IIA IIA-CIA-Part1 Quiz 64 Topic 3 Questions 316-320

Question: 1

An internal auditor is gathering evidence for an organization's internal audit engagement and requests a sample of vendor invoices from the organization. Which of the following is true regarding the reliability of this evidence?

AThe invoices have zero reliability.

BThe invoices have low reliability.

CThe invoices have medium reliability.

DThe invoices have high reliability.

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Question: 2

Management has decided to invest significant capital in a new and innovative large computer system. They understand that they are one of the first organizations to implement this system, but they believe the benefits outweigh the uncertainty over the performance and reliability of the software. This decision best describes which aspect of risk management?

ARisk appetite.

BRisk tolerance.

CResidual risk.

DInherent risk.

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Question: 3

An internal auditor is testing the controls of a large and complex food production process where quality assurance is critical. Management provides process charts and documentation, but the auditor quickly determines that this information is incomplete and out of date. Which of the following would be the most appropriate course of action for the auditor to follow?

AUse the documentation but meet with the production supervisor to obtain updated information before proceeding.

BAmend the engagement objectives recognizing that important information is not available to protect the engagement's integrity.

CDefer the audit until management can provide updated charts and documentation as this is their responsibility.

DUse the documentation but use observation during the engagement to provide missing information.

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Question: 4

COBIT is primarily designed to:

ADefine auditing standards for information technology auditors.

BSatisfy information technology regulatory requirements.

CProvide guidance to govern information technology activities.

DAssist technology professionals in interpreting technological specifications.

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Question: 5

Which of the following is the responsibility of an internal auditor?

1. Assist operating management in implementing audit recommendations.

2. Provide management with value-added analysis to improve operations.

3. Become an advocate for changes to the internal audit activity charter.

4. Disclose non-financial risks that may be identified during the course of an engagement.

A1 and 3 only

B2 and 4 only

C1, 2, and 4 only

D1, 2, 3, and 4

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IIA IIA-CIA-Part1 Quiz:64 Topic:3 Questions:316-320