'   \/><label for='answer-id-656254' id='answer-label-656254' class=' answer'><span>Board of directors.<\/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-161858'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Which of the following offers the best evidence that the internal audit activity has achieved organizational independence?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='161858' \/><input type='hidden' id='answerType161858' 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-161858[]' id='answer-id-656255' class='answer   answerof-161858 ' value='656255'   \/><label for='answer-id-656255' id='answer-label-656255' class=' answer'><span>An independent third party has assessed the organization's system of internal controls to be adequate and effective.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161858[]' id='answer-id-656256' class='answer   answerof-161858 ' value='656256'   \/><label for='answer-id-656256' id='answer-label-656256' class=' answer'><span>The chief audit executive reports both functionally and administratively to the CE<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161858[]' id='answer-id-656257' class='answer   answerof-161858 ' value='656257'   \/><label for='answer-id-656257' id='answer-label-656257' class=' answer'><span>The internal audit charter is drafted properly and approved by the appropriate parties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161858[]' id='answer-id-656258' class='answer   answerof-161858 ' value='656258'   \/><label for='answer-id-656258' id='answer-label-656258' class=' answer'><span>The mission statement and strategy of the internal audit activity demonstrates alignment to organizational objectives.<\/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-161859'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Losing bidders are hired as subcontractors.<\/div><input type='hidden' name='question_id[]' id='qID_27' value='161859' \/><input type='hidden' id='answerType161859' 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-161859[]' id='answer-id-656259' class='answer   answerof-161859 ' value='656259'   \/><label for='answer-id-656259' id='answer-label-656259' class=' answer'><span>1 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161859[]' id='answer-id-656260' class='answer   answerof-161859 ' value='656260'   \/><label for='answer-id-656260' id='answer-label-656260' class=' answer'><span>2 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161859[]' id='answer-id-656261' class='answer   answerof-161859 ' value='656261'   \/><label for='answer-id-656261' id='answer-label-656261' class=' answer'><span>1 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161859[]' id='answer-id-656262' class='answer   answerof-161859 ' value='656262'   \/><label for='answer-id-656262' id='answer-label-656262' class=' answer'><span>2 and 4.<\/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-161860'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='161860' \/><input type='hidden' id='answerType161860' 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-161860[]' id='answer-id-656263' class='answer   answerof-161860 ' value='656263'   \/><label for='answer-id-656263' id='answer-label-656263' class=' answer'><span>Manage and support a quality assurance and improvement program.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161860[]' id='answer-id-656264' class='answer   answerof-161860 ' value='656264'   \/><label for='answer-id-656264' id='answer-label-656264' class=' answer'><span>Maintain industry-specific knowledge appropriate to the audit engagements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161860[]' id='answer-id-656265' class='answer   answerof-161860 ' value='656265'   \/><label for='answer-id-656265' id='answer-label-656265' class=' answer'><span>Set clear performance standards for internal auditors and the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161860[]' id='answer-id-656266' class='answer   answerof-161860 ' value='656266'   \/><label for='answer-id-656266' id='answer-label-656266' class=' answer'><span>Apply problem-solving techniques for routine situations.<\/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-161861'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>According to The IIA's Code of Ethics, which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='161861' \/><input type='hidden' id='answerType161861' 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-161861[]' id='answer-id-656267' class='answer   answerof-161861 ' value='656267'   \/><label for='answer-id-656267' id='answer-label-656267' class=' answer'><span>When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161861[]' id='answer-id-656268' class='answer   answerof-161861 ' value='656268'   \/><label for='answer-id-656268' id='answer-label-656268' class=' answer'><span>When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161861[]' id='answer-id-656269' class='answer   answerof-161861 ' value='656269'   \/><label for='answer-id-656269' id='answer-label-656269' class=' answer'><span>When an internal auditor disagrees with the treatment received by workers in the organization's foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161861[]' id='answer-id-656270' class='answer   answerof-161861 ' value='656270'   \/><label for='answer-id-656270' id='answer-label-656270' class=' answer'><span>When an internal auditor continues with an audit engagement, despite the audit client's claims that the work performed is unnecessary and redundant he fails to demonstrate competency.<\/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-161862'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='161862' \/><input type='hidden' id='answerType161862' 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-161862[]' id='answer-id-656271' class='answer   answerof-161862 ' value='656271'   \/><label for='answer-id-656271' id='answer-label-656271' class=' answer'><span>Adequate signs are in place to assist in locating safety equipment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161862[]' id='answer-id-656272' class='answer   answerof-161862 ' value='656272'   \/><label for='answer-id-656272' id='answer-label-656272' class=' answer'><span>Servers are secured individually to their racks by locks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161862[]' id='answer-id-656273' class='answer   answerof-161862 ' value='656273'   \/><label for='answer-id-656273' id='answer-label-656273' class=' answer'><span>Foam fire extinguishers are operable to protect against electrical fires.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161862[]' id='answer-id-656274' class='answer   answerof-161862 ' value='656274'   \/><label for='answer-id-656274' id='answer-label-656274' class=' answer'><span>Swipe card access is required to gain access to the server room.<\/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-161863'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Which of the following are generally recognized as essential elements of a corporate social responsibility program?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='161863' \/><input type='hidden' id='answerType161863' 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-161863[]' id='answer-id-656275' class='answer   answerof-161863 ' value='656275'   \/><label for='answer-id-656275' id='answer-label-656275' class=' answer'><span>Human rights and the environment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161863[]' id='answer-id-656276' class='answer   answerof-161863 ' value='656276'   \/><label for='answer-id-656276' id='answer-label-656276' class=' answer'><span>Organizational governance and financial reporting.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161863[]' id='answer-id-656277' class='answer   answerof-161863 ' value='656277'   \/><label for='answer-id-656277' id='answer-label-656277' class=' answer'><span>Fair operating practices and government regulation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161863[]' id='answer-id-656278' class='answer   answerof-161863 ' value='656278'   \/><label for='answer-id-656278' id='answer-label-656278' class=' answer'><span>Consumer issues and return on investment.<\/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-161864'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located. <br \/>\r<br>Which of the following principles likely guided the CAE's decision?