{"id":79810,"date":"2024-05-21T03:32:11","date_gmt":"2024-05-21T03:32:11","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=79810"},"modified":"2024-05-21T03:32:16","modified_gmt":"2024-05-21T03:32:16","slug":"iia-cia-part2-exam-dumps-v14-03-latest-version-for-your-cia-exam-part-two-practice-of-internal-auditing-exam-preparation","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/iia-cia-part2-exam-dumps-v14-03-latest-version-for-your-cia-exam-part-two-practice-of-internal-auditing-exam-preparation.html","title":{"rendered":"IIA-CIA-Part2 Exam Dumps (V14.03) &#8211; Latest Version for Your CIA Exam Part Two: Practice of Internal Auditing Exam Preparation"},"content":{"rendered":"\n<p>To keep competitive in today\u2019s industry, we have updated the IIA-CIA-Part2 exam dumps to V14.03 as the latest version for your CIA Exam Part Two: Practice of Internal Auditing exam preparation. With the help of the most updated IIA-CIA-Part2 exam dumps of DumpsBase, you can make your study plan more effective and easily achieve your preparation goals. These dumps are validated by experts and cover all the requirements for the CIA Exam Part Two: Practice of Internal Auditing IIA-CIA-Part2 exam. Compared to the previous version, the IIA-CIA-Part2 exam dumps (V14.03) are more accurate with the latest questions and precise answers. DumpsBase offers an effective way to boost your knowledge and skills. These updated IIA-CIA-Part2 dumps are designed with the latest and most sophisticated techniques to make your preparation advanced. By using the latest IIA-CIA-Part2 dumps, you can identify your weak areas and improve them under the guidance of experts.<\/p>\n<h2><em><span style=\"background-color: #00ffff;\">Below are the IIA-CIA-Part2 Free Dumps<\/span><\/em> to help You Start Your Practice of Internal Auditing Exam Preparation<\/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=\"submittingExam8540\" 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-8540\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-8540\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-329892'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>An internal auditor accessed accounts payable records and extracted data related to fuel purchased tor the organization's vehicles As a first step, she sorted the data by vehicle and used spreadsheet functions to identify all instances of refueling on the same or sequential dates She then performed other tests. <br \/>\r<br>Based on the auditor's actions which of the following is most likely the objective of this engagement1?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='329892' \/><input type='hidden' id='answerType329892' 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-329892[]' id='answer-id-1290752' class='answer   answerof-329892 ' value='1290752'   \/><label for='answer-id-1290752' id='answer-label-1290752' class=' answer'><span>To identify whether fuel was purchased for work-related purposes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329892[]' id='answer-id-1290753' class='answer   answerof-329892 ' value='1290753'   \/><label for='answer-id-1290753' id='answer-label-1290753' class=' answer'><span>To estimate future fuel costs for the organization's fleet of vehicles<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329892[]' id='answer-id-1290754' class='answer   answerof-329892 ' value='1290754'   \/><label for='answer-id-1290754' id='answer-label-1290754' class=' answer'><span>To determine trends in average fuel consumption by vehicle<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329892[]' id='answer-id-1290755' class='answer   answerof-329892 ' value='1290755'   \/><label for='answer-id-1290755' id='answer-label-1290755' class=' answer'><span>To determine whether the organization is paying more than the industry average for fuel<\/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-329893'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>An internal auditor tested whether purchase orders were supported by appropriately approved purchase requisitions She sampled a population of purchase documents and identified instances where purchase requisitions were missing However, she did not notice that n some cases purchase requisitions were approved by an unauthorized person. <br \/>\r<br>Which of the following risks most appropriately describes this situation?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='329893' \/><input type='hidden' id='answerType329893' 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-329893[]' id='answer-id-1290756' class='answer   answerof-329893 ' value='1290756'   \/><label for='answer-id-1290756' id='answer-label-1290756' class=' answer'><span>Nonsampling risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329893[]' id='answer-id-1290757' class='answer   answerof-329893 ' value='1290757'   \/><label for='answer-id-1290757' id='answer-label-1290757' class=' answer'><span>Sampling risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329893[]' id='answer-id-1290758' class='answer   answerof-329893 ' value='1290758'   \/><label for='answer-id-1290758' id='answer-label-1290758' class=' answer'><span>Inherent risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329893[]' id='answer-id-1290759' class='answer   answerof-329893 ' value='1290759'   \/><label for='answer-id-1290759' id='answer-label-1290759' class=' answer'><span>Due diligence risk<\/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-329894'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>An internal auditor submitted a report containing recommendations for management to enhance internal controls related to investments. <br \/>\r<br>To follow up, which of the following is the most appropriate action for the internal auditor to take?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='329894' \/><input type='hidden' id='answerType329894' 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-329894[]' id='answer-id-1290760' class='answer   answerof-329894 ' value='1290760'   \/><label for='answer-id-1290760' id='answer-label-1290760' class=' answer'><span>Observe corrective measures.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329894[]' id='answer-id-1290761' class='answer   answerof-329894 ' value='1290761'   \/><label for='answer-id-1290761' id='answer-label-1290761' class=' answer'><span>Seek a management assurance declaration.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329894[]' id='answer-id-1290762' class='answer   answerof-329894 ' value='1290762'   \/><label for='answer-id-1290762' id='answer-label-1290762' class=' answer'><span>Follow up during the next scheduled audit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329894[]' id='answer-id-1290763' class='answer   answerof-329894 ' value='1290763'   \/><label for='answer-id-1290763' id='answer-label-1290763' class=' answer'><span>Conduct appropriate testing to verify management responses.<\/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-329895'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>A chief audit executive (CAE) reviews the supervision of an internal audit engagement. <br \/>\r<br>Which of the following would most likely assure the CAE that the engagement had adequate supervision?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='329895' \/><input type='hidden' id='answerType329895' 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-329895[]' id='answer-id-1290764' class='answer   answerof-329895 ' value='1290764'   \/><label for='answer-id-1290764' id='answer-label-1290764' class=' answer'><span>The engagement supervisor has an open door pokey for audit team members to discuss concerns<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329895[]' id='answer-id-1290765' class='answer   answerof-329895 ' value='1290765'   \/><label for='answer-id-1290765' id='answer-label-1290765' class=' answer'><span>The supervisor reviews weekly progress reports from the audit team members<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329895[]' id='answer-id-1290766' class='answer   answerof-329895 ' value='1290766'   \/><label for='answer-id-1290766' id='answer-label-1290766' class=' answer'><span>The supervisor reviews and initials internal audit workpapers for the engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329895[]' id='answer-id-1290767' class='answer   answerof-329895 ' value='1290767'   \/><label for='answer-id-1290767' id='answer-label-1290767' class=' answer'><span>The supervisor meets periodically with management in the reviewed area to get feedback during the engagement.<\/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-329896'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>A corporate merger decision prompts the cruel audit executive (CAE) to propose interim changes lo the existing annual audit plan to account for emerging risks. <br \/>\r<br>When of the following is the most appropriate action for the CAE to take regarding the changes made to the audit plan?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='329896' \/><input type='hidden' id='answerType329896' 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-329896[]' id='answer-id-1290768' class='answer   answerof-329896 ' value='1290768'   \/><label for='answer-id-1290768' id='answer-label-1290768' class=' answer'><span>Present the revised audit plan directly to the board for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329896[]' id='answer-id-1290769' class='answer   answerof-329896 ' value='1290769'   \/><label for='answer-id-1290769' id='answer-label-1290769' class=' answer'><span>Communicate with the chief financial officer and present the revised audit plan to the CEO for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329896[]' id='answer-id-1290770' class='answer   answerof-329896 ' value='1290770'   \/><label for='answer-id-1290770' id='answer-label-1290770' class=' answer'><span>Present the revised audit plan directly to the CEO for approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329896[]' id='answer-id-1290771' class='answer   answerof-329896 ' value='1290771'   \/><label for='answer-id-1290771' id='answer-label-1290771' class=' answer'><span>Communicate with the CCO and present the revised audit plan to the board for approval<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-329897'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Which of the following statements regarding the risk management process' support of the internal audit activity is true?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='329897' \/><input type='hidden' id='answerType329897' 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-329897[]' id='answer-id-1290772' class='answer   answerof-329897 ' value='1290772'   \/><label for='answer-id-1290772' id='answer-label-1290772' class=' answer'><span>The risk management process can provide more extensive internal audit services to the organization if it does not have an internal audit department<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329897[]' id='answer-id-1290773' class='answer   answerof-329897 ' value='1290773'   \/><label for='answer-id-1290773' id='answer-label-1290773' class=' answer'><span>The risk management process supports internal audit by evaluating whether critical controls are adequate and effective.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329897[]' id='answer-id-1290774' class='answer   answerof-329897 ' value='1290774'   \/><label for='answer-id-1290774' id='answer-label-1290774' class=' answer'><span>The risk management process can determine whether all significant risks have been identified and are being treated.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329897[]' id='answer-id-1290775' class='answer   answerof-329897 ' value='1290775'   \/><label for='answer-id-1290775' id='answer-label-1290775' class=' answer'><span>The risk management process establishes an organization-specific documented risk management framework.<\/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-329898'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Which of the following internal control attributes should internal auditors consider testing during a review of the board of directors?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='329898' \/><input type='hidden' id='answerType329898' 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-329898[]' id='answer-id-1290776' class='answer   answerof-329898 ' value='1290776'   \/><label for='answer-id-1290776' id='answer-label-1290776' class=' answer'><span>The presence of an independent critical mass<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329898[]' id='answer-id-1290777' class='answer   answerof-329898 ' value='1290777'   \/><label for='answer-id-1290777' id='answer-label-1290777' class=' answer'><span>The established philosophy and operating style of senior management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329898[]' id='answer-id-1290778' class='answer   answerof-329898 ' value='1290778'   \/><label for='answer-id-1290778' id='answer-label-1290778' class=' answer'><span>The articulated internal control objectives of the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329898[]' id='answer-id-1290779' class='answer   answerof-329898 ' value='1290779'   \/><label for='answer-id-1290779' id='answer-label-1290779' class=' answer'><span>The organization's employee recruiting and retention policies<\/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-329899'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive? <br \/>\r<br>&#8226; During an audit of the hiring process in a law firm, it was discovered that potential employees' credentials were not always confirmed sufficiently. This process remained unchanged at the following audit. <br \/>\r<br>&#8226; During an audit of the accounts payable department, auditors calculated that two percent of accounts were paid past due. This condition persisted at a follow up audit. <br \/>\r<br>&#8226; During an audit of the vehicle fleet of a rental agency, it was determined that at any given time, eight percent of the vehicles were not operational. During the next audit, this figure had increased. <br \/>\r<br>&#8226; During an audit of the cash handling process in a casino, internal audit discovered control deficiencies in the transfer process between the slot machines and the cash counting area. It was corrected immediately.<\/div><input type='hidden' name='question_id[]' id='qID_8' value='329899' \/><input type='hidden' id='answerType329899' 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-329899[]' id='answer-id-1290780' class='answer   answerof-329899 ' value='1290780'   \/><label for='answer-id-1290780' id='answer-label-1290780' class=' answer'><span>1 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329899[]' id='answer-id-1290781' class='answer   answerof-329899 ' value='1290781'   \/><label for='answer-id-1290781' id='answer-label-1290781' class=' answer'><span>1 and 4 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329899[]' id='answer-id-1290782' class='answer   answerof-329899 ' value='1290782'   \/><label for='answer-id-1290782' id='answer-label-1290782' class=' answer'><span>2 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329899[]' id='answer-id-1290783' class='answer   answerof-329899 ' value='1290783'   \/><label for='answer-id-1290783' id='answer-label-1290783' class=' answer'><span>2 and 4 only<\/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-329900'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following statement is consistent with IIA guidance the use of mentoring for internal auditors?