IIA IIA-CIA-Part2 Quiz 133 Topic 7 Questions 661-665

Question: 1

The primary objective of maintaining security overworking papers is to

AProhibit unauthorized changes or removal of information.

BProhibit engagement clients from seeing working papers.

CFacilitate subsequent engagements in the same department.

DFacilitate engagements by external auditors.

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Question: 2

A fire destroyed a large portion of an organization's inventory. Management is filing an insurance claim and needs to use the internal auditors' working papers in preparing the claim. Management

AMay not use the working papers in preparing the claim.

BMay use the working papers in preparing the claim, but such use should be approved by the chief audit executive.

CShould be precluded from preparing the claim, and this function should be performed by the internal audit activity.

DMay use the working papers in preparing the claim, but such use should be approved by the organization's external auditors.

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Question: 3

Use of electronic working papers

ADoes not comply with the Standards for supervisory review.

BDoes not comply with the Standards for documentation criteria.

CDoes not comply with the Standards for retention requirements.

DRaises unique issues, but their use is permitted under the Standards.

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Question: 4

The internal auditor is most likely to make working papers available to the engagement client when

AFraud is suspected.

BThe internal auditors have recorded specific damaging comments.

CThe internal auditor considers the content noncontroversial.

DEngagement client comments are needed to evaluate significance and accuracy.

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Question: 5

Working papers should be disposed of when they are of no further use. Retention policies should

ASpecify a minimum retention period of 3 years.

BBe prepared by the audit committee.

CBe approved by legal counsel.

DBe approved by the external auditor.

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IIA IIA-CIA-Part2 Quiz:133 Topic:7 Questions:661-665