IIA IIA-CIA-Part1 Quiz 21 Topic 2 Questions 101-105

Question: 1

An internal auditor who is carrying out an engagement to review controls related to corporate tax reporting must possess which of the following competencies?

1. Proficiency in analyzing key IT risks and controls.

2. The ability to recognize significant deviations from good business practices.

3. Knowledge of key indicators of fraud in tax reporting.

4. The ability to recognize the existence of problems related to tax accounting.

A1 and 4 only.

B3 and 4 only.

C2, 3, and 4 only.

D1,2, 3, and 4.

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Question: 2

What is the purpose of a secondary control?

AIt replaces primary controls that are either ineffective or cannot fully mitigate a risk.

BIt partially reduces the residual risk level when a key control does not operate effectively.

Clt combines with other controls to help reduce significant risk exposures to an acceptable level.

DIt helps to ensure the completeness and accuracy of automated controls in a system environment.

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Question: 3

According to the COSO internal control framework, which of the following best describes the use of continuous auditing programs by the internal audit activity?

AControl environment.

BControl activities.

CRisk assessment.

DMonitoring.

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Question: 4

What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?

ATo help the internal audit activity complete its annual assurance plan.

BTo identify inefficiencies within the internal audit team.

CTo help improve the overall quality of the internal audit activity's work.

DTo identify key risks and areas of concern within the organization.

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Question: 5

Which of the following is the most common way that occupational fraud is detected?

AInternal audits.

BWhistleblower hotline.

CKey controls.

DExternal audits.

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IIA IIA-CIA-Part1 Quiz:21 Topic:2 Questions:101-105