Certification IIA-CIA-Part2 Questions - IIA-CIA-Part2 Exam Sims

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IIA IIA-CIA-Part2 Exam Overview:

Certification Vendor:	IIA
Exam Name:	Certified Internal Auditor (CIA) Part 2 – Practice of Internal Auditing
Exam Number:	IIA-CIA-Part2
Exam Format:	Multiple-choice
Available Languages:	English, French, Japanese, Russian, German, Korean, Portuguese, Turkish, Chinese (Simplified), Spanish
Certificate Validity Period:	CIA certification requires ongoing CPE; no fixed expiry for exam results within 3-year program window
Exam Duration:	120 minutes
Related Certifications:	Certified Internal Auditor (CIA)
Passing Score:	600 (scaled score, range 250-750)
Exam Price:	USD 280 (IIA Member) / USD 415 (Non-Member) / USD 215 (Student)
Real Exam Qty:	100
Sample Questions:	IIA IIA-CIA-Part2 Sample Questions
Exam Way:	Computer-based testing at Pearson VUE testing centers worldwide; also available via online proctored delivery
Pre Condition:	Candidates must hold an active CIA program enrollment. A bachelor's degree (or equivalent) and relevant internal audit experience are required for full CIA certification. Part 1 must typically be completed before or concurrently with Part 2.
Official Syllabus URL:	https://www.theiia.org/globalassets/site/certifications/certified-internal-auditor/cia-part-2-syllabus.pdf

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IIA-CIA-Part2 Exam covers a wide range of topics related to internal auditing, including governance and risk management, fraud risks and controls, internal control and audit planning, information technology and communication, and business processes. IIA-CIA-Part2 Exam is designed to test the candidate's understanding of the principles and practices of internal auditing, as well as their ability to apply this knowledge in practical situations.

IIA Internal Audit Engagement Sample Questions (Q214-Q219):

NEW QUESTION # 214
The audit plan requires a review of the testing procedures used in pre-production of a large information system prior to its live launch. If the chief audit executive (CAE) is uncertain that the current audit team has all the required knowledge to conduct the engagement, which of the following would be the most appropriate course of action for the CAE to take to preserve independence?

A. Request audit resources through the external auditor.
B. Make use of an external service provider.
C. Contract with the software vendor to provide an appropriate resource.
D. Ask for a knowledgeable resource from the IT department.

Answer: B

Explanation:
When the chief audit executive (CAE) is uncertain whether the internal audit team has the necessary knowledge to conduct a specific engagement, such as reviewing testing procedures for a large information system, the most appropriate course of action is to engage an external service provider with the required expertise. This option helps to preserve the independence and objectivity of the internal audit activity.
* IIA Standard 1210 - Proficiency:
* This standard requires that internal auditors possess the knowledge, skills, and other competencies needed to perform their responsibilities. If the current team lacks the necessary skills, the CAE must seek external expertise.
* Preserving Independence:
* Engaging an external service provider helps maintain the independence of the internal audit function, as the expertise is sourced from an independent party. This prevents potential conflicts of interest that might arise if resources are borrowed from within the organization (e.g., from the IT department).
* IIA Practice Advisory 1210.A1-1:
* This advisory suggests that the CAE may employ external experts to provide specialized knowledge for certain audit engagements, ensuring the audit activity remains independent and objective.
* Option A (Contract with the software vendor): This could compromise independence, as the vendor may have a vested interest in the outcome of the audit.
* Option B (Ask for a knowledgeable resource from IT): Using internal resources, especially from the IT department being audited, could impair independence and objectivity.
* Option D (Request resources through the external auditor): This might be appropriate in some cases, but it is not as direct and effective as hiring an external provider with specialized skills for this specific engagement.
Detailed Explanation:Why Not Other Options?Conclusion: Option C is correct as it ensures the internal audit function maintains its independence while acquiring the necessary expertise to conduct the engagement effectively, in line with IIA standards.

NEW QUESTION # 215
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?

