Iia actualtests iia Iia-cia-part1 Questions Answers by Helen q45 vce pdf

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Exam Name:	Essentials of Internal Auditing
Exam Code:	IIA-CIA-Part1 Dumps
Vendor:	IIA	Certification:	CIA
Questions:	735 Q&A's	Shared By:	helen

Question 124

Which of the following statements is true regarding control activities?

Options:

Control activities are carried out by first-line and second-line functions to mitigate risks.

Control activities are implemented by internal auditors to mitigate risks to an acceptable level.

Control activities provide the foundation for the organization to establish its risk appetite.

Control activities are a precondition to setting risk tolerance levels.

Discussion

Question 125

The internal audit activity is responsible for conducting fraud investigations. A potential fraud instance was identified during an audit engagement. The chief audit executive appoints a lead investigate. Which of the following would most likely be the next step?

Options:

Ask internal auditors to gather all relevant information evidence

Identify and interview witnesses first potential suspects later.

Conduct a fraud risk assessment to the most vulnerable areas.

Determine me competencies needed and assess whatever team members have a conflict of interest.

Discussion

Question 126

Which of the following scenarios demonstrates nonconformance with the Standards?

Options:

An internal auditor failed to expand the engagement and include managements preferences when determining the scope of an upcoming assurance engagement.

An internal audit activity lacks the skills need to perform a high-risk security engagement included on the annual audit plan.

A chief audit executive fated to perform a risk assessment prior to preparing the audit plan

An internal audit activity has existed for two years and has not undergone external quality assessment

Discussion

Question 127

The accounting department asked the chief audit executive (CAE) to perform a review of suspicious transactions The CAE was an accounting manager for the organization six months ago How should she respond to the request?

Options:

Decline, if it is consulting engagement because she recently worked in the organization s accounting department

Accept, 11 is an assurance engagement, as she has been out of the department long enough to not impair objectivity.

Inform the accounting department mat me engagement can take place m the future once she has been removed from accounting for a longer period of time.

Accept, it is a consulting engagement with agreed-upon scope and services to be provided by me internal audit activity.

Discussion

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