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IIA IIA-CIA-Part2 Exam Syllabus Topics:

Section	Objectives
Engagement Execution	- Sampling methods and data analysis - Control testing and documentation - Audit evidence collection and evaluation
Managing the Internal Audit Function	- Quality assurance and improvement program (QAIP) - Internal audit role in governance, risk, and control - Audit plan development and resource management
Engagement Planning	- Audit program design - Risk assessment for audit engagements - Engagement objectives and scope definition
Communicating Results and Monitoring	- Audit report preparation and communication - Issue tracking and follow-up procedures

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IIA Internal Audit Engagement Sample Questions (Q165-Q170):

NEW QUESTION # 165
An internal auditor wants to ensure that the organization did not purchase goods or services from a vendor before an official purchase order was established.
Which of the following actions would help the auditor achieve this objective?

A. Analyze purchase requisitions that have no purchase orders.
B. Perform three-way matching based on purchase orders that have no invoices or goods receipts.
C. Analyze open purchase orders with no goods receipts.
D. Extract invoices for a certain period and compare their creation dates with purchase order dates.

Answer: D

Explanation:
Option D is correct because it directly tests the chronological relationship needed to identify purchases made before an authorized purchase order existed. By extracting invoices and comparing their dates with the corresponding purchase-order creation dates, the auditor can identify transactions in which the invoice or underlying purchase predates the official purchase order. Such exceptions can indicate retrospective or "after- the-fact" purchase orders and weaknesses in authorization controls. Option A focuses on purchase orders lacking invoices or receiving documentation. Option B identifies requisitions that did not progress to purchase orders but does not establish that a purchase actually occurred. Option C identifies open purchase orders without recorded receipts and therefore addresses fulfillment rather than preauthorization. The IIA Standards require auditors to select procedures that produce relevant, reliable, and sufficient evidence to accomplish engagement objectives; date comparison directly addresses the stated objective.

NEW QUESTION # 166
Which of the following describes the primary objective of an internal audit engagement supervisor?

A. Provide engagement progress updates to management of the area under review
B. Uphold the quality of the internal audit actively
C. Assure risks and controls are identified and assessed
D. Ensure timely completion of the engagement

Answer: C

NEW QUESTION # 167
The chief executive officer has requested that the chief audit executive (CAE) coordinate the establishment of an enterprise risk management (ERM) program for the organization. Which of the following would be the most appropriate action for the CAE?

A. Accept the request as the role of coordinating ERM is a core function of internal audit.
B. Accept the request after consulting with the board and adhering to proper safeguards.
C. Decline the request as this role compromises the CAE's objectivity.
D. Decline the request as internal audit has limited knowledge and experience of risk at the enterprise level to undertake the assignment.

Answer: B

NEW QUESTION # 168
Which of the following is the next step in understanding a business process once an internal auditor has identified the process?

A. Determine process goals.
B. Determine process inputs.
C. Determine process outputs.
D. Determine process activities.

Answer: A

Explanation:
Understanding a business process involves several steps, with determining the process goals being the next logical step after identifying the process. The goals provide context for why the process exists and what it aims to achieve.
IIA Standard 2201 - Planning Considerations:
This standard emphasizes the importance of understanding the objectives and goals of the area under review.
Identifying the goals of a business process is crucial for evaluating its effectiveness and alignment with organizational objectives.
Process Goals:
The process goals define the purpose and desired outcomes of the process. Without understanding these goals, an auditor cannot effectively assess whether the process is functioning as intended or if it needs improvement.
IIA Practice Advisory 2201-1:
This advisory suggests that auditors should first understand the objectives (goals) of the process before delving into the details of inputs, activities, and outputs. The goals provide a framework for evaluating the relevance and effectiveness of these elements.
Option A (Determine process outputs): Outputs are important, but they should be understood in the context of the goals they are intended to achieve.
Option B (Determine process inputs): Inputs are the resources used in the process, but their relevance depends on the process goals.
Option C (Determine process activities): Activities are the steps within the process, but they must be aligned with the goals to be meaningful.
Detailed Explanation:Why Not Other Options?Conclusion: Option D is correct because understanding the process goals is the next logical step after identifying the process, as it provides the context needed to evaluate all other aspects of the process.

NEW QUESTION # 169
Which of the following is a disadvantage of using flowcharts during a risk assessment?

A. Flowcharts do not enable auditors to identify missing controls
B. People cannot quickly understand the processes via flowcharts
C. Flowcharts are not applicable for evaluating the design of controls
D. Some serious risks that are not part of the linear process can be missed

Answer: D

NEW QUESTION # 170
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