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='161864' \/><input type='hidden' id='answerType161864' 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-161864[]' id='answer-id-656279' class='answer   answerof-161864 ' value='656279'   \/><label for='answer-id-656279' id='answer-label-656279' class=' answer'><span>Objectivity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161864[]' id='answer-id-656280' class='answer   answerof-161864 ' value='656280'   \/><label for='answer-id-656280' id='answer-label-656280' class=' answer'><span>Proficiency.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161864[]' id='answer-id-656281' class='answer   answerof-161864 ' value='656281'   \/><label for='answer-id-656281' id='answer-label-656281' class=' answer'><span>Independence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161864[]' id='answer-id-656282' class='answer   answerof-161864 ' value='656282'   \/><label for='answer-id-656282' id='answer-label-656282' class=' answer'><span>Due professional care.<\/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-161865'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>According to IIA guidance, which of the following must the internal auditor consider to meet the requirements for due professional care?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='161865' \/><input type='hidden' id='answerType161865' 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-161865[]' id='answer-id-656283' class='answer   answerof-161865 ' value='656283'   \/><label for='answer-id-656283' id='answer-label-656283' class=' answer'><span>The training courses necessary to enhance the internal auditor's knowledge, skills, and other competencies.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161865[]' id='answer-id-656284' class='answer   answerof-161865 ' value='656284'   \/><label for='answer-id-656284' id='answer-label-656284' class=' answer'><span>The appropriateness of assurance procedures necessary to ensure all significant risks will be identified.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161865[]' id='answer-id-656285' class='answer   answerof-161865 ' value='656285'   \/><label for='answer-id-656285' id='answer-label-656285' class=' answer'><span>The use of innovative technology and data analysis techniques.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161865[]' id='answer-id-656286' class='answer   answerof-161865 ' value='656286'   \/><label for='answer-id-656286' id='answer-label-656286' class=' answer'><span>The extent of work needed to achieve the engagement\u2019s objectives.<\/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-161866'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Which of the following is not an objective of internal control?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='161866' \/><input type='hidden' id='answerType161866' 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-161866[]' id='answer-id-656287' class='answer   answerof-161866 ' value='656287'   \/><label for='answer-id-656287' id='answer-label-656287' class=' answer'><span>Compliance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161866[]' id='answer-id-656288' class='answer   answerof-161866 ' value='656288'   \/><label for='answer-id-656288' id='answer-label-656288' class=' answer'><span>Accuracy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161866[]' id='answer-id-656289' class='answer   answerof-161866 ' value='656289'   \/><label for='answer-id-656289' id='answer-label-656289' class=' answer'><span>Efficiency.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161866[]' id='answer-id-656290' class='answer   answerof-161866 ' value='656290'   \/><label for='answer-id-656290' id='answer-label-656290' class=' answer'><span>Validation.<\/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-161867'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>A headquarters-based internal auditor has been sent to a major overseas subsidiary to conduct various engagements. Initially, the internal auditor spends time to become familiar with local customs and organization's practices while embarking on the first engagement. <br \/>\r<br>Which of the following competencies does the internal auditor exercise?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='161867' \/><input type='hidden' id='answerType161867' 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-161867[]' id='answer-id-656291' class='answer   answerof-161867 ' value='656291'   \/><label for='answer-id-656291' id='answer-label-656291' class=' answer'><span>Communication.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161867[]' id='answer-id-656292' class='answer   answerof-161867 ' value='656292'   \/><label for='answer-id-656292' id='answer-label-656292' class=' answer'><span>Persuasion and collaboration.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161867[]' id='answer-id-656293' class='answer   answerof-161867 ' value='656293'   \/><label for='answer-id-656293' id='answer-label-656293' class=' answer'><span>Business acumen.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161867[]' id='answer-id-656294' class='answer   answerof-161867 ' value='656294'   \/><label for='answer-id-656294' id='answer-label-656294' class=' answer'><span>Governance, risk, and 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-161868'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>According to IIA guidance, which of the following statements describes one of the similarities between assurance and consulting services?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='161868' \/><input type='hidden' id='answerType161868' 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-161868[]' id='answer-id-656295' class='answer   answerof-161868 ' value='656295'   \/><label for='answer-id-656295' id='answer-label-656295' class=' answer'><span>When planning assurance and consulting engagements, internal auditors must consider the strategies and objectives of the activity being reviewed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161868[]' id='answer-id-656296' class='answer   answerof-161868 ' value='656296'   \/><label for='answer-id-656296' id='answer-label-656296' class=' answer'><span>Internal auditors determine the engagement objectives, scope, and work program for both assurance and consulting services.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161868[]' id='answer-id-656297' class='answer   answerof-161868 ' value='656297'   \/><label for='answer-id-656297' id='answer-label-656297' class=' answer'><span>Internal auditors must not provide assurance or consulting services for an activity for which they had responsibility within the previous year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161868[]' id='answer-id-656298' class='answer   answerof-161868 ' value='656298'   \/><label for='answer-id-656298' id='answer-label-656298' class=' answer'><span>Both assurance and consulting services generally involve the internal auditor, the area under review, senior management, and the board.<\/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-161869'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>An organization is beginning to implement an enterprise risk management program. One of the first steps is to develop a common risk language. <br \/>\r<br>Which of the following statements about a common risk language is true?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='161869' \/><input type='hidden' id='answerType161869' 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-161869[]' id='answer-id-656299' class='answer   answerof-161869 ' value='656299'   \/><label for='answer-id-656299' id='answer-label-656299' class=' answer'><span>Management will be able to reduce inherent risk because they will have a better understanding of risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161869[]' id='answer-id-656300' class='answer   answerof-161869 ' value='656300'   \/><label for='answer-id-656300' id='answer-label-656300' class=' answer'><span>Internal auditors will be able to reduce their sample sizes because controls will be more consistent.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161869[]' id='answer-id-656301' class='answer   answerof-161869 ' value='656301'   \/><label for='answer-id-656301' id='answer-label-656301' class=' answer'><span>Stakeholders will have more assurance that the risks are assessed consistently.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161869[]' id='answer-id-656302' class='answer   answerof-161869 ' value='656302'   \/><label for='answer-id-656302' id='answer-label-656302' class=' answer'><span>Decision makers will understand that the likelihood of missing or ineffective controls will be reduced.