IIA IIA-CIA-Part2 Quiz 64 Topic 4 Questions 316-320

Question: 1

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?

AThe engagement objectives, access to clients records, and expectations.

BThe engagement objectives, scope, and time frame to complete the engagement.

CThe engagement scope, opportunities for making significant improvements, and client expectations.

DThe engagement objectives, scope, respective responsibilities, and other client expectations.

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Question: 2

In performance auditing, which of the following must first be determined by the internal auditor?

AWhich key performance indicators are in use.

BManagement's objectives for the process.

CWhether management controls are appropriate.

DDetermination that appropriate benchmarks are in place.

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Question: 3

According to IIA guidance, which of the following are potential benefits of using an assurance map?

AIndication of any gaps in assurance coverage, and improved relevance of assurance recommendations.

BIdentification of duplicate or overlapping assurance activities, and improved relevance of assurance recommendations.

CIndication of gaps in assurance coverage, and enhanced effectiveness of assurance providers.

DEnhanced effectiveness of assurance providers, and improved relevance of assurance recommendations.

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Question: 4

Which of the following events would most likely cause the chief audit executive to consider changing the current year's audit plan?

The government announced that new regulatory requirements will be introduced in the coming years which may significantly impact the organization's primary product.

A major competitor unexpectedly introduced a new model at a lower price point to compete with the organization's market leading product.

The organization announced a new joint venture with a long time corporate partner to introduce a new product with development costs and sales beginning next fiscal year.

An equal joint venture partner filed a lawsuit against the organization and requested that the court issue an immediate suspension of future product shipments.

A1 and 2 only

B1 and 3 only

C2 and 4 only

D3 and 4 only

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Question: 5

The chief audit executive (CAE) is adding a new audit position to the team. According to the International Professional Practices Framework, which of the following candidates would the CAE be least likely to accept for the position?

AThe candidate is applying for an IT audit position, while originally coming from an IT background, but has only experiences of financial and compliance audits in the previous position.

BThe candidate is knowledgeable about potential indicators of fraud including typical risks, but has only participated as a staff auditor in one investigative fraud audit.

CThe candidate meets the minimum educational requirements established by the chief audit executive, but has less formal education than any of the other candidates being considered.

DThe candidate provides examples of previous reports demonstrating excellent writing skills, but lacks ability to clearly communicate ideas and conclusions in a meeting.

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IIA IIA-CIA-Part2 Quiz:64 Topic:4 Questions:316-320