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='329900' \/><input type='hidden' id='answerType329900' 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-329900[]' id='answer-id-1290784' class='answer   answerof-329900 ' value='1290784'   \/><label for='answer-id-1290784' id='answer-label-1290784' class=' answer'><span>The member and the internal auditor should opt for informal meetings even if it means that no formal documentation will be created.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329900[]' id='answer-id-1290785' class='answer   answerof-329900 ' value='1290785'   \/><label for='answer-id-1290785' id='answer-label-1290785' class=' answer'><span>The mentor relationship is usually not suitable for internal audit staff, as it does not leas to professional development.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329900[]' id='answer-id-1290786' class='answer   answerof-329900 ' value='1290786'   \/><label for='answer-id-1290786' id='answer-label-1290786' class=' answer'><span>The value of mentoring is derived primarily from the personal relationship between the two parties involved, and the mentor\u2019s level of relevant experience should not be a key factor.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329900[]' id='answer-id-1290787' class='answer   answerof-329900 ' value='1290787'   \/><label for='answer-id-1290787' id='answer-label-1290787' class=' answer'><span>The mentor should be the internal auditor\u2019s supervisor to ensure that the auditor performance is assessed in a relevant and meaningful context.<\/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-329901'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>According to an internal audit observation, the organization\u2019s rules of record management require all contracts to be registered and stored in a specific electronic system. One subsidiary has thousands of client contracts on paper, which are kept in the office because there are not enough assistants to scan the contracts into the system. <br \/>\r<br>Which of the following component should be added to this observation?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='329901' \/><input type='hidden' id='answerType329901' 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-329901[]' id='answer-id-1290788' class='answer   answerof-329901 ' value='1290788'   \/><label for='answer-id-1290788' id='answer-label-1290788' class=' answer'><span>Criteria<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329901[]' id='answer-id-1290789' class='answer   answerof-329901 ' value='1290789'   \/><label for='answer-id-1290789' id='answer-label-1290789' class=' answer'><span>Cause<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329901[]' id='answer-id-1290790' class='answer   answerof-329901 ' value='1290790'   \/><label for='answer-id-1290790' id='answer-label-1290790' class=' answer'><span>Effect<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329901[]' id='answer-id-1290791' class='answer   answerof-329901 ' value='1290791'   \/><label for='answer-id-1290791' id='answer-label-1290791' class=' answer'><span>Condition<\/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-329902'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Communicate to senior management a summary report on the status and adequacy of audit resources.<\/div><input type='hidden' name='question_id[]' id='qID_11' value='329902' \/><input type='hidden' id='answerType329902' 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-329902[]' id='answer-id-1290792' class='answer   answerof-329902 ' value='1290792'   \/><label for='answer-id-1290792' id='answer-label-1290792' class=' answer'><span>1 and 3 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329902[]' id='answer-id-1290793' class='answer   answerof-329902 ' value='1290793'   \/><label for='answer-id-1290793' id='answer-label-1290793' class=' answer'><span>2 and 4 only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329902[]' id='answer-id-1290794' class='answer   answerof-329902 ' value='1290794'   \/><label for='answer-id-1290794' id='answer-label-1290794' class=' answer'><span>1, 2, and 4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329902[]' id='answer-id-1290795' class='answer   answerof-329902 ' value='1290795'   \/><label for='answer-id-1290795' id='answer-label-1290795' class=' answer'><span>2, 3, and 4<\/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-329903'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>An organization buys crude oil on the open market and refines it into a high-quality gasoline. The price of crude oil is extremely volatile. <br \/>\r<br>Which of the following is the most appropriate risk management technique to protect the organization against these price fluctuations?<\/div><input type='hidden' name='question_id[]' id='qID_12' value='329903' \/><input type='hidden' id='answerType329903' 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-329903[]' id='answer-id-1290796' class='answer   answerof-329903 ' value='1290796'   \/><label for='answer-id-1290796' id='answer-label-1290796' class=' answer'><span>Enter into long-term gasoline purchase agreements with end customers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329903[]' id='answer-id-1290797' class='answer   answerof-329903 ' value='1290797'   \/><label for='answer-id-1290797' id='answer-label-1290797' class=' answer'><span>Trade crude oil derivatives at financial markets in order to benefit from price fluctuations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329903[]' id='answer-id-1290798' class='answer   answerof-329903 ' value='1290798'   \/><label for='answer-id-1290798' id='answer-label-1290798' class=' answer'><span>Purchase crude oil-related derivatives such as futures or options<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329903[]' id='answer-id-1290799' class='answer   answerof-329903 ' value='1290799'   \/><label for='answer-id-1290799' id='answer-label-1290799' class=' answer'><span>Stock as much raw materials as possible and consider Investing into additional facilities<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-329904'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Which of the following is the primary reason the chief audit executive should consider the organization's strategic plans when developing the annual audit plan?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='329904' \/><input type='hidden' id='answerType329904' 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-329904[]' id='answer-id-1290800' class='answer   answerof-329904 ' value='1290800'   \/><label for='answer-id-1290800' id='answer-label-1290800' class=' answer'><span>Strategic plans reflect the organization's business objectives and overall attitude toward risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329904[]' id='answer-id-1290801' class='answer   answerof-329904 ' value='1290801'   \/><label for='answer-id-1290801' id='answer-label-1290801' class=' answer'><span>Strategic plans are helpful to identify major areas of activity, which may direct the allocation of internal audit activity resources.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329904[]' id='answer-id-1290802' class='answer   answerof-329904 ' value='1290802'   \/><label for='answer-id-1290802' id='answer-label-1290802' class=' answer'><span>Strategic plans are likely to show areas of weak financial controls.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329904[]' id='answer-id-1290803' class='answer   answerof-329904 ' value='1290803'   \/><label for='answer-id-1290803' id='answer-label-1290803' class=' answer'><span>The strategic plan is a relatively stable document on which to base audit planning.<\/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-329905'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>An internal auditor wants to compare performance information from one quarter to another. <br \/>\r<br>Which analytics procedure would the auditor use?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='329905' \/><input type='hidden' id='answerType329905' 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-329905[]' id='answer-id-1290804' class='answer   answerof-329905 ' value='1290804'   \/><label for='answer-id-1290804' id='answer-label-1290804' class=' answer'><span>Ratio analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329905[]' id='answer-id-1290805' class='answer   answerof-329905 ' value='1290805'   \/><label for='answer-id-1290805' id='answer-label-1290805' class=' answer'><span>Trend analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329905[]' id='answer-id-1290806' class='answer   answerof-329905 ' value='1290806'   \/><label for='answer-id-1290806' id='answer-label-1290806' class=' answer'><span>Vertical analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329905[]' id='answer-id-1290807' class='answer   answerof-329905 ' value='1290807'   \/><label for='answer-id-1290807' id='answer-label-1290807' class=' answer'><span>Benchmarking analysis<\/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-329906'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>An internal auditor wants to identity potential ghost employees in the organization's payroll system. <br \/>\r<br>The auditor extracts the following data <br \/>\r<br>- Human resources data with employees' names addresses employment conditions and identification codes <br \/>\r<br>- Payroll data <br \/>\r<br>- Logs from entrance systems <br \/>\r<br>With this data, which of the following types of ghost employees will the auditor be able to identify?<\/div><input type='hidden' name='question_id[]' id='qID_15' value='329906' \/><input type='hidden' id='answerType329906' 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-329906[]' id='answer-id-1290808' class='answer   answerof-329906 ' value='1290808'   \/><label for='answer-id-1290808' id='answer-label-1290808' class=' answer'><span>Employees who are being paid more than then approved wages<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329906[]' id='answer-id-1290809' class='answer   answerof-329906 ' value='1290809'   \/><label for='answer-id-1290809' id='answer-label-1290809' class=' answer'><span>Employees who get paid although their employment has expired<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329906[]' id='answer-id-1290810' class='answer   answerof-329906 ' value='1290810'   \/><label for='answer-id-1290810' id='answer-label-1290810' class=' answer'><span>Employees who are related to one of the subcontractors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329906[]' id='answer-id-1290811' class='answer   answerof-329906 ' value='1290811'   \/><label for='answer-id-1290811' id='answer-label-1290811' class=' answer'><span>Employees who are physically present at the workplace but who do not perform the specified job duties<\/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-329907'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Which of the following items, included in the preliminary audit communication would be most useful for management to formulate action plans in response to audit recommendations?<\/div><input type='hidden' name='question_id[]' id='qID_16' value='329907' \/><input type='hidden' id='answerType329907' 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-329907[]' id='answer-id-1290812' class='answer   answerof-329907 ' value='1290812'   \/><label for='answer-id-1290812' id='answer-label-1290812' class=' answer'><span>A condition<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329907[]' id='answer-id-1290813' class='answer   answerof-329907 ' value='1290813'   \/><label for='answer-id-1290813' id='answer-label-1290813' class=' answer'><span>An audit objectives<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329907[]' id='answer-id-1290814' class='answer   answerof-329907 ' value='1290814'   \/><label for='answer-id-1290814' id='answer-label-1290814' class=' answer'><span>An audit scope<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329907[]' id='answer-id-1290815' class='answer   answerof-329907 ' value='1290815'   \/><label for='answer-id-1290815' id='answer-label-1290815' class=' answer'><span>An observation rating<\/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-329908'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Which of the following statements about assurance maps is correct?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='329908' \/><input type='hidden' id='answerType329908' 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-329908[]' id='answer-id-1290816' class='answer   answerof-329908 ' value='1290816'   \/><label for='answer-id-1290816' id='answer-label-1290816' class=' answer'><span>An assurance map is used by the chief audit executive to coordinate assurance activities with other internal and external assurance providers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329908[]' id='answer-id-1290817' class='answer   answerof-329908 ' value='1290817'   \/><label for='answer-id-1290817' id='answer-label-1290817' class=' answer'><span>An assurance map is a picture of all assurance engagements performed by the internal audit activity across the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329908[]' id='answer-id-1290818' class='answer   answerof-329908 ' value='1290818'   \/><label for='answer-id-1290818' id='answer-label-1290818' class=' answer'><span>An assurance map is used by the engagement supervisor to coordinate the roles of various internal audit team members assigned to assurance engagements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329908[]' id='answer-id-1290819' class='answer   answerof-329908 ' value='1290819'   \/><label for='answer-id-1290819' id='answer-label-1290819' class=' answer'><span>An assurance map lists the procedures and testing activities performed by an internal audit team during an assurance engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-329909'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>When me internal audit activity does not have sufficient time to complete its usual root cause analysis which c4 the following is most appropriate?