[2022] Pass IIA-CIA-Part2 Exam - Real Questions and Answers
IIA-CIA-Part2 Exam Questions Get Updated [2022] with Correct Answers
Learn about the Certification Worth of IIA CIA Part 2 Exam?
Completing the IIA CIA Part 2 certification is a step towards success. The certification distinguishes you from other competitors and increases your chances of getting high paying jobs.
The Certified Internal Auditor (IIA CIA Part 2) exam is a certification exam that provides an opportunity to individuals who want to pursue their careers in the field of internal auditing. This certification exam is offered by the Institute of Internal Auditors (IIA). The main objective of this certification is to provide professional recognition and knowledge to the individuals with the purpose of increasing their understanding of internal auditing. IIA CIA Part 2 exam dumps are designed to help individuals prepare for this certification exam.
The Certified Internal Auditor (IIA CIA Part 2) exam is divided into three parts. Each part covers different concepts and ideas related to internal auditing such as audit process, conduct, internal control, risk assessment, monitoring activities, and reporting processes.
Certification Topics of IIA CIA Part 2 Exam
IIA CIA Part 2 Exam is a key to success. The exam is written in such a way that it tests the candidates on various aspects of IT. Passing the IIA CIA Part 2 Exam will earn you a certification and help you advance your career.
The IIA CIA Part 2 Exam covers a wide range of concepts, including but not limited to:
Performing the engagement (40%)
Planning the engagement (20%)
Communicating engagement results and monitoring progress (20%)
Managing the internal audit activity (20%)
NEW QUESTION 196
Which of the following would be included in an internal audit department's quality assurance and improvement program?
1. Ongoing internal assessments of the performance of the internal audit department.
2. Periodic internal reviews through self-assessments.
3. Assessments conducted by a qualified external reviewer at least once every five years.
- A. 1 only
- B. 1, 2, and 3
- C. 2 and 3 only
- D. 1 and 2 only
Answer: B
Explanation:
Section: Volume D
NEW QUESTION 197
In an organization with a large internal audit activity that has several audit teams performing engagements simultaneously which of the following tasks is an engagement supervisor most likely to perform during the planning phase of a new engagement?
- A. Review the sample testing results for exceptions.
- B. Establish a means for resolving any professional judgment differences over ethical issues that may arise during the engagement.
- C. Evaluate whether the testing and results support the engagement results and conclusion
- D. Approve the engagement work program to ensure the program is designed to achieve the engagement objectives
Answer: D
NEW QUESTION 198
Which of the following would provide the best audit evidence regarding the effectiveness of an applied research department?
- A. Develop a report on revenue generated by or cost savings directly attributable to newly developed products.
- B. Compare the number of this year's new product developments to the number of new product developments for the past five years.
- C. Compare research as a percentage of revenue between this company and all major competitors in the same industry.
- D. Develop a cost-per-product analysis for products developed over the past five years.
Answer: A
Explanation:
Section: Volume A
NEW QUESTION 199
Which of the following computerized audit tools or techniques should be used if the internal auditor wants to extract specific files and records in the database?
- A. An expert or decision support system
- B. An integrated test facility
- C. A system utility program
- D. Generalized audit software
Answer: C
NEW QUESTION 200
Which of the following will be an appropriate course of action when an auditor disagrees with a client about a well-documented audit finding?
- A. Change the finding so that it is acceptable to the client.
- B. Address the issue with senior management and the board for resolution prior to issuing the final report.
- C. Defer reporting the item and plan to perform more detailed work during the next audit.
- D. Include both the audit finding and the client's position in the audit report.
Answer: D
NEW QUESTION 201
When interviewing an individual in relation to a fraud investigation, which course of action should the internal auditor follow?
- A. Establish a rapport with the subject to encourage openness.
- B. Discontinue questioning once the individual has confessed to the fraud.
- C. Assure the individual that the results of the interview will remain confidential.
- D. Refrain from deviating from the list of questions prepared before the interview.
Answer: A
NEW QUESTION 202
Which of the following would not include recommendations for process improvements?
- A. Internal audit engagement.