<\/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-161870'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Which of the following is the primary engagement responsibility of an entry-level internal auditor?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='161870' \/><input type='hidden' id='answerType161870' 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-161870[]' id='answer-id-656303' class='answer   answerof-161870 ' value='656303'   \/><label for='answer-id-656303' id='answer-label-656303' class=' answer'><span>Leadership.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161870[]' id='answer-id-656304' class='answer   answerof-161870 ' value='656304'   \/><label for='answer-id-656304' id='answer-label-656304' class=' answer'><span>Documentation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161870[]' id='answer-id-656305' class='answer   answerof-161870 ' value='656305'   \/><label for='answer-id-656305' id='answer-label-656305' class=' answer'><span>Analysis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161870[]' id='answer-id-656306' class='answer   answerof-161870 ' value='656306'   \/><label for='answer-id-656306' id='answer-label-656306' class=' answer'><span>Reporting.<\/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-161871'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='161871' \/><input type='hidden' id='answerType161871' 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-161871[]' id='answer-id-656307' class='answer   answerof-161871 ' value='656307'   \/><label for='answer-id-656307' id='answer-label-656307' class=' answer'><span>Attending annual professional conferences and seminars.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161871[]' id='answer-id-656308' class='answer   answerof-161871 ' value='656308'   \/><label for='answer-id-656308' id='answer-label-656308' class=' answer'><span>Participating in on-the-job training in various departments of the organization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161871[]' id='answer-id-656309' class='answer   answerof-161871 ' value='656309'   \/><label for='answer-id-656309' id='answer-label-656309' class=' answer'><span>Pursuing as many professional certifications as possible.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161871[]' id='answer-id-656310' class='answer   answerof-161871 ' value='656310'   \/><label for='answer-id-656310' id='answer-label-656310' class=' answer'><span>Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.<\/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-161872'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='161872' \/><input type='hidden' id='answerType161872' 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-161872[]' id='answer-id-656311' class='answer   answerof-161872 ' value='656311'   \/><label for='answer-id-656311' id='answer-label-656311' class=' answer'><span>Negotiation and conflict resolution.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161872[]' id='answer-id-656312' class='answer   answerof-161872 ' value='656312'   \/><label for='answer-id-656312' id='answer-label-656312' class=' answer'><span>Project management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161872[]' id='answer-id-656313' class='answer   answerof-161872 ' value='656313'   \/><label for='answer-id-656313' id='answer-label-656313' class=' answer'><span>Financial accounting.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161872[]' id='answer-id-656314' class='answer   answerof-161872 ' value='656314'   \/><label for='answer-id-656314' id='answer-label-656314' class=' answer'><span>Ethics and fraud.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-161873'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period. <br \/>\r<br>Which of the following represents the organization's residual risk for online customer payments due?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='161873' \/><input type='hidden' id='answerType161873' 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-161873[]' id='answer-id-656315' class='answer   answerof-161873 ' value='656315'   \/><label for='answer-id-656315' id='answer-label-656315' class=' answer'><span>$11, 250<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161873[]' id='answer-id-656316' class='answer   answerof-161873 ' value='656316'   \/><label for='answer-id-656316' id='answer-label-656316' class=' answer'><span>$25, 000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161873[]' id='answer-id-656317' class='answer   answerof-161873 ' value='656317'   \/><label for='answer-id-656317' id='answer-label-656317' class=' answer'><span>$33, 750<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161873[]' id='answer-id-656318' class='answer   answerof-161873 ' value='656318'   \/><label for='answer-id-656318' id='answer-label-656318' class=' answer'><span>$45, 000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-161874'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Which of the following is the most common way that occupational fraud is detected?<\/div><input type='hidden' name='question_id[]' id='qID_42' value='161874' \/><input type='hidden' id='answerType161874' 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-161874[]' id='answer-id-656319' class='answer   answerof-161874 ' value='656319'   \/><label for='answer-id-656319' id='answer-label-656319' class=' answer'><span>Internal audits.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161874[]' id='answer-id-656320' class='answer   answerof-161874 ' value='656320'   \/><label for='answer-id-656320' id='answer-label-656320' class=' answer'><span>Whistleblower hotline.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161874[]' id='answer-id-656321' class='answer   answerof-161874 ' value='656321'   \/><label for='answer-id-656321' id='answer-label-656321' class=' answer'><span>Key controls.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161874[]' id='answer-id-656322' class='answer   answerof-161874 ' value='656322'   \/><label for='answer-id-656322' id='answer-label-656322' class=' answer'><span>External audits.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-161875'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>An internal auditor completed an audit of a bank's loan department and found all significant risks to be managed adequately through effective internal controls. <br \/>\r<br>Which of the following would be an appropriate conclusion to report to management?<\/div><input type='hidden' name='question_id[]' id='qID_43' value='161875' \/><input type='hidden' id='answerType161875' 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-161875[]' id='answer-id-656323' class='answer   answerof-161875 ' value='656323'   \/><label for='answer-id-656323' id='answer-label-656323' class=' answer'><span>The residual risk is lower than or equal to the risk appetite.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161875[]' id='answer-id-656324' class='answer   answerof-161875 ' value='656324'   \/><label for='answer-id-656324' id='answer-label-656324' class=' answer'><span>The residual risk is higher than or equal to the risk appetite.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161875[]' id='answer-id-656325' class='answer   answerof-161875 ' value='656325'   \/><label for='answer-id-656325' id='answer-label-656325' class=' answer'><span>The inherent risk is lower than or equal to the risk tolerance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161875[]' id='answer-id-656326' class='answer   answerof-161875 ' value='656326'   \/><label for='answer-id-656326' id='answer-label-656326' class=' answer'><span>The inherent risk is higher than or equal to the risk tolerance.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-161876'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>An organization is facing a financial downturn and needs to impose major budget reductions to all departments. <br \/>\r<br>According to MA guidance, which of the following actions is most appropriate for the board to take to evaluate the potential impact on the internal audit activity?