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='329909' \/><input type='hidden' id='answerType329909' 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-329909[]' id='answer-id-1290820' class='answer   answerof-329909 ' value='1290820'   \/><label for='answer-id-1290820' id='answer-label-1290820' class=' answer'><span>The chief audit executive may recommend that management conduct further work to identify the root cause and address the issue<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329909[]' id='answer-id-1290821' class='answer   answerof-329909 ' value='1290821'   \/><label for='answer-id-1290821' id='answer-label-1290821' class=' answer'><span>Internal auditors should finish the engagement without conducting the root cause analysis and draft the audit report, though the report would not be considered complete until the analysis is concluded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329909[]' id='answer-id-1290822' class='answer   answerof-329909 ' value='1290822'   \/><label for='answer-id-1290822' id='answer-label-1290822' class=' answer'><span>internal auditors must adjust their future engagement schedule to ensure that the root cause analysis is always performed before the engagement is concluded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329909[]' id='answer-id-1290823' class='answer   answerof-329909 ' value='1290823'   \/><label for='answer-id-1290823' id='answer-label-1290823' class=' answer'><span>Internal auditors should Instead perform a Pareto rule analysis<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-329910'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='329910' \/><input type='hidden' id='answerType329910' 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-329910[]' id='answer-id-1290824' class='answer   answerof-329910 ' value='1290824'   \/><label for='answer-id-1290824' id='answer-label-1290824' class=' answer'><span>Tracing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329910[]' id='answer-id-1290825' class='answer   answerof-329910 ' value='1290825'   \/><label for='answer-id-1290825' id='answer-label-1290825' class=' answer'><span>Reperformance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329910[]' id='answer-id-1290826' class='answer   answerof-329910 ' value='1290826'   \/><label for='answer-id-1290826' id='answer-label-1290826' class=' answer'><span>Vouching<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329910[]' id='answer-id-1290827' class='answer   answerof-329910 ' value='1290827'   \/><label for='answer-id-1290827' id='answer-label-1290827' class=' answer'><span>Walkthrough<\/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-329911'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='329911' \/><input type='hidden' id='answerType329911' 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-329911[]' id='answer-id-1290828' class='answer   answerof-329911 ' value='1290828'   \/><label for='answer-id-1290828' id='answer-label-1290828' class=' answer'><span>To evaluate controls regarding the computer security of an oil refinery.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329911[]' id='answer-id-1290829' class='answer   answerof-329911 ' value='1290829'   \/><label for='answer-id-1290829' id='answer-label-1290829' class=' answer'><span>To examine the processes involved in exploring, developing, and operating a gold mine.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329911[]' id='answer-id-1290830' class='answer   answerof-329911 ' value='1290830'   \/><label for='answer-id-1290830' id='answer-label-1290830' class=' answer'><span>To assess the likelihood and impact of events associated with operating a finished goods warehouse.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329911[]' id='answer-id-1290831' class='answer   answerof-329911 ' value='1290831'   \/><label for='answer-id-1290831' id='answer-label-1290831' class=' answer'><span>To link a financial institution's business objectives to a work unit responsible for the associated risk.<\/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-329912'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>If observed during fieldwork by an internal auditor, which of the following activities is least important to communicate formally to the chief audit executive?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='329912' \/><input type='hidden' id='answerType329912' 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-329912[]' id='answer-id-1290832' class='answer   answerof-329912 ' value='1290832'   \/><label for='answer-id-1290832' id='answer-label-1290832' class=' answer'><span>Acts that may endanger the health or safety of individuals.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329912[]' id='answer-id-1290833' class='answer   answerof-329912 ' value='1290833'   \/><label for='answer-id-1290833' id='answer-label-1290833' class=' answer'><span>Acts that favor one party to the detriment of another.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329912[]' id='answer-id-1290834' class='answer   answerof-329912 ' value='1290834'   \/><label for='answer-id-1290834' id='answer-label-1290834' class=' answer'><span>Acts that damage or have an adverse effect on the environment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329912[]' id='answer-id-1290835' class='answer   answerof-329912 ' value='1290835'   \/><label for='answer-id-1290835' id='answer-label-1290835' class=' answer'><span>Acts that conceal inappropriate activities in the organization.<\/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-329913'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Which of the following should management action plans include at a minimum?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='329913' \/><input type='hidden' id='answerType329913' 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-329913[]' id='answer-id-1290836' class='answer   answerof-329913 ' value='1290836'   \/><label for='answer-id-1290836' id='answer-label-1290836' class=' answer'><span>An implementer for the action plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329913[]' id='answer-id-1290837' class='answer   answerof-329913 ' value='1290837'   \/><label for='answer-id-1290837' id='answer-label-1290837' class=' answer'><span>An owner of the action plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329913[]' id='answer-id-1290838' class='answer   answerof-329913 ' value='1290838'   \/><label for='answer-id-1290838' id='answer-label-1290838' class=' answer'><span>The internal auditor's next review date of the action plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329913[]' id='answer-id-1290839' class='answer   answerof-329913 ' value='1290839'   \/><label for='answer-id-1290839' id='answer-label-1290839' class=' answer'><span>Detailed procedures for the action plan<\/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-329914'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>During a fraud interview, it was discovered that unquestioned authority enabled a vice president to steal funds from the organization. <br \/>\r<br>Which of the following best describes this condition?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='329914' \/><input type='hidden' id='answerType329914' 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-329914[]' id='answer-id-1290840' class='answer   answerof-329914 ' value='1290840'   \/><label for='answer-id-1290840' id='answer-label-1290840' class=' answer'><span>Scheme.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329914[]' id='answer-id-1290841' class='answer   answerof-329914 ' value='1290841'   \/><label for='answer-id-1290841' id='answer-label-1290841' class=' answer'><span>Opportunity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329914[]' id='answer-id-1290842' class='answer   answerof-329914 ' value='1290842'   \/><label for='answer-id-1290842' id='answer-label-1290842' class=' answer'><span>Rationalization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329914[]' id='answer-id-1290843' class='answer   answerof-329914 ' value='1290843'   \/><label for='answer-id-1290843' id='answer-label-1290843' class=' answer'><span>Pressure.<\/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-329915'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>What is the primary objective of an engagement supervisor's review of key activities performed during the engagement?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='329915' \/><input type='hidden' id='answerType329915' 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-329915[]' id='answer-id-1290844' class='answer   answerof-329915 ' value='1290844'   \/><label for='answer-id-1290844' id='answer-label-1290844' class=' answer'><span>To ensure that the engagement is completed on time and within budget<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329915[]' id='answer-id-1290845' class='answer   answerof-329915 ' value='1290845'   \/><label for='answer-id-1290845' id='answer-label-1290845' class=' answer'><span>To ensure that all work performed meets acceptable quality standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329915[]' id='answer-id-1290846' class='answer   answerof-329915 ' value='1290846'   \/><label for='answer-id-1290846' id='answer-label-1290846' class=' answer'><span>To ensure that management has provided suitable responses to all observations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329915[]' id='answer-id-1290847' class='answer   answerof-329915 ' value='1290847'   \/><label for='answer-id-1290847' id='answer-label-1290847' class=' answer'><span>To ensure that management is satisfied with the progress of the engagement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-329916'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Which of the following would most likely cause an internal auditor to consider adding fraud work steps to the audit program?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='329916' \/><input type='hidden' id='answerType329916' 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-329916[]' id='answer-id-1290848' class='answer   answerof-329916 ' value='1290848'   \/><label for='answer-id-1290848' id='answer-label-1290848' class=' answer'><span>Improper segregation of duties.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329916[]' id='answer-id-1290849' class='answer   answerof-329916 ' value='1290849'   \/><label for='answer-id-1290849' id='answer-label-1290849' class=' answer'><span>Incentives and bonus programs.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329916[]' id='answer-id-1290850' class='answer   answerof-329916 ' value='1290850'   \/><label for='answer-id-1290850' id='answer-label-1290850' class=' answer'><span>An employee's reported concerns.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329916[]' id='answer-id-1290851' class='answer   answerof-329916 ' value='1290851'   \/><label for='answer-id-1290851' id='answer-label-1290851' class=' answer'><span>Lack of an ethics policy.<\/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-329917'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>What is the best course of action for a chief audit executive if an internal auditor identifies in the early stage of an audit that some employees have inappropriate access to a key system?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='329917' \/><input type='hidden' id='answerType329917' 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-329917[]' id='answer-id-1290852' class='answer   answerof-329917 ' value='1290852'   \/><label for='answer-id-1290852' id='answer-label-1290852' class=' answer'><span>Contact the audit committee chair to discuss the finding<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329917[]' id='answer-id-1290853' class='answer   answerof-329917 ' value='1290853'   \/><label for='answer-id-1290853' id='answer-label-1290853' class=' answer'><span>Obtain verbal assurance from management that the inappropriate access will be removed<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329917[]' id='answer-id-1290854' class='answer   answerof-329917 ' value='1290854'   \/><label for='answer-id-1290854' id='answer-label-1290854' class=' answer'><span>Issue an interim audit report so that management can implement action plans<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329917[]' id='answer-id-1290855' class='answer   answerof-329917 ' value='1290855'   \/><label for='answer-id-1290855' id='answer-label-1290855' class=' answer'><span>Ask the auditor to create a ticket with the IT help desk requesting to revoke the inappropriate access<\/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-329918'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Which of the following statements generally true regarding audit engagement planning?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='329918' \/><input type='hidden' id='answerType329918' 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-329918[]' id='answer-id-1290856' class='answer   answerof-329918 ' value='1290856'   \/><label for='answer-id-1290856' id='answer-label-1290856' class=' answer'><span>The best source tor detailed process information is senior management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329918[]' id='answer-id-1290857' class='answer   answerof-329918 ' value='1290857'   \/><label for='answer-id-1290857' id='answer-label-1290857' class=' answer'><span>Audit objectives should be general and do not change.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329918[]' id='answer-id-1290858' class='answer   answerof-329918 ' value='1290858'   \/><label for='answer-id-1290858' id='answer-label-1290858' class=' answer'><span>Computer-assisted audit techniques are typically not useful during engagement planning<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329918[]' id='answer-id-1290859' class='answer   answerof-329918 ' value='1290859'   \/><label for='answer-id-1290859' id='answer-label-1290859' class=' answer'><span>Internal auditors should prepare a dented audit program for testing controls<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-329919'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>An internal auditor is analyzing sates records and is concerned whether a transaction is recorded in the coned period. The accounting manager explains that the external auditor approved the records and produces an email from the external audit team leader. <br \/>\r<br>How should tie internal auditor respond?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='329919' \/><input type='hidden' id='answerType329919' 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-329919[]' id='answer-id-1290860' class='answer   answerof-329919 ' value='1290860'   \/><label for='answer-id-1290860' id='answer-label-1290860' class=' answer'><span>Ask the external auditor to review the same transaction again as an independent third party<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329919[]' id='answer-id-1290861' class='answer   answerof-329919 ' value='1290861'   \/><label for='answer-id-1290861' id='answer-label-1290861' class=' answer'><span>Consult account accounting principles, standards, and relevant guidelines in regard to timing of the entry<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329919[]' id='answer-id-1290862' class='answer   answerof-329919 ' value='1290862'   \/><label for='answer-id-1290862' id='answer-label-1290862' class=' answer'><span>Interview the chief financial officer and obtain her opinion on how the transactions should be recorded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329919[]' id='answer-id-1290863' class='answer   answerof-329919 ' value='1290863'   \/><label for='answer-id-1290863' id='answer-label-1290863' class=' answer'><span>Compare the recording of this transaction to now similar ones were executed last year<\/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-329920'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>A chief audit executive (CAE) is trying to balance the internal audit activity's needs for technical audit skills budget efficiency and staff development opportunities. <br \/>\r<br>Which of the following would best assist the CAE in achieving this balance1?