IIA IIA-CIA-Part1 Quiz 125 Topic 6 Questions 621-625

Question: 1

An organization's accounts payable function improved its internal controls significantly after it received an unsatisfactory audit report.

When planning a follow-up audit of the function, what level of detection risk should be expected if the audit and sampling procedures used are unchanged from the prior audit?

ADetection risk is lower because control risk is lower.

BDetection risk is lower because control risk is higher.

CDetection risk is higher because control risk is lower.

DDetection risk is unchanged although control risk is lower.

Show Answer

Question: 2

Which of the following risk assessment tools would best facilitate the matching of controls to risks?

AControl matrix.

BInternal control questionnaire.

CControl flowchart.

DProgram evaluation and review technique (PERT) analysis.

Show Answer

Question: 3

Which of the following is an example of sharing risk?

AAn organization redesigned a business process to change the risk pattern.

BAn organization outsourced a portion of its services to a third-party service provider.

CAn organization sold an unprofitable business unit to its competitor.

DIn order to spread total risk, an organization used multiple vendors for critical materials.

Show Answer

Question: 4

Which of the following components influences the risk consciousness of an organization's people and is the basis for all other components of enterprise risk management?

AObjective setting.

BInformation and Communication.

CRisk Assessment.

DInternal Environment.

Show Answer

Question: 5

Which of the following is an appropriate consideration by the auditor when preparing an engagement program for a human resource audit?

AState the work steps in the form of questions.

BUse standard audit program for HR from previous years.

CInclude in the audit program certain audit tests requested by audit client.

DDefer preparation of the audit program after the field work.

Show Answer

IIA IIA-CIA-Part1 Quiz:125 Topic:6 Questions:621-625