IIA IIA-CIA-Part2 Quiz 61 Topic 9 Questions 301-305

Question: 1

According to the International Professional Practices Framework, which of the following is not an objective of the exit conference?

AReceive client feedback and clarification.

BReview audit recommendations.

CPlan future engagements.

DResolve disagreements.

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Question: 2

Which of the following risks assumes an absence of compensating controls in the area being reviewed?

AControl risk.

BDetection risk.

CInherent risk.

DSampling risk.

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Question: 3

According to the Standards, which of the following objectives is not required to ensure the appropriate completion of an engagement?

ADetermining audit team members are coordinated to ensure the efficient execution of all engagement procedures.

BConfirming engagement working papers properly support the observations, recommendations and conclusions.

CProviding structured learning opportunities for engagement auditors when and wherever possible.

DEnsuring all engagement objectives are reviewed for satisfactory achievement and properly documented.
Topic 4, Volume D

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Question: 4

The chief audit executive (CAE) of a multinational entity with highly automated and complex operations has just completed the update of the risk-based audit plan. Interviews with management revealed the introduction of new technology and a significant increase in both the number and severity of technology-based risk exposures. According to the International Professional Practices Framework, which of the following would be the best course of action for the CAE to undertake next?

ADevelop a detailed audit plan that makes the most efficient use and reallocation of existing internal audit resources.

BArrange for the outsourcing of some technology intensive audit processes and procedures based on the plan changes.

CEvaluate whether appropriate skills and knowledge required to perform the necessary audit work currently exist in the department.

DBegin planning to recruit information technology audit specialists and other expert personnel into the internal audit activity.

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Question: 5

An auditor-in-charge is preparing her audit team for a consulting engagement at one of the organization's foreign subsidiaries. According to the Standards, which of the following would not be a necessary step prior to beginning the engagement?

AVerify that none of the audit team worked for the foreign subsidiary within the last year to ensure independence.

BAgree, in writing, with the subsidiary's senior management regarding the scope of the engagement.

CCommunicate a time frame as well as a contingency plan in the event the engagement may take longer than expected.

DCommunicate what logistical support will be provided by the subsidiary for the duration of the engagement.

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IIA IIA-CIA-Part2 Quiz:61 Topic:9 Questions:301-305