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='329920' \/><input type='hidden' id='answerType329920' 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-329920[]' id='answer-id-1290864' class='answer   answerof-329920 ' value='1290864'   \/><label for='answer-id-1290864' id='answer-label-1290864' class=' answer'><span>Strategic sourcing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329920[]' id='answer-id-1290865' class='answer   answerof-329920 ' value='1290865'   \/><label for='answer-id-1290865' id='answer-label-1290865' class=' answer'><span>Loan staff arrangement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329920[]' id='answer-id-1290866' class='answer   answerof-329920 ' value='1290866'   \/><label for='answer-id-1290866' id='answer-label-1290866' class=' answer'><span>Flat organizational structure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329920[]' id='answer-id-1290867' class='answer   answerof-329920 ' value='1290867'   \/><label for='answer-id-1290867' id='answer-label-1290867' class=' answer'><span>Hierarchical organizational structure<\/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-329921'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>According to IIA guidance which of the following statements is true regarding the annual audit plan?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='329921' \/><input type='hidden' id='answerType329921' 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-329921[]' id='answer-id-1290868' class='answer   answerof-329921 ' value='1290868'   \/><label for='answer-id-1290868' id='answer-label-1290868' class=' answer'><span>The annual audit plan should only be adjusted in response to problems with resourcing, scope, and data availability.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329921[]' id='answer-id-1290869' class='answer   answerof-329921 ' value='1290869'   \/><label for='answer-id-1290869' id='answer-label-1290869' class=' answer'><span>The chief audit executive (CAE) may incorporate risk information, including risk appetite levels from management for the audit plan at her discretion.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329921[]' id='answer-id-1290870' class='answer   answerof-329921 ' value='1290870'   \/><label for='answer-id-1290870' id='answer-label-1290870' class=' answer'><span>In an immature risk management environment it is preferable for the CAE to rely solely on her judgment regarding risk identification and assessment to develop the audit plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329921[]' id='answer-id-1290871' class='answer   answerof-329921 ' value='1290871'   \/><label for='answer-id-1290871' id='answer-label-1290871' class=' answer'><span>The CAE may make adjustments to the annual audit plan as needed without senior management or board approval.<\/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-329922'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Which of the following is an appropriate documentation of proper engagement supervision?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='329922' \/><input type='hidden' id='answerType329922' 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-329922[]' id='answer-id-1290872' class='answer   answerof-329922 ' value='1290872'   \/><label for='answer-id-1290872' id='answer-label-1290872' class=' answer'><span>A completed engagement workpaper review checklist.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329922[]' id='answer-id-1290873' class='answer   answerof-329922 ' value='1290873'   \/><label for='answer-id-1290873' id='answer-label-1290873' class=' answer'><span>The supervisor's review notes on engagement workpapers.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329922[]' id='answer-id-1290874' class='answer   answerof-329922 ' value='1290874'   \/><label for='answer-id-1290874' id='answer-label-1290874' class=' answer'><span>The email exchanges between the audit team and the supervisor.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329922[]' id='answer-id-1290875' class='answer   answerof-329922 ' value='1290875'   \/><label for='answer-id-1290875' id='answer-label-1290875' class=' answer'><span>A supervisor's approval of resources allocated to the engagement<\/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-329923'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Submit management's plan of action to the external auditors for additional review.<\/div><input type='hidden' name='question_id[]' id='qID_32' value='329923' \/><input type='hidden' id='answerType329923' 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-329923[]' id='answer-id-1290876' class='answer   answerof-329923 ' value='1290876'   \/><label for='answer-id-1290876' id='answer-label-1290876' class=' answer'><span>1 and 2<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329923[]' id='answer-id-1290877' class='answer   answerof-329923 ' value='1290877'   \/><label for='answer-id-1290877' id='answer-label-1290877' class=' answer'><span>1 and 4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329923[]' id='answer-id-1290878' class='answer   answerof-329923 ' value='1290878'   \/><label for='answer-id-1290878' id='answer-label-1290878' class=' answer'><span>2 and 3<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329923[]' id='answer-id-1290879' class='answer   answerof-329923 ' value='1290879'   \/><label for='answer-id-1290879' id='answer-label-1290879' class=' answer'><span>3 and 4<\/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-329924'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>At a construction company, an internal auditor is planning an audit of the company's process for designing and building grid connections. <br \/>\r<br>The process involves customers making payments m three parts <br \/>\r<br>&#8226; The first payment of 10% after approval of the customer s application <br \/>\r<br>&#8226; The second payment of 70% prior to construction <br \/>\r<br>&#8226; The third payment of 20% after construction is complete <br \/>\r<br>Which of the following key controls should the auditor test to ensure that the company is not taking any unwanted credit risks?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='329924' \/><input type='hidden' id='answerType329924' 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-329924[]' id='answer-id-1290880' class='answer   answerof-329924 ' value='1290880'   \/><label for='answer-id-1290880' id='answer-label-1290880' class=' answer'><span>Controls that ensure that grid connection design is finalized before construction is approved to begin<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329924[]' id='answer-id-1290881' class='answer   answerof-329924 ' value='1290881'   \/><label for='answer-id-1290881' id='answer-label-1290881' class=' answer'><span>Controls that ensure construction orders are initiated after the second invoice is paid<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329924[]' id='answer-id-1290882' class='answer   answerof-329924 ' value='1290882'   \/><label for='answer-id-1290882' id='answer-label-1290882' class=' answer'><span>Controls that ensure all three invoices are calculated correctly according to the total project cost<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329924[]' id='answer-id-1290883' class='answer   answerof-329924 ' value='1290883'   \/><label for='answer-id-1290883' id='answer-label-1290883' class=' answer'><span>Controls that ensure that applications are verified for approval prior to initiating design and construction<\/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-329925'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>'Internal policy prohibits employees from entering into contacts with financial obligations without proper approval. <br \/>\r<br>A project manager signed a change to an important service agreement without obtaining the proper approval As a result the organization is receiving $5,000 per month less for its services.\u2019\u2019 <br \/>\r<br>Which of the following should be added to the observation?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='329925' \/><input type='hidden' id='answerType329925' 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-329925[]' id='answer-id-1290884' class='answer   answerof-329925 ' value='1290884'   \/><label for='answer-id-1290884' id='answer-label-1290884' class=' answer'><span>The reason for not following the internal policy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329925[]' id='answer-id-1290885' class='answer   answerof-329925 ' value='1290885'   \/><label for='answer-id-1290885' id='answer-label-1290885' class=' answer'><span>A description of what constitutes proper approval<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329925[]' id='answer-id-1290886' class='answer   answerof-329925 ' value='1290886'   \/><label for='answer-id-1290886' id='answer-label-1290886' class=' answer'><span>The annual impact of the changed agreement on cash flows<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329925[]' id='answer-id-1290887' class='answer   answerof-329925 ' value='1290887'   \/><label for='answer-id-1290887' id='answer-label-1290887' class=' answer'><span>Details regarding when the change to the agreement was signed<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-329926'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Management has taken immediate action to address an observation received during an audit of the organization's manufacturing process. <br \/>\r<br>Which of the following is true regarding the validity of the observation closure?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='329926' \/><input type='hidden' id='answerType329926' 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-329926[]' id='answer-id-1290888' class='answer   answerof-329926 ' value='1290888'   \/><label for='answer-id-1290888' id='answer-label-1290888' class=' answer'><span>Valid closure requires evidence that ensures the corrected process will function as expected in the future<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329926[]' id='answer-id-1290889' class='answer   answerof-329926 ' value='1290889'   \/><label for='answer-id-1290889' id='answer-label-1290889' class=' answer'><span>Valid closure requires the client lo address not only the condition, but also the cause of the condition<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329926[]' id='answer-id-1290890' class='answer   answerof-329926 ' value='1290890'   \/><label for='answer-id-1290890' id='answer-label-1290890' class=' answer'><span>Valid closure of an observation ensures it will be included in the final engagement report<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329926[]' id='answer-id-1290891' class='answer   answerof-329926 ' value='1290891'   \/><label for='answer-id-1290891' id='answer-label-1290891' class=' answer'><span>Valid closure requires assurance from management that the original problem will not recur in the future<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-329927'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>An organization has a health and safety division that conducts audits to meet regulatory requirements. The chief health and safety officer reports directly to the CEO. <br \/>\r<br>Which of the following describes an appropriate role for the chief audit executive (CAE) with regard to the organization's health and safety program?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='329927' \/><input type='hidden' id='answerType329927' 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-329927[]' id='answer-id-1290892' class='answer   answerof-329927 ' value='1290892'   \/><label for='answer-id-1290892' id='answer-label-1290892' class=' answer'><span>The CAE has no role to play, because the chief health and safety officer reports to a senior executive.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329927[]' id='answer-id-1290893' class='answer   answerof-329927 ' value='1290893'   \/><label for='answer-id-1290893' id='answer-label-1290893' class=' answer'><span>The CAE should coordinate with, and review the work of, the chief health and safety officer to gain an understanding of whether risks related to health and safety are managed properly.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329927[]' id='answer-id-1290894' class='answer   answerof-329927 ' value='1290894'   \/><label for='answer-id-1290894' id='answer-label-1290894' class=' answer'><span>The CAE should give periodic reports directly to the regulator regarding health and safety issues, as it is the appropriate regulatory oversight body.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329927[]' id='answer-id-1290895' class='answer   answerof-329927 ' value='1290895'   \/><label for='answer-id-1290895' id='answer-label-1290895' class=' answer'><span>The CAE should hire an independent external specialist to conduct an annual assessment and provide assurance over the effectiveness of the health and safety program and the reliability of its reports.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-329928'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year All engagements should be appropriately categorized and presented to the chief audit executive for review. <br \/>\r<br>Which of the following would most likely be classified as a consulting engagement?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='329928' \/><input type='hidden' id='answerType329928' 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-329928[]' id='answer-id-1290896' class='answer   answerof-329928 ' value='1290896'   \/><label for='answer-id-1290896' id='answer-label-1290896' class=' answer'><span>Evaluating procurement department process effectiveness<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329928[]' id='answer-id-1290897' class='answer   answerof-329928 ' value='1290897'   \/><label for='answer-id-1290897' id='answer-label-1290897' class=' answer'><span>Helping in the design of the risk management program<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329928[]' id='answer-id-1290898' class='answer   answerof-329928 ' value='1290898'   \/><label for='answer-id-1290898' id='answer-label-1290898' class=' answer'><span>Assessing financial reporting control adequacy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329928[]' id='answer-id-1290899' class='answer   answerof-329928 ' value='1290899'   \/><label for='answer-id-1290899' id='answer-label-1290899' class=' answer'><span>Reviewing environmental, social, and governance reporting compliance<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-329929'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>According to the IIA guidance, which of the following foes the engagement work test in a review in a review of an organization al process?