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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 Price:	USD 280 (IIA Member) / USD 415 (Non-Member) / USD 215 (Student)
Related Certifications:	Certified Internal Auditor (CIA)
Certificate Validity Period:	CIA certification requires ongoing CPE; no fixed expiry for exam results within 3-year program window
Exam Duration:	120 minutes
Available Languages:	Korean, Chinese (Simplified), Turkish, French, German, Russian, Spanish, English, Portuguese, Japanese
Exam Format:	Multiple-choice
Real Exam Qty:	100
Passing Score:	600 (scaled score, range 250-750)
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 contains 100 multiple-choice questions and has a time limit of two and a half hours. IIA-CIA-Part2 Exam covers four domains: Managing the Internal Audit Function, Planning the Engagement, Performing the Engagement, and Communicating Engagement Results and Monitoring Progress. Candidates must score a minimum of 600 points out of a possible 750 to pass the exam.

IIA Internal Audit Engagement Sample Questions (Q502-Q507):

NEW QUESTION # 502
Which of the following statements is true regarding the chief audit executive's (CAT$) responsibilities after completing an assurance or consulting engagement?

A. The CAE may delegate the responsibility for communicating the results of consulting engagements although this responsibility cannot be delegated for assurance engagements
B. The CAE must establish a follow-up process tor both assurance and consulting engagements to monitor that management actions have been effectively implemented to address observations
C. The CAE must acknowledge satisfactory performance when communicating the results of assurance and consulting engagements
D. The CAE must communicate the results of assurance and consulting engagements lo whoever can ensure that the results are given due consideration.

Answer: D

NEW QUESTION # 503
The engagement supervisor would like lo change the audit program's scope poor to beginning fieldwork According to IIA guidance before any change is implemented what is the most important action that should be undertaken?

A. Seek approval from the chief audit executive for the proposed scope change
B. Document in the engagement workpapers the rationale for changing the scope.
C. Confirm that the internal audit activity continues to have the necessary knowledge and skills
D. Confirm that the scope change would align to the organization's objectives and goals

Answer: A

Explanation:
According to IIA guidance, before implementing any changes to the audit program's scope prior to beginning fieldwork, the most important action is to seek approval from the chief audit executive (CAE) for the proposed scope change. This ensures that any significant modifications are reviewed and authorized at the appropriate level, maintaining the integrity and alignment of the audit activity with the organization's audit plan and objectives.
Reference:
IIA Standards: 2240 - Engagement Work Program
IIA Standards: 2020 - Communication and Approval

NEW QUESTION # 504
Due to emerging new technologies that greatly affect the organization, the chief audit executive (CAE) wants to conduct frequent IT audit and is particularly focused on improving the quality of these engagements. Which of the following is the most viable solution for the CAE to ensure that IT audit quality is immediately enhanced and maintained long-term?

A. Contract an external IT special to offer advice and consult on IT audits
B. Each year send a different member of the internal audit staff to an IT audit conference to learn about emerging technologies
C. Employ an independent external IT specialist to perform IT audits for the first year
D. Invite qualified staff from the IT department to serve as guest auditors and lead IT audits

Answer: D

Explanation:
To immediately enhance and maintain long-term IT audit quality, inviting qualified staff from the IT department to serve as guest auditors is a viable solution. This approach provides immediate access to IT expertise, ensuring high-quality audits. Additionally, it fosters collaboration between the IT and internal audit departments, promotes knowledge transfer, and helps build internal audit staff capabilities over time. This method is both cost-effective and sustainable, compared to contracting external specialists continuously.
References:
* The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing, Standard 1210 - Proficiency and Standard 2230 - Engagement Resource Allocation

NEW QUESTION # 505
During an operational audit of the cash receipts process, internal auditors uncovered many red flags related to possible misappropriation of cash and other cash-flow problems indicative of potential employee fraud.
Which of the following statements is true regarding the follow-up investigative audit?

A. The investigative audit must be conducted by an independent third-party service provider.
B. The audit team that conducted the operational audit must also conduct the investigative audit.
C. To preserve objectivity, auditors who participated on the initial operational audit engagement team must not partake in the investigative audit.
D. The investigative audit engagement team must include at least one auditor who possesses fraud-related skills and competencies.

Answer: D

Explanation:
According to IIA guidance on fraud investigations, investigative audits require specialized skills such as interviewing, forensic analysis, and fraud detection. The most important requirement is that at least one team member possesses these competencies. Objectivity (C) does not require exclusion of the original team unless bias exists. Neither A nor B is mandated by standards. The correct answer is Option D.

NEW QUESTION # 506
An organization owns vehicles that are kept off-site by employees to pick up and deliver orders. An internal auditor selects a specific vehicle from the fixed asset register for testing. Which of the following would best provide sufficient, indirect evidence for the auditor to confirm the existence of the vehicle?

A. Visit the home address of the specific employee to see the selected vehicle.
B. Compare the registered details of the vehicle in the fixed asset register to a date-stamped photograph of the vehicle.
C. Seek independent confirmation of the vehicle's details from one of the delivery employees.
D. Review logs of the vehicles assigned to employees for the delivery of goods during the engagement period.

Answer: B

Explanation:
To confirm the existence of a specific vehicle selected from the fixed asset register, the best indirect evidence would be to compare the registered details of the vehicle with a date-stamped photograph. This method provides a verifiable form of evidence that the vehicle exists and matches the details recorded in the asset register. It ensures that the vehicle is still in possession of the organization and can be indirectly verified without the need for physical presence at an off-site location.
:
IIA Practice Guide: "Auditing Fixed Assets"
COSO Internal Control - Integrated Framework

NEW QUESTION # 507
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