IIA IIA-CIA-Part1 Quiz 66 Topic 7 Questions 326-330

Question: 1

According to the COSO framework, which of the following is not a principle of internal control?

AManagement's philosophy and operating style.

BHuman resource policies and practices.

CIntegrity and ethical values.

DRisk assessment.

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Question: 2

According to IIA guidance, which of the following best describes how risks are measured?

ALikelihood and probability.

BImpact and relevance.

CVelocity and rate of occurrence.

DLikelihood and impact.

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Question: 3

An internal auditor is planning an operational audit of the accounts payable function. Which of the following best mitigates the risk of the organization being a victim of disbursement fraud by employees?

AAccounts payable payment records are checked against supplier invoices.

BAccounts payable are aged by vendors.

CThe accounts payable trial balance is reconciled to the general ledger.

DThe accounts payable function is properly segregated from the cash custody function.

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Question: 4

Which of the following is a limitation of using observation as a manual audit procedure?

AObservation provides information at a certain time and makes it difficult to draw representative conclusions.

BObservation is not as persuasive as inquiry due to a lack of direct evidence.

CObservation is performed specifically to test the validity of documented or recorded information.

DObservation may cause individuals to behave less critically or carefully if they are aware that other forms of manual audit procedures have already taken place.

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Question: 5

Which of the following should be the first step that an internal auditor takes to establish data integrity when building an audit working copy of a large database?

ASearch for anomalies in the extracted information.

BVerify that all required data was downloaded.

CReview the data for statistical patterns.

DEnsure that the data is efficiently organized within the database.

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IIA IIA-CIA-Part1 Quiz:66 Topic:7 Questions:326-330