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='329929' \/><input type='hidden' id='answerType329929' 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-329929[]' id='answer-id-1290900' class='answer   answerof-329929 ' value='1290900'   \/><label for='answer-id-1290900' id='answer-label-1290900' class=' answer'><span>Process objectives<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329929[]' id='answer-id-1290901' class='answer   answerof-329929 ' value='1290901'   \/><label for='answer-id-1290901' id='answer-label-1290901' class=' answer'><span>Process risks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329929[]' id='answer-id-1290902' class='answer   answerof-329929 ' value='1290902'   \/><label for='answer-id-1290902' id='answer-label-1290902' class=' answer'><span>Process controls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329929[]' id='answer-id-1290903' class='answer   answerof-329929 ' value='1290903'   \/><label for='answer-id-1290903' id='answer-label-1290903' class=' answer'><span>Process scope<\/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-329930'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Upon concluding the engagement fieldwork an internal auditor discusses the audit findings with operational management. <br \/>\r<br>There is a greater likelihood that the auditor will obtain a responsive action plan from management when both parties agree on which of the following attributes of the audit finding?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='329930' \/><input type='hidden' id='answerType329930' 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-329930[]' id='answer-id-1290904' class='answer   answerof-329930 ' value='1290904'   \/><label for='answer-id-1290904' id='answer-label-1290904' class=' answer'><span>Criteria<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329930[]' id='answer-id-1290905' class='answer   answerof-329930 ' value='1290905'   \/><label for='answer-id-1290905' id='answer-label-1290905' class=' answer'><span>Condition<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329930[]' id='answer-id-1290906' class='answer   answerof-329930 ' value='1290906'   \/><label for='answer-id-1290906' id='answer-label-1290906' class=' answer'><span>Cause<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329930[]' id='answer-id-1290907' class='answer   answerof-329930 ' value='1290907'   \/><label for='answer-id-1290907' id='answer-label-1290907' class=' answer'><span>Effect<\/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-329931'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='329931' \/><input type='hidden' id='answerType329931' 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-329931[]' id='answer-id-1290908' class='answer   answerof-329931 ' value='1290908'   \/><label for='answer-id-1290908' id='answer-label-1290908' class=' answer'><span>Create an assurance map to illustrate each provider's level of assurance and planned activities for each area of the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329931[]' id='answer-id-1290909' class='answer   answerof-329931 ' value='1290909'   \/><label for='answer-id-1290909' id='answer-label-1290909' class=' answer'><span>LIMIT&copy; ricks inventory to identify the risks and controls in place and the relevant control owners.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329931[]' id='answer-id-1290910' class='answer   answerof-329931 ' value='1290910'   \/><label for='answer-id-1290910' id='answer-label-1290910' class=' answer'><span>Rely on the risk and control and management testing information maintained for compliance with the regulatory framework<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329931[]' id='answer-id-1290911' class='answer   answerof-329931 ' value='1290911'   \/><label for='answer-id-1290911' id='answer-label-1290911' class=' answer'><span>Prepare a risk likelihood and impact heal map to prioritize assurance coverage coordination.<\/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-329932'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>As a result of server managements assumption of risk there is residual risk that exceeds me organisation's risk appetite. <br \/>\r<br>Which of the following actions would be most appropriate for the chief audit executive to take?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='329932' \/><input type='hidden' id='answerType329932' 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-329932[]' id='answer-id-1290912' class='answer   answerof-329932 ' value='1290912'   \/><label for='answer-id-1290912' id='answer-label-1290912' class=' answer'><span>ignore the responsibility of addressing the residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329932[]' id='answer-id-1290913' class='answer   answerof-329932 ' value='1290913'   \/><label for='answer-id-1290913' id='answer-label-1290913' class=' answer'><span>Assume the responsibility of addressing the residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329932[]' id='answer-id-1290914' class='answer   answerof-329932 ' value='1290914'   \/><label for='answer-id-1290914' id='answer-label-1290914' class=' answer'><span>Ensure senior management acknowledges residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329932[]' id='answer-id-1290915' class='answer   answerof-329932 ' value='1290915'   \/><label for='answer-id-1290915' id='answer-label-1290915' class=' answer'><span>Communicate with the board the issue of residual risk<\/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-329933'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. <br \/>\r<br>According to IIA guidance, which of the following roles should the CAE not undertake?<\/div><input type='hidden' name='question_id[]' id='qID_42' value='329933' \/><input type='hidden' id='answerType329933' 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-329933[]' id='answer-id-1290916' class='answer   answerof-329933 ' value='1290916'   \/><label for='answer-id-1290916' id='answer-label-1290916' class=' answer'><span>Manage and coordinate risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329933[]' id='answer-id-1290917' class='answer   answerof-329933 ' value='1290917'   \/><label for='answer-id-1290917' id='answer-label-1290917' class=' answer'><span>Audit risk management processes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329933[]' id='answer-id-1290918' class='answer   answerof-329933 ' value='1290918'   \/><label for='answer-id-1290918' id='answer-label-1290918' class=' answer'><span>Become involved in risk oversight committees, monitoring activities, and status reporting.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329933[]' id='answer-id-1290919' class='answer   answerof-329933 ' value='1290919'   \/><label for='answer-id-1290919' id='answer-label-1290919' class=' answer'><span>Accept management's responsibility for risk management without board approval.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-329934'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>The amount of fuel purchased.<\/div><input type='hidden' name='question_id[]' id='qID_43' value='329934' \/><input type='hidden' id='answerType329934' 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-329934[]' id='answer-id-1290920' class='answer   answerof-329934 ' value='1290920'   \/><label for='answer-id-1290920' id='answer-label-1290920' class=' answer'><span>1 and 2<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329934[]' id='answer-id-1290921' class='answer   answerof-329934 ' value='1290921'   \/><label for='answer-id-1290921' id='answer-label-1290921' class=' answer'><span>1 and 4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329934[]' id='answer-id-1290922' class='answer   answerof-329934 ' value='1290922'   \/><label for='answer-id-1290922' id='answer-label-1290922' class=' answer'><span>2 and 3<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329934[]' id='answer-id-1290923' class='answer   answerof-329934 ' value='1290923'   \/><label for='answer-id-1290923' id='answer-label-1290923' class=' answer'><span>3 and 4<\/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-329935'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>Which of the following should be the focus of the effect section of the preliminary observations document?<\/div><input type='hidden' name='question_id[]' id='qID_44' value='329935' \/><input type='hidden' id='answerType329935' 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-329935[]' id='answer-id-1290924' class='answer   answerof-329935 ' value='1290924'   \/><label for='answer-id-1290924' id='answer-label-1290924' class=' answer'><span>Residual risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329935[]' id='answer-id-1290925' class='answer   answerof-329935 ' value='1290925'   \/><label for='answer-id-1290925' id='answer-label-1290925' class=' answer'><span>Inherent risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329935[]' id='answer-id-1290926' class='answer   answerof-329935 ' value='1290926'   \/><label for='answer-id-1290926' id='answer-label-1290926' class=' answer'><span>Compensating controls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329935[]' id='answer-id-1290927' class='answer   answerof-329935 ' value='1290927'   \/><label for='answer-id-1290927' id='answer-label-1290927' class=' answer'><span>Control activities<\/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-329936'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>An internal auditor completed a review of expenses related to the launch of a new project. The auditor sampled 45 transactions approved by a senior project manager and identified 30 with questionable vendor documentation. <br \/>\r<br>Which of the following is the most appropriate conclusion for the auditor to include in the audit report?<\/div><input type='hidden' name='question_id[]' id='qID_45' value='329936' \/><input type='hidden' id='answerType329936' 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-329936[]' id='answer-id-1290928' class='answer   answerof-329936 ' value='1290928'   \/><label for='answer-id-1290928' id='answer-label-1290928' class=' answer'><span>The organization incurred excessive cost overruns that resulted in significant financial and legal risk to the project.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329936[]' id='answer-id-1290929' class='answer   answerof-329936 ' value='1290929'   \/><label for='answer-id-1290929' id='answer-label-1290929' class=' answer'><span>The organization experienced a potential conflict of interest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329936[]' id='answer-id-1290930' class='answer   answerof-329936 ' value='1290930'   \/><label for='answer-id-1290930' id='answer-label-1290930' class=' answer'><span>The organization had weaknesses in its review process which allowed questionable transactions with some vendors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329936[]' id='answer-id-1290931' class='answer   answerof-329936 ' value='1290931'   \/><label for='answer-id-1290931' id='answer-label-1290931' class=' answer'><span>The organization allowed the project to launch without assurance that all transactions were regularly approved<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-329937'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>During a consulting engagement an internal auditor wants to determine whether all principal stakeholders are involved in a project. <br \/>\r<br>Which tool should the auditor use?<\/div><input type='hidden' name='question_id[]' id='qID_46' value='329937' \/><input type='hidden' id='answerType329937' 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-329937[]' id='answer-id-1290932' class='answer   answerof-329937 ' value='1290932'   \/><label for='answer-id-1290932' id='answer-label-1290932' class=' answer'><span>RACI (responsible, accountable, consult and inform) chart<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329937[]' id='answer-id-1290933' class='answer   answerof-329937 ' value='1290933'   \/><label for='answer-id-1290933' id='answer-label-1290933' class=' answer'><span>Flowchart<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329937[]' id='answer-id-1290934' class='answer   answerof-329937 ' value='1290934'   \/><label for='answer-id-1290934' id='answer-label-1290934' class=' answer'><span>SWOT {strengths. weaknesses opportunities, and threats) analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329937[]' id='answer-id-1290935' class='answer   answerof-329937 ' value='1290935'   \/><label for='answer-id-1290935' id='answer-label-1290935' class=' answer'><span>Workflow analysis<\/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-329938'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>Which of the following would not be a typical activity for the chief audit executive to perform following an audit engagement?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='329938' \/><input type='hidden' id='answerType329938' 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-329938[]' id='answer-id-1290936' class='answer   answerof-329938 ' value='1290936'   \/><label for='answer-id-1290936' id='answer-label-1290936' class=' answer'><span>Report follow-up activities to senior management.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329938[]' id='answer-id-1290937' class='answer   answerof-329938 ' value='1290937'   \/><label for='answer-id-1290937' id='answer-label-1290937' class=' answer'><span>Implement follow-up procedures to evaluate residual risk.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329938[]' id='answer-id-1290938' class='answer   answerof-329938 ' value='1290938'   \/><label for='answer-id-1290938' id='answer-label-1290938' class=' answer'><span>Determine the costs of implementing the recommendations.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329938[]' id='answer-id-1290939' class='answer   answerof-329938 ' value='1290939'   \/><label for='answer-id-1290939' id='answer-label-1290939' class=' answer'><span>Evaluate the extent of improvements.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-329939'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>According to IIA guidance, which of the following reflects a characteristic of sufficient and reliable information?