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

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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: 495 Q&A's Shared By: richie
Question 92

As part of internal audit's assistance with an annual external audit, the internal auditors are required to do a preliminary analytical review of an bank account balances. This involves verifying the current year end balances as web as comparing the current year end balances with previous year end balances to highlight significant changes. Which of the following is the most reliable source for verification of the current year end bank balances?

Options:

A.

Bank confirmations

B.

Internal bonk statements

C.

Bank reconciliations as of the end of the year

D.

Bank account general ledger balancer as of the end of the year

Discussion
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Question 93

The final internal audit report should be distributed to which of the following individuals?

Options:

A.

Audit client management only

B.

Executive management only

C.

Audit client management, executive management, and others approved by the chief audit executive.

D.

Audit client management, executive management, and any those who request a copy.

Discussion
Question 94

Which of the following statements is true regarding risk assessments, including the evaluation and prioritization of risk and control factors?

Options:

A.

A risk-by-process matrix enables the user to determine associations between any of the processes and the risks.

B.

The risk-factor approach for linking business processes and risks is more direct than the use of a risk-by-process matrix.

C.

Internal risk factors are built into the environment and the nature of the process itself.

D.

A risk map is used primarily to depict which risks will be reduced and which will be shared.

Discussion
Question 95

The final engagement communication contains the following observation:

The internal auditor discovered that three of the 10 contracts reviewed failed to meet the organization's competitive bidding requirements Management explained that senior management deemed these purchases to be critical and awarded them as sole-source."

Which of the following components is missing in the documentation of the observation?

Options:

A.

Criteria.

B.

Effect

C.

Condition

D.

Cause

Discussion
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