- B. Forensic investigation.
- C. Due diligence engagement.
- D. Consulting engagement.
Answer: C
NEW QUESTION 203
Five brand managers in a consumer products company met to determine how well certain promotions had performed. The data that they needed to analyze consisted of approximately 50 gigabytes of daily point-of-sale (POS) data for each month. The brand managers tried to download the POS data from the mainframe and import it into microcomputer spreadsheets for analysis. Their efforts were unsuccessful, most likely because of:
- A. Inconsistencies in the mainframe data due to lack of integrity constraints on the data files.
- B. Error-prone transmission links for downloading the data from the mainframe data files.
- C. The complexity of the mainframe data structure and the large volume of data.
- D. The difficulty of establishing access privileges for each subset of the mainframe data.
Answer: C
Explanation:
Section: Volume B
NEW QUESTION 204
An internal auditor is conducting tests to determine if an organization is in compliance with its payment approval policies. After reviewing a sample of vouchers selected, the internal auditor concluded that there were indicators of fraud. Which of the following would be the most appropriate method to expand the audit test to achieve the audit objective?
I. Validate the completeness of the accounts payable files.
II. Examine the sample of vouchers in greater detail.
III. Increase the number of vouchers in the sample.
IV. Broaden the scope of the examination to include credits received by accounts payable.
- A. I and II only
- B. II and III only
- C. I, II, and IV only
- D. I, III, and IV only
Answer: B
NEW QUESTION 205
An internal auditor was reviewing the procurement department's tender documentation for completeness He documented all discrepancies but the procurement manager disagreed with his findings Upon further review, the internal auditor noted that all discrepancies had been corrected in the tender database. Which of the following courses of action would have prevented this situation?
- A. The internal auditor should have created a more thorough work program, which would address audit criteria and potential causes in more detail
- B. The auditor should have instructed procurement workers that changes to the database during the course of the audit were strictly forbidden
- C. The auditor should have ensured the preservation of audit evidence by taking screenshots or extracting tender documents
- D. The auditor should have extracted a list of logs and identified any actions that were executed in the database during the audit
Answer: C
NEW QUESTION 206
Which of the following statements is false regarding roles and responsibilities pertaining to risk management and control?
- A. The chief audit executive is responsible for overseeing the evaluation risk management and control processes.
- B. Operating managers are responsible for assessing risks and controls in their departments.
- C. Senior management is charged with overseeing the establishment risk management and control processes.
Answer: A
NEW QUESTION 207
Which of the following items should be addressed in an organization's privacy statement?
I.Intended use of collected information.
II.
Data storage and security.
III.
Network/infrastructure authentication controls.
IV.
Data retention policy of the organization.
- A. II, III, IV, and V only.
Parties authorized to access information. - B. I and II only.
- C. I and IV only.
- D. I, II, and V only.
Answer: D
NEW QUESTION 208
According to the Standards, which of the following best describes what must be agreed upon to establish an understanding with clients prior to starting a consulting engagement?
- A. The engagement scope, opportunities for making significant improvements, and client expectations.
- B. The engagement objectives, scope, respective responsibilities, and other client expectations.
- C. The engagement objectives, access to clients records, and expectations.
- D. The engagement objectives, scope, and time frame to complete the engagement.
Answer: B
NEW QUESTION 209
Which of the following must an auditor establish in order to demonstrate that fraud has occurred?
- A. Existence of an internal control deficiency.
- B. Evidence of collusion.
- C. Monetary damage to the victim.
- D. The suspect's intent.
Answer: D
NEW QUESTION 210
The following audit observation was included in the final audit report:
"Our review concluded that bank reconciliation statements for March and April did not show evidence of supervisory review. We recommend strict compliance with the controller's manual, which requires the department head to place their initials on the reconciliation statements to document their review."
Which of the following attributes are missing from the above audit observation?
----
Criteria. Condition. Cause. Effect.
- A. 1, 3, and 4 only.
- B. 1 and 4 only.
- C. 3 and 4 only.
- D. 2 and 3 only.
Answer: C
NEW QUESTION 211
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