<\/div><input type='hidden' name='question_id[]' id='qID_48' value='329939' \/><input type='hidden' id='answerType329939' 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-329939[]' id='answer-id-1290940' class='answer   answerof-329939 ' value='1290940'   \/><label for='answer-id-1290940' id='answer-label-1290940' class=' answer'><span>The establishment of an audit approach and documentation system<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329939[]' id='answer-id-1290941' class='answer   answerof-329939 ' value='1290941'   \/><label for='answer-id-1290941' id='answer-label-1290941' class=' answer'><span>The standardization of workpaper terminology and notations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329939[]' id='answer-id-1290942' class='answer   answerof-329939 ' value='1290942'   \/><label for='answer-id-1290942' id='answer-label-1290942' class=' answer'><span>The ability to reach consistent audit conclusions regardless of who performs the audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329939[]' id='answer-id-1290943' class='answer   answerof-329939 ' value='1290943'   \/><label for='answer-id-1290943' id='answer-label-1290943' class=' answer'><span>The application of documentation standards m an appropriate and consistent manner<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-329940'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>Is the documentation easily accessible to an persons who need in to perform their job? <br \/>\r<br>Which of the following is a drawback of testing methods like this?<\/div><input type='hidden' name='question_id[]' id='qID_49' value='329940' \/><input type='hidden' id='answerType329940' 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-329940[]' id='answer-id-1290944' class='answer   answerof-329940 ' value='1290944'   \/><label for='answer-id-1290944' id='answer-label-1290944' class=' answer'><span>They ore kitted as they do not allow the auditor to test many controls.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329940[]' id='answer-id-1290945' class='answer   answerof-329940 ' value='1290945'   \/><label for='answer-id-1290945' id='answer-label-1290945' class=' answer'><span>They do not highlight control gaps<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329940[]' id='answer-id-1290946' class='answer   answerof-329940 ' value='1290946'   \/><label for='answer-id-1290946' id='answer-label-1290946' class=' answer'><span>They are not useful for identifying areas on which the auditor should locus.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329940[]' id='answer-id-1290947' class='answer   answerof-329940 ' value='1290947'   \/><label for='answer-id-1290947' id='answer-label-1290947' class=' answer'><span>They are limited as there is a risk that management may not answer fairly.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-329941'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>A toy manufacturer receives certain components from an overseas supplier and uses them to assemble final products Recently quality reviews have identified numerous issues regarding the components' compliance with mandatory quality standards. <br \/>\r<br>Which type of engagement would be most appropriate to assess the root causes of the quality issues?<\/div><input type='hidden' name='question_id[]' id='qID_50' value='329941' \/><input type='hidden' id='answerType329941' 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-329941[]' id='answer-id-1290948' class='answer   answerof-329941 ' value='1290948'   \/><label for='answer-id-1290948' id='answer-label-1290948' class=' answer'><span>A risk assessment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329941[]' id='answer-id-1290949' class='answer   answerof-329941 ' value='1290949'   \/><label for='answer-id-1290949' id='answer-label-1290949' class=' answer'><span>An operational audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329941[]' id='answer-id-1290950' class='answer   answerof-329941 ' value='1290950'   \/><label for='answer-id-1290950' id='answer-label-1290950' class=' answer'><span>A third-party audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329941[]' id='answer-id-1290951' class='answer   answerof-329941 ' value='1290951'   \/><label for='answer-id-1290951' id='answer-label-1290951' class=' answer'><span>A fraud investigation<\/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-329942'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>An internal auditor collected several employee testimonials. <br \/>\r<br>Which of the following is the best action for the internal auditor to take before drawing a conclusion?<\/div><input type='hidden' name='question_id[]' id='qID_51' value='329942' \/><input type='hidden' id='answerType329942' 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-329942[]' id='answer-id-1290952' class='answer   answerof-329942 ' value='1290952'   \/><label for='answer-id-1290952' id='answer-label-1290952' class=' answer'><span>Ensure the testimonials are well documented<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329942[]' id='answer-id-1290953' class='answer   answerof-329942 ' value='1290953'   \/><label for='answer-id-1290953' id='answer-label-1290953' class=' answer'><span>Substantiate the testimonials with physical or documentary evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329942[]' id='answer-id-1290954' class='answer   answerof-329942 ' value='1290954'   \/><label for='answer-id-1290954' id='answer-label-1290954' class=' answer'><span>Corroborate testimonials with the results from other soft control techniques<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329942[]' id='answer-id-1290955' class='answer   answerof-329942 ' value='1290955'   \/><label for='answer-id-1290955' id='answer-label-1290955' class=' answer'><span>Review the testimonials with the interviewed employees<\/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-329943'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>An organization recently acquired a subsidiary in a new industry, and management asked the chief audit executive (CAE) to perform a comprehensive audit of the subsidiary prior to recommencing operations. The CAE is unsure her team has the necessary skills and knowledge to accept the engagement According to IIAguidance, which of the following responses by the CAE would be most appropriate?<\/div><input type='hidden' name='question_id[]' id='qID_52' value='329943' \/><input type='hidden' id='answerType329943' 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-329943[]' id='answer-id-1290956' class='answer   answerof-329943 ' value='1290956'   \/><label for='answer-id-1290956' id='answer-label-1290956' class=' answer'><span>The CAE should accept the engagement and ensure that an explanation of the expertise limitations is included in the final audit report.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329943[]' id='answer-id-1290957' class='answer   answerof-329943 ' value='1290957'   \/><label for='answer-id-1290957' id='answer-label-1290957' class=' answer'><span>The CAE should ask management to hire an external expert who is familiar with the industry to perform an independent audit for management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329943[]' id='answer-id-1290958' class='answer   answerof-329943 ' value='1290958'   \/><label for='answer-id-1290958' id='answer-label-1290958' class=' answer'><span>The CAE should accept the engagement and hire an external expert to assist the audit team with the audit of the subsidiary<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329943[]' id='answer-id-1290959' class='answer   answerof-329943 ' value='1290959'   \/><label for='answer-id-1290959' id='answer-label-1290959' class=' answer'><span>The CAE should recommend postponing the engagement until the internal audit team is able to develop sufficient knowledge of the new industry<\/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-329944'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>An internal auditor conducted interviews with several employees, documented the interviews analyzed the summaries, and drew a number of conclusions. <br \/>\r<br>What sort of audit evidence has the internal auditor primarily obtained?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='329944' \/><input type='hidden' id='answerType329944' 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-329944[]' id='answer-id-1290960' class='answer   answerof-329944 ' value='1290960'   \/><label for='answer-id-1290960' id='answer-label-1290960' class=' answer'><span>Documentary evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329944[]' id='answer-id-1290961' class='answer   answerof-329944 ' value='1290961'   \/><label for='answer-id-1290961' id='answer-label-1290961' class=' answer'><span>Testimonial evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329944[]' id='answer-id-1290962' class='answer   answerof-329944 ' value='1290962'   \/><label for='answer-id-1290962' id='answer-label-1290962' class=' answer'><span>Analytical evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329944[]' id='answer-id-1290963' class='answer   answerof-329944 ' value='1290963'   \/><label for='answer-id-1290963' id='answer-label-1290963' class=' answer'><span>Physical evidence<\/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-329945'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>An audit observation states the following: <br \/>\r<br>&quot;Despite the rules of the organization there is no approved credit risk management policy in the subsidiary. The subsidiary is concluding contacts with clients who have very high credit ratings. The internal audit team tested 50 contacts and 17 showed clients with a poor credit history&quot; <br \/>\r<br>Which of the following components are missing in the observation?<\/div><input type='hidden' name='question_id[]' id='qID_54' value='329945' \/><input type='hidden' id='answerType329945' 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-329945[]' id='answer-id-1290964' class='answer   answerof-329945 ' value='1290964'   \/><label for='answer-id-1290964' id='answer-label-1290964' class=' answer'><span>Cause and effect.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329945[]' id='answer-id-1290965' class='answer   answerof-329945 ' value='1290965'   \/><label for='answer-id-1290965' id='answer-label-1290965' class=' answer'><span>Effect and criteria<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329945[]' id='answer-id-1290966' class='answer   answerof-329945 ' value='1290966'   \/><label for='answer-id-1290966' id='answer-label-1290966' class=' answer'><span>Condition and cause<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329945[]' id='answer-id-1290967' class='answer   answerof-329945 ' value='1290967'   \/><label for='answer-id-1290967' id='answer-label-1290967' class=' answer'><span>Criteria and condition.<\/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-329946'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>A preliminary observation document contains more detail than tie observation description in the engagement workpapers<\/div><input type='hidden' name='question_id[]' id='qID_55' value='329946' \/><input type='hidden' id='answerType329946' 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-329946[]' id='answer-id-1290968' class='answer   answerof-329946 ' value='1290968'   \/><label for='answer-id-1290968' id='answer-label-1290968' class=' answer'><span>1 and 2<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329946[]' id='answer-id-1290969' class='answer   answerof-329946 ' value='1290969'   \/><label for='answer-id-1290969' id='answer-label-1290969' class=' answer'><span>1 and 4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329946[]' id='answer-id-1290970' class='answer   answerof-329946 ' value='1290970'   \/><label for='answer-id-1290970' id='answer-label-1290970' class=' answer'><span>2 and3<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329946[]' id='answer-id-1290971' class='answer   answerof-329946 ' value='1290971'   \/><label for='answer-id-1290971' id='answer-label-1290971' class=' answer'><span>3 and 4<\/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-329947'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?<\/div><input type='hidden' name='question_id[]' id='qID_56' value='329947' \/><input type='hidden' id='answerType329947' 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-329947[]' id='answer-id-1290972' class='answer   answerof-329947 ' value='1290972'   \/><label for='answer-id-1290972' id='answer-label-1290972' class=' answer'><span>A review of password policy compliance found that employees frequently use the same password more than once during a year. The IAA recommends that the access control software reject any password used more than once during a 12-month period.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329947[]' id='answer-id-1290973' class='answer   answerof-329947 ' value='1290973'   \/><label for='answer-id-1290973' id='answer-label-1290973' class=' answer'><span>A review of internal service-level agreement compliance in financial services found that requests for information frequently are fulfilled up to two weeks late. The IAA recommends that the financial services unit be eliminated for its ineffectiveness.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329947[]' id='answer-id-1290974' class='answer   answerof-329947 ' value='1290974'   \/><label for='answer-id-1290974' id='answer-label-1290974' class=' answer'><span>A vacation policy compliance review found that employees frequently leave on vacation before their leave applications are signed by their manager. The IAA recommends that the manager attend to the leave applications in a more timely fashion.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329947[]' id='answer-id-1290975' class='answer   answerof-329947 ' value='1290975'   \/><label for='answer-id-1290975' id='answer-label-1290975' class=' answer'><span>A review of customer service-level agreements found that orders to several customers are frequently delivered late. The IAA recommends that the organization extend the expected delivery time advertised on its website.<\/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-329948'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Which of the following statements concerning workpapers is the most accurate?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='329948' \/><input type='hidden' id='answerType329948' 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-329948[]' id='answer-id-1290976' class='answer   answerof-329948 ' value='1290976'   \/><label for='answer-id-1290976' id='answer-label-1290976' class=' answer'><span>The organization and the format of workpapers is the same for all engagements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329948[]' id='answer-id-1290977' class='answer   answerof-329948 ' value='1290977'   \/><label for='answer-id-1290977' id='answer-label-1290977' class=' answer'><span>The extent of what is included in workpapers is a matter of professional judgment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329948[]' id='answer-id-1290978' class='answer   answerof-329948 ' value='1290978'   \/><label for='answer-id-1290978' id='answer-label-1290978' class=' answer'><span>Workpapers should be complete so that every conceivable question that can be raised should be answered<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329948[]' id='answer-id-1290979' class='answer   answerof-329948 ' value='1290979'   \/><label for='answer-id-1290979' id='answer-label-1290979' class=' answer'><span>Copies of operational managements records should not be included, but referenced so that they can be located<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-329949'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>In which of the following populations would the internal auditor most likely choose to use a stratified sampling approach?