A. The availability of the auditors in relation to the availability of key client staff.
B. The amount of experience the auditors have conducting audits in the specific area of the organization.
C. Whether the budgeted hours are sufficient to complete the audit within the current scope.
D. Whether outside resources will be needed, and their availability.

Answer: C

NEW QUESTION # 216
Which of the following is a primary reason for an internal auditor to use a risk and control questionnaire when auditing financial processes?

A. To facilitate the quantification of financial data obtained
B. To gam an understanding of the control environment
C. To test the effectiveness of financial controls in an efficient and relatively inexpensive way
D. To collect as much financial data as possible before engagement fieldwork begins.

Answer: B

Explanation:
The primary reason for an internal auditor to use a risk and control questionnaire when auditing financial processes is to gain an understanding of the control environment. These questionnaires help auditors identify and evaluate the presence and effectiveness of controls within the financial processes. They provide a structured way to gather information about the control environment, helping auditors understand the organization's risk management and control practices before conducting detailed testing.
Reference:
IIA Standards: 2201 - Planning Considerations
IIA Practice Guide: Internal Auditing and Fraud

NEW QUESTION # 217
An engagement supervisor is explaining to a new internal auditor the need to use a workpaper checklist as part of reviewing her workpapers.
Which of the following statements demonstrates the reason for using checklists during the supervisory review?

A. The workpaper checklist provides auditors with information to determine if all of their work was sufficient enough to make it to the final engagement report.
B. The workpaper checklist provides auditors with assurance that work performed meets the requirements needed to accomplish the engagement objectives.
C. The workpaper checklist provides senior management with a tool for assessing the effectiveness of the auditor's work toward meeting the organization's strategic goals.
D. The workpaper checklist provides the board with information on determining if the chief audit executive met the quality standards to justify annual bonuses.

Answer: B

Explanation:
Option A is correct. Supervisory review exists to confirm that engagement work has been performed appropriately and that the resulting evidence is relevant, reliable, and sufficient to achieve the engagement objectives and support conclusions. A standardized workpaper checklist helps the supervisor verify that required documentation, testing, evidence, conclusions, approvals, and other engagement requirements have been addressed consistently. The Global Internal Audit Standards specifically recognize checklists and automated tools as mechanisms that may assist in overseeing conformance during engagements. Option B is vague and incorrectly frames the purpose as determining whether work is "sufficient enough" for inclusion in a final report. Options C and D incorrectly assign the checklist to the board or senior management. The checklist is fundamentally an internal supervisory and quality-control tool used to support proper execution and documentation of engagement work.

NEW QUESTION # 218
A multinational organization supplies computer chips for use in products manufactured in other countries.
The internal audit function is planning an engagement to assess the organization ' s navigation of the global market. The engagement team performs a risk assessment for the engagement.
Which situation indicates a significant risk that should be addressed during the engagement?

A. Regulations that provide more opportunities for market growth have been imposed by a national government where products are manufactured using the computer chips.
B. Clients have been storing excess inventory of computer chips with the intent of minimizing production delays of their products.
C. Internal changes that reflect a streamlined approval process have occurred within the organization ' s accounting department.
D. Tariffs that could result in higher prices for computer chips have been imposed by various national governments where products are manufactured using the computer chips.

Answer: D

Explanation:
Option D is correct. The engagement concerns the organization ' s ability to navigate the global market , so the risk assessment should prioritize external developments that could materially affect its business objectives.
New tariffs imposed by countries where customers manufacture products using the organization ' s chips can increase chip prices, reduce competitiveness, disrupt demand, and affect profitability. Option A describes customers ' inventory-management behavior that may actually mitigate production-delay risk. Option B represents an opportunity rather than a significant adverse risk. Option C concerns an internal accounting- process improvement and is not closely connected with the objective of assessing global-market exposure.
The Global Internal Audit Standards require engagement risk assessments to identify risks relevant to the activity ' s objectives, while the CIA syllabus emphasizes assessing strategic, external, operational, financial, and compliance risks in the engagement context.

NEW QUESTION # 219
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