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IIA Updated IIA-CIA-Part2 Exam Questions and Answers by kristian

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IIA IIA-CIA-Part2 Exam Overview :

Exam Name: Practice of Internal Auditing
Exam Code: IIA-CIA-Part2 Dumps
Vendor: IIA Certification: CIA
Questions: 601 Q&A's Shared By: kristian
Question 60

Which of The following best describes a risk that is deemed "unacceptable" to the organization?

Options:

A.

A risk where likelihood and impact are high

B.

A risk where inherent risk exceeds its residual risk

C.

A risk where inherent risk exceeds the tolerance level

D.

A risk where residual risk exceeds the tolerance level

Discussion
Question 61

Senior management requested that the internal audit activity perform a consulting project to assist in making a decision on a new software system. Which of the following would be used to determine the engagement objectives?

Options:

A.

An assessment of risks to the business objectives

B.

An understanding of the engagement client's expectations

C.

The probability of significant errors fraud or noncompliance

D.

Criteria previously established by the board

Discussion
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Question 62

Which of the following best describes external benchmarking using trend analysis for a subsidiary of an international company?

Options:

A.

Comparing the current ratio of the subsidiary with the current ratio of another company for the same period

B.

Comparing common-size financial statements of the subsidiary with the averages of the industry for the last two periods

C.

Comparing the sales of the subsidiary with the sales of another subsidiary for the last two periods.

D.

Comparing the sales of the subsidiary with the budgeted figures for the last two periods

Discussion
Question 63

For which of the following fraud engagement activities would it be most appropriate to involve a forensic auditor?

Options:

A.

Independently evaluating conflicts of interests.

B.

Assessing contracts for relevant terms and conditions.

C.

Performing statistical analysis for data anomalies.

D.

Preparing evidentiary documentation.

Discussion
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