<\/div><input type='hidden' name='question_id[]' id='qID_58' value='329949' \/><input type='hidden' id='answerType329949' 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-329949[]' id='answer-id-1290980' class='answer   answerof-329949 ' value='1290980'   \/><label for='answer-id-1290980' id='answer-label-1290980' class=' answer'><span>Inventory comprised of the same items stored in different warehouses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329949[]' id='answer-id-1290981' class='answer   answerof-329949 ' value='1290981'   \/><label for='answer-id-1290981' id='answer-label-1290981' class=' answer'><span>Batches of materials that must be confirmed as meeting quality standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329949[]' id='answer-id-1290982' class='answer   answerof-329949 ' value='1290982'   \/><label for='answer-id-1290982' id='answer-label-1290982' class=' answer'><span>Revenue that is earned by an organization through cash receipts or as receivable.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329949[]' id='answer-id-1290983' class='answer   answerof-329949 ' value='1290983'   \/><label for='answer-id-1290983' id='answer-label-1290983' class=' answer'><span>Tax reports submitted to meet the requirements of the local taxation authority<\/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-329950'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>An internal auditor is asked to review a recently completed renovation to a retail outlet. <br \/>\r<br>Which of the following would provide the most reliable evidence that the completed work conformed to the plan?<\/div><input type='hidden' name='question_id[]' id='qID_59' value='329950' \/><input type='hidden' id='answerType329950' 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-329950[]' id='answer-id-1290984' class='answer   answerof-329950 ' value='1290984'   \/><label for='answer-id-1290984' id='answer-label-1290984' class=' answer'><span>An interview with the employee who performed the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329950[]' id='answer-id-1290985' class='answer   answerof-329950 ' value='1290985'   \/><label for='answer-id-1290985' id='answer-label-1290985' class=' answer'><span>An analysis of purchasing and receiving documentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329950[]' id='answer-id-1290986' class='answer   answerof-329950 ' value='1290986'   \/><label for='answer-id-1290986' id='answer-label-1290986' class=' answer'><span>Existence of a signed completion document accepting the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329950[]' id='answer-id-1290987' class='answer   answerof-329950 ' value='1290987'   \/><label for='answer-id-1290987' id='answer-label-1290987' class=' answer'><span>A physical inspection of the retail outlet.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-329951'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>A chief audit executive's report to the board showed a significant trend of recent aud4s going over planned budgeted hours. <br \/>\r<br>Which of the following factors could cause this trend?<\/div><input type='hidden' name='question_id[]' id='qID_60' value='329951' \/><input type='hidden' id='answerType329951' 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-329951[]' id='answer-id-1290988' class='answer   answerof-329951 ' value='1290988'   \/><label for='answer-id-1290988' id='answer-label-1290988' class=' answer'><span>Poor engagement supervision<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329951[]' id='answer-id-1290989' class='answer   answerof-329951 ' value='1290989'   \/><label for='answer-id-1290989' id='answer-label-1290989' class=' answer'><span>ineffective board reporting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329951[]' id='answer-id-1290990' class='answer   answerof-329951 ' value='1290990'   \/><label for='answer-id-1290990' id='answer-label-1290990' class=' answer'><span>Untimely observation follows up and closure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329951[]' id='answer-id-1290991' class='answer   answerof-329951 ' value='1290991'   \/><label for='answer-id-1290991' id='answer-label-1290991' class=' answer'><span>Limited staff resources<\/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-329952'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>According to IIA guidance, which of the following statements best justifies a chief audit executive's request for external consultants to complement internal audit activity (IAA) resources?<\/div><input type='hidden' name='question_id[]' id='qID_61' value='329952' \/><input type='hidden' id='answerType329952' 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-329952[]' id='answer-id-1290992' class='answer   answerof-329952 ' value='1290992'   \/><label for='answer-id-1290992' id='answer-label-1290992' class=' answer'><span>The organization's audit universe is extensive and diverse.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329952[]' id='answer-id-1290993' class='answer   answerof-329952 ' value='1290993'   \/><label for='answer-id-1290993' id='answer-label-1290993' class=' answer'><span>There has been an increase in unanticipated requests for advisory work.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329952[]' id='answer-id-1290994' class='answer   answerof-329952 ' value='1290994'   \/><label for='answer-id-1290994' id='answer-label-1290994' class=' answer'><span>Previous work provided by the external service provider has been of great quality and value.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329952[]' id='answer-id-1290995' class='answer   answerof-329952 ' value='1290995'   \/><label for='answer-id-1290995' id='answer-label-1290995' class=' answer'><span>A recent benchmarking study found that using external service providers is a common practice of similarly-sized IAAs in other organizations.<\/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-329953'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>An internal auditor suspects that employee turnover is unusually high at the organization's primary manufacturing plant. <br \/>\r<br>To investigate this potential issue which of the following analytical approaches is the auditor likely to use?<\/div><input type='hidden' name='question_id[]' id='qID_62' value='329953' \/><input type='hidden' id='answerType329953' 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-329953[]' id='answer-id-1290996' class='answer   answerof-329953 ' value='1290996'   \/><label for='answer-id-1290996' id='answer-label-1290996' class=' answer'><span>Ratio analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329953[]' id='answer-id-1290997' class='answer   answerof-329953 ' value='1290997'   \/><label for='answer-id-1290997' id='answer-label-1290997' class=' answer'><span>Vertical analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329953[]' id='answer-id-1290998' class='answer   answerof-329953 ' value='1290998'   \/><label for='answer-id-1290998' id='answer-label-1290998' class=' answer'><span>Benchmarking<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329953[]' id='answer-id-1290999' class='answer   answerof-329953 ' value='1290999'   \/><label for='answer-id-1290999' id='answer-label-1290999' class=' answer'><span>Cost-benefit analysis.<\/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-329954'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>Which of the following should be described in the recognition element of a typical internal audit repot?<\/div><input type='hidden' name='question_id[]' id='qID_63' value='329954' \/><input type='hidden' id='answerType329954' 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-329954[]' id='answer-id-1291000' class='answer   answerof-329954 ' value='1291000'   \/><label for='answer-id-1291000' id='answer-label-1291000' class=' answer'><span>Positive aspects of the process or area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329954[]' id='answer-id-1291001' class='answer   answerof-329954 ' value='1291001'   \/><label for='answer-id-1291001' id='answer-label-1291001' class=' answer'><span>A brief synopsis of the process of area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329954[]' id='answer-id-1291002' class='answer   answerof-329954 ' value='1291002'   \/><label for='answer-id-1291002' id='answer-label-1291002' class=' answer'><span>Outcomes and ratings of the process or area under review<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329954[]' id='answer-id-1291003' class='answer   answerof-329954 ' value='1291003'   \/><label for='answer-id-1291003' id='answer-label-1291003' class=' answer'><span>Report issuance and the communication process of the engagement.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-329955'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>According to IIA guidance which of the following statements is true regarding heat maps?<\/div><input type='hidden' name='question_id[]' id='qID_64' value='329955' \/><input type='hidden' id='answerType329955' 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-329955[]' id='answer-id-1291004' class='answer   answerof-329955 ' value='1291004'   \/><label for='answer-id-1291004' id='answer-label-1291004' class=' answer'><span>A heat map sets likelihood to have higher priority than impact.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329955[]' id='answer-id-1291005' class='answer   answerof-329955 ' value='1291005'   \/><label for='answer-id-1291005' id='answer-label-1291005' class=' answer'><span>A heat map sets impact to have higher priority than likelihood.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329955[]' id='answer-id-1291006' class='answer   answerof-329955 ' value='1291006'   \/><label for='answer-id-1291006' id='answer-label-1291006' class=' answer'><span>A heat map recognizes that the priority of impact and likelihood can vary.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329955[]' id='answer-id-1291007' class='answer   answerof-329955 ' value='1291007'   \/><label for='answer-id-1291007' id='answer-label-1291007' class=' answer'><span>A heat map recognizes impact and likelihood as equally important<\/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-329956'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>An internal auditor is examining the organization's internal control processes. <br \/>\r<br>Which of the following would the auditor do to test the reliability of a customer database1?<\/div><input type='hidden' name='question_id[]' id='qID_65' value='329956' \/><input type='hidden' id='answerType329956' 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-329956[]' id='answer-id-1291008' class='answer   answerof-329956 ' value='1291008'   \/><label for='answer-id-1291008' id='answer-label-1291008' class=' answer'><span>Perform a site visit to see whether the organization's servers are operational<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329956[]' id='answer-id-1291009' class='answer   answerof-329956 ' value='1291009'   \/><label for='answer-id-1291009' id='answer-label-1291009' class=' answer'><span>Interview end users to determine whether they understand how to use the database information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329956[]' id='answer-id-1291010' class='answer   answerof-329956 ' value='1291010'   \/><label for='answer-id-1291010' id='answer-label-1291010' class=' answer'><span>Determine whether policies are in place on how to use the database information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329956[]' id='answer-id-1291011' class='answer   answerof-329956 ' value='1291011'   \/><label for='answer-id-1291011' id='answer-label-1291011' class=' answer'><span>Review for indications of potential issues with the database information<\/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-329957'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>An internal audit team leader is having difficulties completing the planning phase of an assurance engagement because the business unit lacks a system of internal controls. <br \/>\r<br>Which of the following is the most appropriate course of action for the internal audit team leader?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='329957' \/><input type='hidden' id='answerType329957' 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-329957[]' id='answer-id-1291012' class='answer   answerof-329957 ' value='1291012'   \/><label for='answer-id-1291012' id='answer-label-1291012' class=' answer'><span>Defer the engagement until a system of internal control has been established<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329957[]' id='answer-id-1291013' class='answer   answerof-329957 ' value='1291013'   \/><label for='answer-id-1291013' id='answer-label-1291013' class=' answer'><span>Change the scheduled engagement from assurance to consulting to help correct the shortcomings<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329957[]' id='answer-id-1291014' class='answer   answerof-329957 ' value='1291014'   \/><label for='answer-id-1291014' id='answer-label-1291014' class=' answer'><span>Add a consulting component to the already scheduled assurance engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329957[]' id='answer-id-1291015' class='answer   answerof-329957 ' value='1291015'   \/><label for='answer-id-1291015' id='answer-label-1291015' class=' answer'><span>Seek the involvement of the external auditor to assist with improving the internal controls<\/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-329958'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>The audit manager asked the internal auditor to perform additional testing because several irregularities were found in the financial information. <br \/>\r<br>Which of the following would be the most appropriate analytical review for the auditor to perform?