Updated IIA-CIA-Part2 Detailed Answers by Lead2PassExam

What's more, part of that Lead2PassExam IIA-CIA-Part2 dumps now are free: https://drive.google.com/open?id=1TbwbLdwbJ-oGU9OAkseJrtGobxPJe1as

It is not easy to absorb the knowledge we learn, so, we often forget these information. When you choose our IIA IIA-CIA-Part2 Practice Test, you will know that it is your necessity and you have to purchase it. You can easily pass the exam. To trust in Lead2PassExam, it will help you to open a new prospect.

IIA IIA-CIA-Part2 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Information Gathering, Analysis and Evaluation	40%	- Use technology and audit tools effectively - Gather and verify relevant information and evidence - Assess compliance with policies, standards, and requirements - Evaluate controls, risks, and process effectiveness - Apply analytical procedures and data analysis techniques
Topic 2: Engagement Supervision and Communication	10%	- Monitor and follow up on engagement outcomes - Develop and communicate engagement observations and conclusions - Coordinate with stakeholders and resolve issues - Formulate recommendations and action plans - Supervise engagement activities and review workpapers
Topic 3: Engagement Planning	50%	- Consider fraud risks and applicable laws/regulations - Establish engagement criteria and resource requirements - Determine engagement objectives and scope - Identify and assess risks relevant to the engagement - Develop engagement work program

>> IIA-CIA-Part2 Detailed Answers <<

Latest IIA-CIA-Part2 Demo - Training IIA-CIA-Part2 Materials

Now you can pass Internal Audit Engagement exam without going through any hassle. You can only focus on IIA-CIA-Part2 exam dumps provided by the Lead2PassExam, and you will be able to pass the Internal Audit Engagement test in the first attempt. We provide high quality and easy to understand IIA-CIA-Part2 pdf dumps with verified IIA IIA-CIA-Part2 for all the professionals who are looking to pass the IIA-CIA-Part2 exam in the first attempt. The IIA-CIA-Part2 training material package includes latest IIA-CIA-Part2 PDF questions and practice test software that will help you to pass the IIA-CIA-Part2 exam.

IIA Internal Audit Engagement Sample Questions (Q68-Q73):

NEW QUESTION # 68
Which of the following actions are appropriate for the chief audit executive to perform when identifying audit resource requirements?
1. Consider employees from other operational areas as audit resources, to provide additional audit coverage in the organization.
2. Approach an external service provider to conduct internal audits on certain areas of the organization, due to a lack of skills in the organization.
3. Suggest to the audit committee that an audit of technology be deferred until staff can be trained, due to limited IT audit skills among the audit staff.
4. Communicate to senior management a summary report on the status and adequacy of audit resources.

A. 2, 3, and 4
B. 2 and 4 only
C. 1, 2, and 4
D. 1 and 3 only

Answer: B

Explanation:
When identifying audit resource requirements, the chief audit executive (CAE) should consider approaching an external service provider to conduct internal audits in areas where the organization lacks the necessary skills (2). This ensures that audits are conducted by individuals with the appropriate expertise. Additionally, communicating to senior management a summary report on the status and adequacy of audit resources (4) keeps them informed about the internal audit activity's capacity and any resource constraints. Considering employees from other operational areas as audit resources (1) could compromise objectivity and independence, while suggesting deferral of audits (3) is generally not advisable as it might leave significant risks unaddressed. Reference: IIA Standard 2030 - Resource Management, IIA Practice Advisory 2030-1

NEW QUESTION # 69
Which of the following is the most appropriate reason for a chief audit executive to conduct an external assessment more frequently than five years?

A. Significant changes in the organization ' s accounting policies or procedures would warrant timely analysis and feedback.
B. A change in senior management or internal audit leadership may change expectations and commitment to conformance
C. The parent organization ' s internal audit activity agreed to perform biennial reciprocal external assessments to provide greater assurance at a reduced cost.
D. More frequent external assessments can serve as an equivalent substitute for internal assessments.

