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Success in the IIA IIA-CIA-Part2 certification exam gives a huge boost to your career in the sector. You polish and validate your capabilities with the IIA IIA-CIA-Part2. However, certification test demands a thorough knowledge of IIA IIA-CIA-Part2 Exam domains from credible preparation material, and this is the part where test takers lose hope.

The IIA IIA-CIA-Part2 exam covers a wide range of topics including risk management, governance, control, information technology, and business processes. Candidates are required to demonstrate their knowledge in these areas through a series of questions that are designed to test their understanding of the concepts and their ability to apply them in real-world scenarios. IIA-CIA-Part2 Exam is challenging, but it is also an opportunity for candidates to showcase their skills and knowledge in the field of internal auditing.

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IIA-CIA-Part2 exam consists of 100 multiple-choice questions that test candidates' knowledge and understanding of internal audit practices, including risk management, governance, and internal control. Candidates must pass IIA-CIA-Part2 exam to move on to the third and final part of the CIA exam. Passing IIA-CIA-Part2 Exam demonstrates to employers and clients that an individual has a strong understanding of the principles and practices of internal auditing, and is capable of providing valuable insights and recommendations to help organizations improve their operations and mitigate risk.

IIA Internal Audit Engagement Sample Questions (Q747-Q752):

NEW QUESTION # 747
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. To preserve objectivity, auditors who participated on the initial operational audit engagement team must not partake in the investigative audit.
B. The audit team that conducted the operational audit must also conduct the investigative audit.
C. The investigative audit must be conducted by an independent third-party service provider.
D. The investigative audit engagement team must include at least one auditor who possesses fraud-related skills and competencies.

Answer: D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
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 # 748
Direct staff as a percentage of total staff is an example of which of the following types of efficiency measures?

A. Productivity ratio.
B. Operating ratio.
C. Resource utilization rate.
D. Productivity index.

Answer: B

Explanation:
Section: Volume A

NEW QUESTION # 749
Given the scarcity of internal audit resources, a chief audit executive (CAE) decided not to schedule a follow-up of audit recommendations when developing engagement work schedules. Does the CAE's decision violate the Standards?

A. Yes, because the Standards require the auditors to determine whether the client has appropriately implemented all of the auditor's recommendations.
B. No, because when there is evidence of sufficient motivation by the client, there is no need for follow-up action.
C. Yes, because scarcity of resources is not a sufficient reason to omit follow-up action.
D. No, because the Standards do not specify whether follow-up is needed.

Answer: C

NEW QUESTION # 750
Which of the following statements regarding the use of external contracted services by the chief audit executive (CAE) is false?

A. The external expert could have a prior relationship with the audit client.
B. The CAE's responsibility is not impaired by engaging an external expert.
C. The expert should be directed by the objectives and scope of work.
D. The audit report should not disclose the use of contracted services.

Answer: D

NEW QUESTION # 751
Which of the following would be a red flag that indicates the possibility of inventory fraud?
I. The controller has assumed responsibility for approving all payments to certain vendors.
II. The controller has continuously delayed installation of a new accounts payable system, despite a corporate directive to implement it.
III. Sales commissions are not consistent with the organization's increased levels of sales.
IV. Payments to certain vendors are supported by copies of receiving memos, rather than originals.

A. I and II only
B. I, II, and IV only
C. I, III, and IV only
D. II and III only

Answer: B

NEW QUESTION # 752
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