<\/div><input type='hidden' name='question_id[]' id='qID_67' value='329958' \/><input type='hidden' id='answerType329958' 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-329958[]' id='answer-id-1291016' class='answer   answerof-329958 ' value='1291016'   \/><label for='answer-id-1291016' id='answer-label-1291016' class=' answer'><span>Compare the firm's financial performance with organizations in the same industry<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329958[]' id='answer-id-1291017' class='answer   answerof-329958 ' value='1291017'   \/><label for='answer-id-1291017' id='answer-label-1291017' class=' answer'><span>Interview all managers involved in preparing the financial statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329958[]' id='answer-id-1291018' class='answer   answerof-329958 ' value='1291018'   \/><label for='answer-id-1291018' id='answer-label-1291018' class=' answer'><span>Perform a bank reconciliation to confirm the cash balance in the financial statements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329958[]' id='answer-id-1291019' class='answer   answerof-329958 ' value='1291019'   \/><label for='answer-id-1291019' id='answer-label-1291019' class=' answer'><span>Trace each financial transaction to the original supporting document<\/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-329959'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>An organization's finance manager plans to implement a state-of-the-art management system to better manage the organization's receivables. The finance manager consulted the chief audit executive (CAE) and asked for her assistance in determining whether the organization is able to accommodate this system. <br \/>\r<br>How would the CAE proceed to determine the objectives of this engagement?<\/div><input type='hidden' name='question_id[]' id='qID_68' value='329959' \/><input type='hidden' id='answerType329959' 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-329959[]' id='answer-id-1291020' class='answer   answerof-329959 ' value='1291020'   \/><label for='answer-id-1291020' id='answer-label-1291020' class=' answer'><span>Ask the CEO to determine the scope and objectives of the engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329959[]' id='answer-id-1291021' class='answer   answerof-329959 ' value='1291021'   \/><label for='answer-id-1291021' id='answer-label-1291021' class=' answer'><span>Request that the board disclose its concerns over governance for inclusion in the engagement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329959[]' id='answer-id-1291022' class='answer   answerof-329959 ' value='1291022'   \/><label for='answer-id-1291022' id='answer-label-1291022' class=' answer'><span>Discuss the concerns with the finance manager and work together to agree on the engagement objectives<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329959[]' id='answer-id-1291023' class='answer   answerof-329959 ' value='1291023'   \/><label for='answer-id-1291023' id='answer-label-1291023' class=' answer'><span>Review previous audit reports from the area and develop engagement objectives to address the area's key risks and controls<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-329960'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>The final internal audit report should be distributed to which of the following individuals?<\/div><input type='hidden' name='question_id[]' id='qID_69' value='329960' \/><input type='hidden' id='answerType329960' 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-329960[]' id='answer-id-1291024' class='answer   answerof-329960 ' value='1291024'   \/><label for='answer-id-1291024' id='answer-label-1291024' class=' answer'><span>Audit client management only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329960[]' id='answer-id-1291025' class='answer   answerof-329960 ' value='1291025'   \/><label for='answer-id-1291025' id='answer-label-1291025' class=' answer'><span>Executive management only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329960[]' id='answer-id-1291026' class='answer   answerof-329960 ' value='1291026'   \/><label for='answer-id-1291026' id='answer-label-1291026' class=' answer'><span>Audit client management, executive management, and others approved by the chief audit executive.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329960[]' id='answer-id-1291027' class='answer   answerof-329960 ' value='1291027'   \/><label for='answer-id-1291027' id='answer-label-1291027' class=' answer'><span>Audit client management, executive management, and any those who request a copy.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-329961'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>Which of the following statements is false regarding audit criteria?<\/div><input type='hidden' name='question_id[]' id='qID_70' value='329961' \/><input type='hidden' id='answerType329961' 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-329961[]' id='answer-id-1291028' class='answer   answerof-329961 ' value='1291028'   \/><label for='answer-id-1291028' id='answer-label-1291028' class=' answer'><span>Audit criteria should be consistent across audit assignments.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329961[]' id='answer-id-1291029' class='answer   answerof-329961 ' value='1291029'   \/><label for='answer-id-1291029' id='answer-label-1291029' class=' answer'><span>Audit criteria should represent reasonable standards against which to assess existing conditions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329961[]' id='answer-id-1291030' class='answer   answerof-329961 ' value='1291030'   \/><label for='answer-id-1291030' id='answer-label-1291030' class=' answer'><span>Audit criteria should provide flexibility but allow identification of nonadherence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329961[]' id='answer-id-1291031' class='answer   answerof-329961 ' value='1291031'   \/><label for='answer-id-1291031' id='answer-label-1291031' class=' answer'><span>Audit criteria should equate to good or acceptable management practices.<\/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-329962'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>An internal auditor is preparing for an auditor of newly implemented software that is used by 3,000 employees in South America and Europe. <br \/>\r<br>What would be the best way for the auditor to gather relevant feedback?<\/div><input type='hidden' name='question_id[]' id='qID_71' value='329962' \/><input type='hidden' id='answerType329962' 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-329962[]' id='answer-id-1291032' class='answer   answerof-329962 ' value='1291032'   \/><label for='answer-id-1291032' id='answer-label-1291032' class=' answer'><span>interview IT management in both regions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329962[]' id='answer-id-1291033' class='answer   answerof-329962 ' value='1291033'   \/><label for='answer-id-1291033' id='answer-label-1291033' class=' answer'><span>Inspect regional user software training records<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329962[]' id='answer-id-1291034' class='answer   answerof-329962 ' value='1291034'   \/><label for='answer-id-1291034' id='answer-label-1291034' class=' answer'><span>Interview propel management and the vendor responsible for implementation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329962[]' id='answer-id-1291035' class='answer   answerof-329962 ' value='1291035'   \/><label for='answer-id-1291035' id='answer-label-1291035' class=' answer'><span>Distribute surveys to software users in both regions<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-329963'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>During the fieldwork phase of an assurance engagement, the internal auditor decides that she wants to adjust the audit work program. Which of the following is the most appropriate next step for the auditor to take?<\/div><input type='hidden' name='question_id[]' id='qID_72' value='329963' \/><input type='hidden' id='answerType329963' 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-329963[]' id='answer-id-1291036' class='answer   answerof-329963 ' value='1291036'   \/><label for='answer-id-1291036' id='answer-label-1291036' class=' answer'><span>Request additional information needed from management of the area under review.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329963[]' id='answer-id-1291037' class='answer   answerof-329963 ' value='1291037'   \/><label for='answer-id-1291037' id='answer-label-1291037' class=' answer'><span>Obtain approval from the engagement supervisor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329963[]' id='answer-id-1291038' class='answer   answerof-329963 ' value='1291038'   \/><label for='answer-id-1291038' id='answer-label-1291038' class=' answer'><span>Obtain the required resources, including I<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329963[]' id='answer-id-1291039' class='answer   answerof-329963 ' value='1291039'   \/><label for='answer-id-1291039' id='answer-label-1291039' class=' answer'><span>to complete the work<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329963[]' id='answer-id-1291040' class='answer   answerof-329963 ' value='1291040'   \/><label for='answer-id-1291040' id='answer-label-1291040' class=' answer'><span>Discuss the change in scope with management of the area under review.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-329964'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>Which of the following factors would the auditor in charge be least likely to consider when assigning tasks to audit team members for an engagement?<\/div><input type='hidden' name='question_id[]' id='qID_73' value='329964' \/><input type='hidden' id='answerType329964' 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-329964[]' id='answer-id-1291041' class='answer   answerof-329964 ' value='1291041'   \/><label for='answer-id-1291041' id='answer-label-1291041' class=' answer'><span>The amount of experience the auditors have conducting audits in the specific area of the organization.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329964[]' id='answer-id-1291042' class='answer   answerof-329964 ' value='1291042'   \/><label for='answer-id-1291042' id='answer-label-1291042' class=' answer'><span>The availability of the auditors in relation to the availability of key client staff.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329964[]' id='answer-id-1291043' class='answer   answerof-329964 ' value='1291043'   \/><label for='answer-id-1291043' id='answer-label-1291043' class=' answer'><span>Whether the budgeted hours are sufficient to complete the audit within the current scope.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329964[]' id='answer-id-1291044' class='answer   answerof-329964 ' value='1291044'   \/><label for='answer-id-1291044' id='answer-label-1291044' class=' answer'><span>Whether outside resources will be needed, and their availability.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-329965'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>Which of the following is the most important concept to be included in a consulting engagement agreement?<\/div><input type='hidden' name='question_id[]' id='qID_74' value='329965' \/><input type='hidden' id='answerType329965' 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-329965[]' id='answer-id-1291045' class='answer   answerof-329965 ' value='1291045'   \/><label for='answer-id-1291045' id='answer-label-1291045' class=' answer'><span>Define the duties and responsibilities needed from management to perform the engagement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329965[]' id='answer-id-1291046' class='answer   answerof-329965 ' value='1291046'   \/><label for='answer-id-1291046' id='answer-label-1291046' class=' answer'><span>Disclose the fact that auditors who perform the work may not be subject matter experts in the topic of the review.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329965[]' id='answer-id-1291047' class='answer   answerof-329965 ' value='1291047'   \/><label for='answer-id-1291047' id='answer-label-1291047' class=' answer'><span>Clarify that matters discovered during the engagement may also be reported to senior management and the audit committee.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329965[]' id='answer-id-1291048' class='answer   answerof-329965 ' value='1291048'   \/><label for='answer-id-1291048' id='answer-label-1291048' class=' answer'><span>Disclose the fact that follow-up reviews may be conducted to ensure that recommendations are implemented adequately.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-329966'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services from the internal audit activity to gain insight regarding the external risks. <br \/>\r<br>Which of the following engagement objectives would be appropriate to fulfill this request?<\/div><input type='hidden' name='question_id[]' id='qID_75' value='329966' \/><input type='hidden' id='answerType329966' 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-329966[]' id='answer-id-1291049' class='answer   answerof-329966 ' value='1291049'   \/><label for='answer-id-1291049' id='answer-label-1291049' class=' answer'><span>Assess the organization's ability to minimize potential external risks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329966[]' id='answer-id-1291050' class='answer   answerof-329966 ' value='1291050'   \/><label for='answer-id-1291050' id='answer-label-1291050' class=' answer'><span>Assess the organization's process of vetting vendors that provide necessary services to the organization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329966[]' id='answer-id-1291051' class='answer   answerof-329966 ' value='1291051'   \/><label for='answer-id-1291051' id='answer-label-1291051' class=' answer'><span>Assess the organization's risk impacts from the markets in which it operates<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329966[]' id='answer-id-1291052' class='answer   answerof-329966 ' value='1291052'   \/><label for='answer-id-1291052' id='answer-label-1291052' class=' answer'><span>Assess the organization's controls implemented that would help minimize risks<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-329967'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>The IAA frequently is involved in various project teams and task forces in an advisory capacity.<\/div><input type='hidden' name='question_id[]' id='qID_76' value='329967' \/><input type='hidden' id='answerType329967' 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-329967[]' id='answer-id-1291053' class='answer   answerof-329967 ' value='1291053'   \/><label for='answer-id-1291053' id='answer-label-1291053' class=' answer'><span>1 and 2<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329967[]' id='answer-id-1291054' class='answer   answerof-329967 ' value='1291054'   \/><label for='answer-id-1291054' id='answer-label-1291054' class=' answer'><span>1 and 3<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329967[]' id='answer-id-1291055' class='answer   answerof-329967 ' value='1291055'   \/><label for='answer-id-1291055' id='answer-label-1291055' class=' answer'><span>2 and 4<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-329967[]' id='answer-id-1291056' class='answer   answerof-329967 ' value='1291056'   \/><label for='answer-id-1291056' id='answer-label-1291056' class=' answer'><span>3 and 4<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-77'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons8540\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" 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