Answer: B

Explanation:
Introduction:
The frequency of external assessments for the internal audit activity (IAA) is typically every five years.
However, certain circumstances may necessitate more frequent assessments.
Reasons for More Frequent Assessments:
Significant organizational changes or shifts in internal audit leadership can impact the effectiveness and alignment of the internal audit function with organizational goals.
Options Analysis:
Option A: While changes in accounting policies might warrant review, they do not specifically necessitate a more frequent external assessment.
Option B: More frequent external assessments cannot substitute for ongoing internal assessments, which are continuous and serve different purposes.
Option C: Reciprocal external assessments can be cost-effective but are not a primary reason for increased frequency.
Option D: Changes in senior management or internal audit leadership can lead to shifts in expectations and commitment to compliance, thus justifying more frequent external assessments to ensure continued alignment and conformance with standards.
Conclusion:
The most appropriate reason for a chief audit executive (CAE) to conduct an external assessment more frequently than five years is when there is a change in senior management or internal audit leadership, as this may alter expectations and commitment to conformance.
Internal Audit Standards and Practice Guides .

NEW QUESTION # 70
Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?

A. A review of password policy compliance found that employees frequently use the same password more than once during a year. The IAA recommends that the access control software reject any password used more than once during a 12-month period.
B. A vacation policy compliance review found that employees frequently leave on vacation before their leave applications are signed by their manager. The IAA recommends that the manager attend to the leave applications in a more timely fashion.
C. A review of internal service-level agreement compliance in financial services found that requests for information frequently are fulfilled up to two weeks late. The IAA recommends that the financial services unit be eliminated for its ineffectiveness.
D. A review of customer service-level agreements found that orders to several customers are frequently delivered late. The IAA recommends that the organization extend the expected delivery time advertised on its website.

Answer: A

Explanation:
Strengthening password policies and ensuring unique passwords are used within a specified period are key measures in preventing unauthorized access and reducing the risk of fraud. Password management is a critical aspect of IT security and can significantly mitigate the risk of cyber fraud. The other recommendations (Options B, C, and D) address operational issues but do not directly impact fraud prevention as effectively as enhancing password security does.
IIA Standard 2110: Governance.
IIA Practice Guide on IT Controls and Cybersecurity.

NEW QUESTION # 71
Which of the following actions best describes an internal auditor's use of test data to determine whether an organization's new accounts payable system avoids processing questionable invoices for payment?

A. Creating an automated tool that monitors the computer program on a daily basis for potential issues that need corrective actions.
B. Embedding tools in the computer program to analyze the review processes of invoices for potential issues that may hamper payments
C. Adding invoices to the computer program to assess the reliability and effectiveness of the review process and whether controls work.
D. Using an automated system that assists internal auditors with automating the risk analysis of the computer program for invoicing

Answer: C

Explanation:
Adding invoices to the computer program to assess the reliability and effectiveness of the review process and whether controls work best describes an internal auditor's use of test data. This approach involves introducing test data into the system to evaluate how well the system processes invoices and whether it effectively identifies and prevents questionable invoices from being processed for payment.
:
IIA Standards: 1220.A2 - Proficiency and Due Professional Care
IIA Practice Guide: Use of Technology in Auditin

NEW QUESTION # 72
An internal auditor is conducting a preliminary survey of the investments area, and sends an internal control questionnaire to the management of the function. (An extract of the survey is provided below).

1. Are there any restrictions for any company's investments?
2. Are there any written policies and procedures that document the flow of investment processing?
3. Are investment purchases recorded in the general ledger on the date traded?
4. Is the documentation easily accessible to an persons who need in to perform their job?
Which of the following is a drawback of testing methods like this?

A. They do not highlight control gaps
B. They are limited as there is a risk that management may not answer fairly.
C. They are not useful for identifying areas on which the auditor should locus.
D. They ore kitted as they do not allow the auditor to test many controls.

Answer: B

NEW QUESTION # 73
......

I would like to bring to you kind attention that our latest IIA IIA-CIA-Part2 study guide is produced. These exam materials are high passing rate. We are sure that IIA-CIA-Part2 study guide will be the best assist for your coming exam. We guarantee "No Pass Full Refund". If you feel depressed about your past failure and eager to look for Valid IIA-CIA-Part2 Study Guide, I advise you to reply to our exam materials as 100% passing without any doubt. Thousands of candidates' choice for our IIA-CIA-Part2 study guide will be your wise decision.

Latest IIA-CIA-Part2 Demo: https://www.lead2passexam.com/IIA/valid-IIA-CIA-Part2-exam-dumps.html

What's more, part of that Lead2PassExam IIA-CIA-Part2 dumps now are free: https://drive.google.com/open?id=1TbwbLdwbJ-oGU9OAkseJrtGobxPJe1as