<\/div><input type='hidden' name='question_id[]' id='qID_44' value='161876' \/><input type='hidden' id='answerType161876' 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-161876[]' id='answer-id-656327' class='answer   answerof-161876 ' value='656327'   \/><label for='answer-id-656327' id='answer-label-656327' class=' answer'><span>Ask management to determine which internal audit engagements are lower risk and could be considered for removal from the annual audit plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161876[]' id='answer-id-656328' class='answer   answerof-161876 ' value='656328'   \/><label for='answer-id-656328' id='answer-label-656328' class=' answer'><span>Ask appropriate stakeholders for their opinion on the potential impacts of reducing the scope of the internal audit plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161876[]' id='answer-id-656329' class='answer   answerof-161876 ' value='656329'   \/><label for='answer-id-656329' id='answer-label-656329' class=' answer'><span>Ask the chief audit executive to determine whether budgetary limitations impede the ability of the internal audit activity to execute its responsibilities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161876[]' id='answer-id-656330' class='answer   answerof-161876 ' value='656330'   \/><label for='answer-id-656330' id='answer-label-656330' class=' answer'><span>Ask The human resources department to determine how the annual compensation and salary of the audit staff could be adjusted to achieve savings.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-161877'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>Which of the following control activities is the most effective to ensure users' levels of access are appropriate for their current roles?<\/div><input type='hidden' name='question_id[]' id='qID_45' value='161877' \/><input type='hidden' id='answerType161877' 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-161877[]' id='answer-id-656331' class='answer   answerof-161877 ' value='656331'   \/><label for='answer-id-656331' id='answer-label-656331' class=' answer'><span>The human resources department generates a monthly list of terminated and transferred \r\nemployees and requests IT to update the user access as required.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161877[]' id='answer-id-656332' class='answer   answerof-161877 ' value='656332'   \/><label for='answer-id-656332' id='answer-label-656332' class=' answer'><span>Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161877[]' id='answer-id-656333' class='answer   answerof-161877 ' value='656333'   \/><label for='answer-id-656333' id='answer-label-656333' class=' answer'><span>System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161877[]' id='answer-id-656334' class='answer   answerof-161877 ' value='656334'   \/><label for='answer-id-656334' id='answer-label-656334' class=' answer'><span>Department managers are required to perform periodic user access reviews of relevant systems and applications.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-161878'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>Which of the following items should the chief audit executive disclose to senior management regarding the results of the internal audit activity's quality assessments?<\/div><input type='hidden' name='question_id[]' id='qID_46' value='161878' \/><input type='hidden' id='answerType161878' 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-161878[]' id='answer-id-656335' class='answer   answerof-161878 ' value='656335'   \/><label for='answer-id-656335' id='answer-label-656335' class=' answer'><span>The internal audit activity's plan for resource allocation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161878[]' id='answer-id-656336' class='answer   answerof-161878 ' value='656336'   \/><label for='answer-id-656336' id='answer-label-656336' class=' answer'><span>The amount of the organization's potential loss prevented by the risk-based auditing of the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161878[]' id='answer-id-656337' class='answer   answerof-161878 ' value='656337'   \/><label for='answer-id-656337' id='answer-label-656337' class=' answer'><span>The number of audits from the annual internal audit plan that were completed last year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161878[]' id='answer-id-656338' class='answer   answerof-161878 ' value='656338'   \/><label for='answer-id-656338' id='answer-label-656338' class=' answer'><span>The qualifications and independence of the assessment Team.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-161879'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>Which of the following is an example of a management control technique?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='161879' \/><input type='hidden' id='answerType161879' 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-161879[]' id='answer-id-656339' class='answer   answerof-161879 ' value='656339'   \/><label for='answer-id-656339' id='answer-label-656339' class=' answer'><span>A budget.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161879[]' id='answer-id-656340' class='answer   answerof-161879 ' value='656340'   \/><label for='answer-id-656340' id='answer-label-656340' class=' answer'><span>A risk assessment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161879[]' id='answer-id-656341' class='answer   answerof-161879 ' value='656341'   \/><label for='answer-id-656341' id='answer-label-656341' class=' answer'><span>The board of directors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161879[]' id='answer-id-656342' class='answer   answerof-161879 ' value='656342'   \/><label for='answer-id-656342' id='answer-label-656342' class=' answer'><span>The control environment.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-161880'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>An internal auditor uses a predefined macro provided in a popular spreadsheet application to verify the present value of the organization's investments. <br \/>\r<br>Which of the following is the most appropriate course of action regarding the auditor's use of this functionality?<\/div><input type='hidden' name='question_id[]' id='qID_48' value='161880' \/><input type='hidden' id='answerType161880' 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-161880[]' id='answer-id-656343' class='answer   answerof-161880 ' value='656343'   \/><label for='answer-id-656343' id='answer-label-656343' class=' answer'><span>The auditor should accept the calculations generated by the function, as any further work or documentation would be inefficient.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161880[]' id='answer-id-656344' class='answer   answerof-161880 ' value='656344'   \/><label for='answer-id-656344' id='answer-label-656344' class=' answer'><span>The auditor should perform a manual recalculation of several results to validate and document the results.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161880[]' id='answer-id-656345' class='answer   answerof-161880 ' value='656345'   \/><label for='answer-id-656345' id='answer-label-656345' class=' answer'><span>The auditor should review the programming of the macro before its use to ensure that it is appropriate for the required calculations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161880[]' id='answer-id-656346' class='answer   answerof-161880 ' value='656346'   \/><label for='answer-id-656346' id='answer-label-656346' class=' answer'><span>The auditor should tabulate the results in the spreadsheet to ensure the macro has generated the correct results for all calculations.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-161881'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>CORRECT TEXT <br \/>\r<br>According to IIA guidance, which of the following scenarios demonstrates an internal auditor exercising due professional care? <br \/>\r<br>When auditing investments, the auditor identified instruments with which he was unfamiliar. He decided not to select that type of investment in his sample, as he did not have the knowledge needed to<\/div><input type='hidden' name='question_id[]' id='qID_49' value='161881' \/><input type='hidden' id='answerType161881' 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-161881[]' id='answer-id-656347' class='answer   answerof-161881 ' value='656347'   \/><label for='answer-id-656347' id='answer-label-656347' class=' answer'><span>perform a proper assessment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161881[]' id='answer-id-656348' class='answer   answerof-161881 ' value='656348'   \/><label for='answer-id-656348' id='answer-label-656348' class=' answer'><span>An auditor was reviewing inventory counts conducted by the warehouse staff. One truck containing an immaterial amount of inventory was off-site and wasn't verified by the auditor.