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IIA CIA Part 2 Exam Reference

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IIA-CIA-Part2 exam is recognized by the Institute of Internal Auditors (IIA), which is the leading international professional association for internal auditors. The IIA-CIA-Part2 exam is a key component of the Certified Internal Auditor (CIA) certification program. Passing IIA-CIA-Part2 Exam is necessary for individuals who want to demonstrate their proficiency in internal auditing and advance their careers in this field.

IIA Internal Audit Engagement Sample Questions (Q737-Q742):

NEW QUESTION # 737
During an audit of an ethics program, which of the following procedures are most appropriate to evaluate the effectiveness of the program?
* Testing whether corrective actions taken on involved parties breaching the ethics program are adequate.
* Testing whether all employees are mandated through policy to comply with the ethics program.
* Testing whether all employees are required to confirm in writing their compliance with the ethics program.
* Testing through surveys employee's level of understanding and commitment to the ethics program.

Answer: C


NEW QUESTION # 738
An internal audit manager assigns an audit team to test purchase transactions by selecting a sample from transactions processed by each of the three procurement officers.
Which of the following techniques will help the audit team achieve this sampling objective?

Answer: C

Explanation:
Stratified sampling is a technique that involves dividing a population into subgroups (strata) that share similar characteristics and then taking a sample from each subgroup. In the context of testing purchase transactions by different procurement officers, the transactions can be stratified based on the officers, ensuring that the audit team selects a sample that represents each officer's transactions. This method helps in achieving a more accurate and reliable assessment of the procurement process across all officers.
The Institute of Internal Auditors (IIA), Practice Guide on Sampling
"Auditing and Assurance Services: An Integrated Approach" by Alvin A. Arens, Randal J. Elder, Mark S.
Beasley


NEW QUESTION # 739
In which of following scenarios is the internal auditor performing benchmarking?

Answer: D


NEW QUESTION # 740
While performing an audit of the human resources department, an internal auditor discovered unencrypted files containing the personal information of employees stored on a public shared drive. According to IIA guidance, which of the following actions by the auditor would be the most appropriate?

Answer: C


NEW QUESTION # 741
Which of the following internal audit activities is performed in the design evaluation phase?

Answer: C

Explanation:
To determine which internal audit activity is performed in the design evaluation phase, it's essential to understand what each phase in the audit process entails. The design evaluation phase involves assessing whether the design of controls is adequate to mitigate risks to acceptable levels.
* Option A: The internal auditor reviews prior audits and workpapers.
* This activity typically occurs during the planning phase of an audit. Reviewing prior audits and workpapers helps the auditor understand the scope, findings, and context of previous audits, providing valuable information for planning the current audit.
* Option B: The internal auditor identifies the controls over segregation of duties.
* Identifying controls, particularly those related to segregation of duties, is a key part of the design evaluation phase. In this phase, the auditor assesses whether the control design, including segregation of duties, is sufficient to prevent or detect errors and fraud.
* Option C: The internal auditor checks a process for completeness.
* Checking a process for completeness is more aligned with the testing phase, where the auditor evaluates the operational effectiveness of controls. During this phase, the auditor ensures that all parts of a process are functioning as intended.
* Option D: The internal auditor communicates the audit results to management.
* Communicating audit results occurs in the reporting phase, after the audit fieldwork is complete.
In this phase, the auditor summarizes findings, conclusions, and recommendations and presents them to management.
Reference:
According to the Institute of Internal Auditors (IIA) Standards and the guidelines in the IPPF (International Professional Practices Framework), during the design evaluation phase, internal auditors assess the adequacy of control designs. This includes evaluating whether controls like segregation of duties are properly designed to mitigate identified risks. Identifying controls over segregation of duties is a fundamental aspect of assessing the adequacy of the control environment and its design to ensure it can effectively prevent and detect errors and fraud.


NEW QUESTION # 742
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