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| Section | Weight | Objectives |
|---|---|---|
| Information Security | 25% | - Information Security Principles
|
| Information Technology | 20% | - IT Infrastructure and Applications
|
| Business Acumen | 35% | - Organizational Objectives, Behavior, and Performance
|
| Financial Management | 20% | - Financial Accounting and Reporting
|
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NEW QUESTION # 331
During the past few gears, Wilder Company has experienced the following average number of power outages:
Each power outage results in out-of-pocket costs of U $300. For U $1,000 per month, At US
$800 can lease generator to provide power during outages. If Wilder leases a generator in the coming year, the estimated savings or additional expense) for the year will be:
Answer: C
Explanation:
Each outage costs US $800, but this experience can be avoided by paying US $1,000 per month US $12,000 for the year). The expected-value approach uses the probability distribution derived from past experience to determine the average expected outages per month.
The company can expect to have, on average, 1.58334 outages per month. At US $800 per outage, the expected costs is US $1,266.67. Thus, paying US $1,000 to avoid an expense of US $1,266.67 saves US $266.67 per month, or US $3,200 per year.
NEW QUESTION # 332
An organization has recorded the following profit and expenses:
Profit before interest and tax
$200,000
Sales
$2,300,000
Purchases of materials
$700,000
Interest expenses
$30,000
If the value-added tax (VAT) rate is 20 percent and the corporate tax rate is 30 percent, which of the following is the amount of VAT that the organization has to pay?
Answer: A
NEW QUESTION # 333
An organization's technician was granted a role that enables him to prioritize projects throughout the organization. Which type of authority will the technician most likely be exercising?
Answer: C
Explanation:
In organizations, authority types define how power and influence are exercised. Since the technician is prioritizing projects, their authority comes from their specialized knowledge or expertise, making this an example of expert authority.
* Why Option D (Expert Authority) is Correct:
* Expert authority is based on specialized knowledge, skills, or expertise rather than formal position or hierarchical power.
* The technician is trusted to prioritize projects because of their technical knowledge and understanding of project impact.
* Expert authority is commonly seen in IT specialists, consultants, and industry professionals who guide decision-making based on expertise.
* Why Other Options Are Incorrect:
* Option A (Legitimate Authority):
* Incorrect because legitimate authority is derived from a formal position or title within an organizational hierarchy (e.g., CEO, manager).
* Option B (Coercive Authority):
* Incorrect because coercive authority relies on threats, punishment, or force, which is not applicable in this scenario.
* Option C (Referent Authority):
* Incorrect because referent authority is based on personal influence, charisma, or relationships, rather than expertise.
* IIA Practice Guide - "Auditing Organizational Governance": Discusses different types of authority in decision-making.
* COSO ERM Framework - "Risk Governance & Decision-Making": Recognizes expert authority as a key factor in risk-based project prioritization.
* IIA's GTAG - "Auditing IT Governance": Highlights the role of expert authority in IT project prioritization and governance.
IIA References:
NEW QUESTION # 334
An internal auditor is assigned to perform data analytics. Which of the following is the next step the auditor should undertake after she has ascertained the value expected from the review?
Answer: B
Explanation:
When performing data analytics, the process typically follows a structured approach. Once the internal auditor has determined the expected value from the review, the next logical step is to obtain the data. Without acquiring the necessary datasets, further actions such as normalization, risk identification, and analysis cannot be effectively carried out.
(A) Incorrect - Normalize the data.
Normalization is a preprocessing step that occurs after data has been obtained.
Before normalizing, the auditor must first access and collect relevant data sources.
(B) Correct - Obtain the data.
Data acquisition is a critical step in data analytics.
The auditor must gather relevant and reliable data from internal and external sources before proceeding with further steps such as cleansing, normalization, and analysis.
(C) Incorrect - Identify the risks.
Risk identification is an essential part of the audit process but typically comes after obtaining and reviewing data patterns.
Without data, identifying risks would be speculative rather than evidence-based.
(D) Incorrect - Analyze the data.
Data analysis comes after obtaining, cleaning, and structuring the data.
Jumping straight to analysis without ensuring data quality would lead to inaccurate conclusions.
IIA's GTAG (Global Technology Audit Guide) - Data Analytics
Recommends obtaining data as the initial step in data-driven audits.
IIA's Global Internal Audit Standards - Use of Data Analytics in Auditing Stresses the importance of data acquisition before proceeding with normalization and analysis.
COSO's ERM Framework - Data-Driven Decision Making
Highlights the importance of securing data for risk identification and mitigation.
Analysis of Answer Choices:IIA References and Internal Auditing Standards:
NEW QUESTION # 335
On a balanced scorecard, which is more of an internal process measure than an external based measure?
Answer: C
Explanation:
Cycle time is the manufacturing time to complete an order. Thus, cycle time is strictly related to internal processes. Profitability is a combination of internal and external considerations.
Customer satisfaction and market share are related to how customers perceive a product and how competitors react.
NEW QUESTION # 336
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