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161881[]' id='answer-id-656349' class='answer   answerof-161881 ' value='656349'   \/><label for='answer-id-656349' id='answer-label-656349' class=' answer'><span>An auditor visited a plant that produces a significant portion of the organization's inventory. The day he arrived, the plant manager was out sick, so the auditor issued the report without interviewing the manager.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161881[]' id='answer-id-656350' class='answer   answerof-161881 ' value='656350'   \/><label for='answer-id-656350' id='answer-label-656350' class=' answer'><span>An auditor in charge needed to have testing completed by the end of the month, but was behind schedule. He identified a junior auditor to conduct the work for him on a complex area of the organization.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-161882'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annua snowfall for the coming winter. <br \/>\r<br>Which of the following best describes this type of risk?<\/div><input type='hidden' name='question_id[]' id='qID_50' value='161882' \/><input type='hidden' id='answerType161882' 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-161882[]' id='answer-id-656351' class='answer   answerof-161882 ' value='656351'   \/><label for='answer-id-656351' id='answer-label-656351' class=' answer'><span>Residual.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161882[]' id='answer-id-656352' class='answer   answerof-161882 ' value='656352'   \/><label for='answer-id-656352' id='answer-label-656352' class=' answer'><span>Net.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161882[]' id='answer-id-656353' class='answer   answerof-161882 ' value='656353'   \/><label for='answer-id-656353' id='answer-label-656353' class=' answer'><span>Inherent.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161882[]' id='answer-id-656354' class='answer   answerof-161882 ' value='656354'   \/><label for='answer-id-656354' id='answer-label-656354' class=' answer'><span>Accepted.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-161883'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>An internal auditor needs to recommend a policy element to be included in an organization's code of ethics. <br \/>\r<br>Which of the following recommendations would be most effective?<\/div><input type='hidden' name='question_id[]' id='qID_51' value='161883' \/><input type='hidden' id='answerType161883' 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-161883[]' id='answer-id-656355' class='answer   answerof-161883 ' value='656355'   \/><label for='answer-id-656355' id='answer-label-656355' class=' answer'><span>Ethics should vary with local customs in the organization's foreign operations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161883[]' id='answer-id-656356' class='answer   answerof-161883 ' value='656356'   \/><label for='answer-id-656356' id='answer-label-656356' class=' answer'><span>Whistleblowing should be discouraged because it can cause distrust among employees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161883[]' id='answer-id-656357' class='answer   answerof-161883 ' value='656357'   \/><label for='answer-id-656357' id='answer-label-656357' class=' answer'><span>Ethical behavior should be incorporated into performance evaluations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161883[]' id='answer-id-656358' class='answer   answerof-161883 ' value='656358'   \/><label for='answer-id-656358' id='answer-label-656358' class=' answer'><span>Senior management should be granted specific exemptions to the code of ethics.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-161884'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>An internal audit activity is using the auditing-by-element approach to audit the organization's controls around corporate social responsibility. <br \/>\r<br>Which of the following would be an element for the internal audit activity to consider?<\/div><input type='hidden' name='question_id[]' id='qID_52' value='161884' \/><input type='hidden' id='answerType161884' 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-161884[]' id='answer-id-656359' class='answer   answerof-161884 ' value='656359'   \/><label for='answer-id-656359' id='answer-label-656359' class=' answer'><span>Working conditions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161884[]' id='answer-id-656360' class='answer   answerof-161884 ' value='656360'   \/><label for='answer-id-656360' id='answer-label-656360' class=' answer'><span>Employees' families.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161884[]' id='answer-id-656361' class='answer   answerof-161884 ' value='656361'   \/><label for='answer-id-656361' id='answer-label-656361' class=' answer'><span>Marketplace competition.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161884[]' id='answer-id-656362' class='answer   answerof-161884 ' value='656362'   \/><label for='answer-id-656362' id='answer-label-656362' class=' answer'><span>Shareholders and investors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-161885'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>According to IIA guidance, which of the following statements about working papers is false?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='161885' \/><input type='hidden' id='answerType161885' 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-161885[]' id='answer-id-656363' class='answer   answerof-161885 ' value='656363'   \/><label for='answer-id-656363' id='answer-label-656363' class=' answer'><span>They assist in the implementation of recommendations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161885[]' id='answer-id-656364' class='answer   answerof-161885 ' value='656364'   \/><label for='answer-id-656364' id='answer-label-656364' class=' answer'><span>They provide support for communication to third parties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161885[]' id='answer-id-656365' class='answer   answerof-161885 ' value='656365'   \/><label for='answer-id-656365' id='answer-label-656365' class=' answer'><span>They demonstrate compliance with auditing standards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161885[]' id='answer-id-656366' class='answer   answerof-161885 ' value='656366'   \/><label for='answer-id-656366' id='answer-label-656366' class=' answer'><span>They contribute to development of the internal audit staff.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-161886'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>Which of the following factors have the greatest influence on the independence of the internal audit activity?<\/div><input type='hidden' name='question_id[]' id='qID_54' value='161886' \/><input type='hidden' id='answerType161886' 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-161886[]' id='answer-id-656367' class='answer   answerof-161886 ' value='656367'   \/><label for='answer-id-656367' id='answer-label-656367' class=' answer'><span>Quality assessments and cultural biases of the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161886[]' id='answer-id-656368' class='answer   answerof-161886 ' value='656368'   \/><label for='answer-id-656368' id='answer-label-656368' class=' answer'><span>Rotational assignments and familiarity of the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161886[]' id='answer-id-656369' class='answer   answerof-161886 ' value='656369'   \/><label for='answer-id-656369' id='answer-label-656369' class=' answer'><span>Employee incentives and self review of the internal audit activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161886[]' id='answer-id-656370' class='answer   answerof-161886 ' value='656370'   \/><label for='answer-id-656370' id='answer-label-656370' class=' answer'><span>Organizational positioning and scope control of the internal audit activity.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-161887'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?<\/div><input type='hidden' name='question_id[]' id='qID_55' value='161887' \/><input type='hidden' id='answerType161887' 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-161887[]' id='answer-id-656371' class='answer   answerof-161887 ' value='656371'   \/><label for='answer-id-656371' id='answer-label-656371' class=' answer'><span>The internal audit activity has to ensure team members' objectivity is not impaired.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161887[]' id='answer-id-656372' class='answer   answerof-161887 ' value='656372'   \/><label for='answer-id-656372' id='answer-label-656372' class=' answer'><span>Auditors cannot participate in an assurance engagement of a function for which they previously performed a consulting engagement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161887[]' id='answer-id-656373' class='answer   answerof-161887 ' value='656373'   \/><label for='answer-id-656373' id='answer-label-656373' class=' answer'><span>The scope and objective of the engagement is agreed upon based on the engagement client's needs.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161887[]' id='answer-id-656374' class='answer   answerof-161887 ' value='656374'   \/><label for='answer-id-656374' id='answer-label-656374' class=' answer'><span>The internal audit activity must ensure management actions have been implemented effectively or risk accepted.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-161888'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Which of the following would be the most appropriate first step for the board to take when developing an effective system of governance?<\/div><input type='hidden' name='question_id[]' id='qID_56' value='161888' \/><input type='hidden' id='answerType161888' 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-161888[]' id='answer-id-656375' class='answer   answerof-161888 ' value='656375'   \/><label for='answer-id-656375' id='answer-label-656375' class=' answer'><span>Determine the organization's overall risk appetite.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161888[]' id='answer-id-656376' class='answer   answerof-161888 ' value='656376'   \/><label for='answer-id-656376' id='answer-label-656376' class=' answer'><span>Establish a governance committee.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161888[]' id='answer-id-656377' class='answer   answerof-161888 ' value='656377'   \/><label for='answer-id-656377' id='answer-label-656377' class=' answer'><span>Delegate authority to members of senior management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161888[]' id='answer-id-656378' class='answer   answerof-161888 ' value='656378'   \/><label for='answer-id-656378' id='answer-label-656378' class=' answer'><span>Identify key stakeholders and their expectations.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-161889'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Planning safeguards for assets in high-risk areas.<\/div><input type='hidden' name='question_id[]' id='qID_57' value='161889' \/><input type='hidden' id='answerType161889' 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-161889[]' id='answer-id-656379' class='answer   answerof-161889 ' value='656379'   \/><label for='answer-id-656379' id='answer-label-656379' class=' answer'><span>1 and 2.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161889[]' id='answer-id-656380' class='answer   answerof-161889 ' value='656380'   \/><label for='answer-id-656380' id='answer-label-656380' class=' answer'><span>1 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161889[]' id='answer-id-656381' class='answer   answerof-161889 ' value='656381'   \/><label for='answer-id-656381' id='answer-label-656381' class=' answer'><span>2 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161889[]' id='answer-id-656382' class='answer   answerof-161889 ' value='656382'   \/><label for='answer-id-656382' id='answer-label-656382' class=' answer'><span>3 and 4.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-161890'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>If appropriate safeguards exist, which of the following is considered a legitimate internal audit role within risk management at an organization?<\/div><input type='hidden' name='question_id[]' id='qID_58' value='161890' \/><input type='hidden' id='answerType161890' 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-161890[]' id='answer-id-656383' class='answer   answerof-161890 ' value='656383'   \/><label for='answer-id-656383' id='answer-label-656383' class=' answer'><span>Imposing risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161890[]' id='answer-id-656384' class='answer   answerof-161890 ' value='656384'   \/><label for='answer-id-656384' id='answer-label-656384' class=' answer'><span>Providing consolidated reporting on risks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161890[]' id='answer-id-656385' class='answer   answerof-161890 ' value='656385'   \/><label for='answer-id-656385' id='answer-label-656385' class=' answer'><span>Taking accountability for risk management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161890[]' id='answer-id-656386' class='answer   answerof-161890 ' value='656386'   \/><label for='answer-id-656386' id='answer-label-656386' class=' answer'><span>Making decisions on risk responses.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-161891'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>According to COSO, which of the following describes a principle related to the control environment?<\/div><input type='hidden' name='question_id[]' id='qID_59' value='161891' \/><input type='hidden' id='answerType161891' 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-161891[]' id='answer-id-656387' class='answer   answerof-161891 ' value='656387'   \/><label for='answer-id-656387' id='answer-label-656387' class=' answer'><span>The organization identifies and assesses changes that could significantly impact the system of internal control.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161891[]' id='answer-id-656388' class='answer   answerof-161891 ' value='656388'   \/><label for='answer-id-656388' id='answer-label-656388' class=' answer'><span>The organization establishes appropriate authorities and responsibilities in the pursuit of objectives.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161891[]' id='answer-id-656389' class='answer   answerof-161891 ' value='656389'   \/><label for='answer-id-656389' id='answer-label-656389' class=' answer'><span>The organization selects and develops control activities that contribute to the mitigation of risks.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161891[]' id='answer-id-656390' class='answer   answerof-161891 ' value='656390'   \/><label for='answer-id-656390' id='answer-label-656390' class=' answer'><span>The organization performs evaluations to ascertain whether internal control components are present and functioning.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-161892'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>The manager for an organization's accounts payable department resigned her post in that capacity. Three months later, she was recruited to the internal audit activity and has been working with the audit team for the last eight months. <br \/>\r<br>Which of the following assignments would the newly hired internal auditor be able to execute without any impairments to independence or objectivity?<\/div><input type='hidden' name='question_id[]' id='qID_60' value='161892' \/><input type='hidden' id='answerType161892' 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-161892[]' id='answer-id-656391' class='answer   answerof-161892 ' value='656391'   \/><label for='answer-id-656391' id='answer-label-656391' class=' answer'><span>An operations audit of the accounts payable department.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161892[]' id='answer-id-656392' class='answer   answerof-161892 ' value='656392'   \/><label for='answer-id-656392' id='answer-label-656392' class=' answer'><span>A consulting engagement related to a new accounts payable optimization initiative.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161892[]' id='answer-id-656393' class='answer   answerof-161892 ' value='656393'   \/><label for='answer-id-656393' id='answer-label-656393' class=' answer'><span>A review of the employees' sports club finances, which are overseen by the chief audit executive.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161892[]' id='answer-id-656394' class='answer   answerof-161892 ' value='656394'   \/><label for='answer-id-656394' id='answer-label-656394' class=' answer'><span>An assurance review for a sales program on which she previously provided consultation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-161893'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>A chief audit executive (CAE) is reviewing the internal audit activity's performance and is concerned that the average number of revisions to findings is steadily rising, making it increasingly difficult to trace the finding to the supporting evidence and workpapers. <br \/>\r<br>According to MA guidance, which of the following elements of the internal audit activity's quality assurance and improvement program would provide the CAE with the most helpful insight into the cause of this problem?<\/div><input type='hidden' name='question_id[]' id='qID_61' value='161893' \/><input type='hidden' id='answerType161893' 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-161893[]' id='answer-id-656395' class='answer   answerof-161893 ' value='656395'   \/><label for='answer-id-656395' id='answer-label-656395' class=' answer'><span>The overall effectiveness of the internal audit activity's periodic self assessments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161893[]' id='answer-id-656396' class='answer   answerof-161893 ' value='656396'   \/><label for='answer-id-656396' id='answer-label-656396' class=' answer'><span>The type of audit productivity and performance statistics reported.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161893[]' id='answer-id-656397' class='answer   answerof-161893 ' value='656397'   \/><label for='answer-id-656397' id='answer-label-656397' class=' answer'><span>The adequacy of the day-to-day supervision and review process.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161893[]' id='answer-id-656398' class='answer   answerof-161893 ' value='656398'   \/><label for='answer-id-656398' id='answer-label-656398' class=' answer'><span>The scope and frequency of external assessments.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-161894'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>Which of the following is most likely to be considered a control weakness?<\/div><input type='hidden' name='question_id[]' id='qID_62' value='161894' \/><input type='hidden' id='answerType161894' 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-161894[]' id='answer-id-656399' class='answer   answerof-161894 ' value='656399'   \/><label for='answer-id-656399' id='answer-label-656399' class=' answer'><span>Vendor invoice payment requests are accompanied by a purchase order and receiving report.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161894[]' id='answer-id-656400' class='answer   answerof-161894 ' value='656400'   \/><label for='answer-id-656400' id='answer-label-656400' class=' answer'><span>Purchase orders are typed by the purchasing department using prenumbered forms.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161894[]' id='answer-id-656401' class='answer   answerof-161894 ' value='656401'   \/><label for='answer-id-656401' id='answer-label-656401' class=' answer'><span>Buyers promptly update the official vendor listing as new supplier sources become known.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161894[]' id='answer-id-656402' class='answer   answerof-161894 ' value='656402'   \/><label for='answer-id-656402' id='answer-label-656402' class=' answer'><span>Department managers initiate purchase requests that must be approved by the plant superintendent.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-161895'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>A new director was hired to lead the internal audit activity at a small start-up company. <br \/>\r<br>Which of the following assignments would impair the director's independence?<\/div><input type='hidden' name='question_id[]' id='qID_63' value='161895' \/><input type='hidden' id='answerType161895' 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-161895[]' id='answer-id-656403' class='answer   answerof-161895 ' value='656403'   \/><label for='answer-id-656403' id='answer-label-656403' class=' answer'><span>Preparing the financial statements for the company's defined contribution plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161895[]' id='answer-id-656404' class='answer   answerof-161895 ' value='656404'   \/><label for='answer-id-656404' id='answer-label-656404' class=' answer'><span>Performing a pre-implementation review of the company's payroll application.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161895[]' id='answer-id-656405' class='answer   answerof-161895 ' value='656405'   \/><label for='answer-id-656405' id='answer-label-656405' class=' answer'><span>Providing the COBIT framework as a possible IT management tool.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161895[]' id='answer-id-656406' class='answer   answerof-161895 ' value='656406'   \/><label for='answer-id-656406' id='answer-label-656406' class=' answer'><span>Reviewing the company's policy for foreign currency translation adjustments for compliance with accounting standards.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-161896'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>A credit card company detects potential errors in credit card numbers by checking whether all entered numbers contain the correct amount of digits. <br \/>\r<br>This is an example of which of the following IT controls?<\/div><input type='hidden' name='question_id[]' id='qID_64' value='161896' \/><input type='hidden' id='answerType161896' 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-161896[]' id='answer-id-656407' class='answer   answerof-161896 ' value='656407'   \/><label for='answer-id-656407' id='answer-label-656407' class=' answer'><span>Logic test.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161896[]' id='answer-id-656408' class='answer   answerof-161896 ' value='656408'   \/><label for='answer-id-656408' id='answer-label-656408' class=' answer'><span>Check digits.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161896[]' id='answer-id-656409' class='answer   answerof-161896 ' value='656409'   \/><label for='answer-id-656409' id='answer-label-656409' class=' answer'><span>Data integrity tests.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161896[]' id='answer-id-656410' class='answer   answerof-161896 ' value='656410'   \/><label for='answer-id-656410' id='answer-label-656410' class=' answer'><span>Balancing control activities.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-161897'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>According to IIA guidance, the results of a formal quality assessment should be reported to which of the following groups?<\/div><input type='hidden' name='question_id[]' id='qID_65' value='161897' \/><input type='hidden' id='answerType161897' 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-161897[]' id='answer-id-656411' class='answer   answerof-161897 ' value='656411'   \/><label for='answer-id-656411' id='answer-label-656411' class=' answer'><span>The audit committee and senior management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161897[]' id='answer-id-656412' class='answer   answerof-161897 ' value='656412'   \/><label for='answer-id-656412' id='answer-label-656412' class=' answer'><span>The audit committee and the external auditors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161897[]' id='answer-id-656413' class='answer   answerof-161897 ' value='656413'   \/><label for='answer-id-656413' id='answer-label-656413' class=' answer'><span>Senior management and management of the audited area.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161897[]' id='answer-id-656414' class='answer   answerof-161897 ' value='656414'   \/><label for='answer-id-656414' id='answer-label-656414' class=' answer'><span>Senior management and the external auditors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-161898'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>Which of the following documents is most appropriate in promoting the objectivity of the internal audit activity?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='161898' \/><input type='hidden' id='answerType161898' 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-161898[]' id='answer-id-656415' class='answer   answerof-161898 ' value='656415'   \/><label for='answer-id-656415' id='answer-label-656415' class=' answer'><span>Usage of IT system policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161898[]' id='answer-id-656416' class='answer   answerof-161898 ' value='656416'   \/><label for='answer-id-656416' id='answer-label-656416' class=' answer'><span>Risk management framework.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161898[]' id='answer-id-656417' class='answer   answerof-161898 ' value='656417'   \/><label for='answer-id-656417' id='answer-label-656417' class=' answer'><span>Acceptance of gifts policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161898[]' id='answer-id-656418' class='answer   answerof-161898 ' value='656418'   \/><label for='answer-id-656418' id='answer-label-656418' class=' answer'><span>Personal responsibility policy.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-161899'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>An organization decides to take no action on one of its financial risks because the cost of implementing the control outweighs the value of the asset being protected. <br \/>\r<br>Which of the following best describes this risk strategy?<\/div><input type='hidden' name='question_id[]' id='qID_67' value='161899' \/><input type='hidden' id='answerType161899' 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-161899[]' id='answer-id-656419' class='answer   answerof-161899 ' value='656419'   \/><label for='answer-id-656419' id='answer-label-656419' class=' answer'><span>Risk avoidance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161899[]' id='answer-id-656420' class='answer   answerof-161899 ' value='656420'   \/><label for='answer-id-656420' id='answer-label-656420' class=' answer'><span>Risk-benefit analysis.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161899[]' id='answer-id-656421' class='answer   answerof-161899 ' value='656421'   \/><label for='answer-id-656421' id='answer-label-656421' class=' answer'><span>Risk sharing.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161899[]' id='answer-id-656422' class='answer   answerof-161899 ' value='656422'   \/><label for='answer-id-656422' id='answer-label-656422' class=' answer'><span>Risk acceptance.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-161900'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>An internal auditor in a small broadcasting organization was assigned to review the revenue collection process. The auditor discovered that some checks from three customers were never recorded in the organization's financial records. <br \/>\r<br>Which of the following documents would be the least useful for the auditor to verify the finding?<\/div><input type='hidden' name='question_id[]' id='qID_68' value='161900' \/><input type='hidden' id='answerType161900' 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-161900[]' id='answer-id-656423' class='answer   answerof-161900 ' value='656423'   \/><label for='answer-id-656423' id='answer-label-656423' class=' answer'><span>Bank statements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161900[]' id='answer-id-656424' class='answer   answerof-161900 ' value='656424'   \/><label for='answer-id-656424' id='answer-label-656424' class=' answer'><span>Customer confirmation letters.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161900[]' id='answer-id-656425' class='answer   answerof-161900 ' value='656425'   \/><label for='answer-id-656425' id='answer-label-656425' class=' answer'><span>Copies of sales invoices.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161900[]' id='answer-id-656426' class='answer   answerof-161900 ' value='656426'   \/><label for='answer-id-656426' id='answer-label-656426' class=' answer'><span>Copies of deposit slips.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-161901'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>Evidence of strong access controls ensuring that authorized individuals have access only to the functions related to their responsibilities.<\/div><input type='hidden' name='question_id[]' id='qID_69' value='161901' \/><input type='hidden' id='answerType161901' 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-161901[]' id='answer-id-656427' class='answer   answerof-161901 ' value='656427'   \/><label for='answer-id-656427' id='answer-label-656427' class=' answer'><span>1 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161901[]' id='answer-id-656428' class='answer   answerof-161901 ' value='656428'   \/><label for='answer-id-656428' id='answer-label-656428' class=' answer'><span>1 and 4.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161901[]' id='answer-id-656429' class='answer   answerof-161901 ' value='656429'   \/><label for='answer-id-656429' id='answer-label-656429' class=' answer'><span>2 and 3.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161901[]' id='answer-id-656430' class='answer   answerof-161901 ' value='656430'   \/><label for='answer-id-656430' id='answer-label-656430' class=' answer'><span>2 and 4.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-161902'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>A fraud investigation was completed by management, and a proven fraud was communicated to relevant authorities. <br \/>\r<br>According to MA guidance, which of the following roles would be most appropriate for the internal audit activity to undertake after the investigation?<\/div><input type='hidden' name='question_id[]' id='qID_70' value='161902' \/><input type='hidden' id='answerType161902' 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-161902[]' id='answer-id-656431' class='answer   answerof-161902 ' value='656431'   \/><label for='answer-id-656431' id='answer-label-656431' class=' answer'><span>Plan employee sessions and team building strategies for the organization to improve awareness of fraud among employees.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161902[]' id='answer-id-656432' class='answer   answerof-161902 ' value='656432'   \/><label for='answer-id-656432' id='answer-label-656432' class=' answer'><span>Review the investigation and implement any improvements to the process.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161902[]' id='answer-id-656433' class='answer   answerof-161902 ' value='656433'   \/><label for='answer-id-656433' id='answer-label-656433' class=' answer'><span>Conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161902[]' id='answer-id-656434' class='answer   answerof-161902 ' value='656434'   \/><label for='answer-id-656434' id='answer-label-656434' class=' answer'><span>Determine why The fraud was not detected earlier and design controls to strengthen early detection.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-161903'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Which of the following statements is true about The IIA Global Internal Audit Competency Framework?<\/div><input type='hidden' name='question_id[]' id='qID_71' value='161903' \/><input type='hidden' id='answerType161903' 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-161903[]' id='answer-id-656435' class='answer   answerof-161903 ' value='656435'   \/><label for='answer-id-656435' id='answer-label-656435' class=' answer'><span>The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161903[]' id='answer-id-656436' class='answer   answerof-161903 ' value='656436'   \/><label for='answer-id-656436' id='answer-label-656436' class=' answer'><span>The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161903[]' id='answer-id-656437' class='answer   answerof-161903 ' value='656437'   \/><label for='answer-id-656437' id='answer-label-656437' class=' answer'><span>The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161903[]' id='answer-id-656438' class='answer   answerof-161903 ' value='656438'   \/><label for='answer-id-656438' id='answer-label-656438' class=' answer'><span>The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-161904'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>Which of the following is an example of a directive control?<\/div><input type='hidden' name='question_id[]' id='qID_72' value='161904' \/><input type='hidden' id='answerType161904' 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-161904[]' id='answer-id-656439' class='answer   answerof-161904 ' value='656439'   \/><label for='answer-id-656439' id='answer-label-656439' class=' answer'><span>Segregation of duties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161904[]' id='answer-id-656440' class='answer   answerof-161904 ' value='656440'   \/><label for='answer-id-656440' id='answer-label-656440' class=' answer'><span>Exception reports.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161904[]' id='answer-id-656441' class='answer   answerof-161904 ' value='656441'   \/><label for='answer-id-656441' id='answer-label-656441' class=' answer'><span>Incentive compensation plans.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-161904[]' id='answer-id-656442' class='answer   answerof-161904 ' value='656442'   \/><label for='answer-id-656442' id='answer-label-656442' class=' answer'><span>Automated reconciliations.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-73'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" 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