IIA-CIA-Part1 Exam Dumps - Instant Download IIA-CIA-Part1 Exam Questiosn

1. IIA Certified Internal Auditor IIA-CIA-Part1 Exam Question & Answer PDF (FREE --- DEMO VERSION) Get Full Version of IIA-CIA-Part1 Exam Question Answer PDF Here: https://itexamquestions.com/product/iia-cia-part1-exam-questions/ Thank You For Reviewing IIA-CIA-Part1 Exam PDF Demo

2. Question: 1 The top three sales representaties for a company consistently include non-allowable charges on their expense reports. Line management is reluctant to deny reimbursement of the charges for fear of losing the sales representaties. This situaton has the greatest negatie impact on which of the following internal control components? A. Monitoring. B. Control eniironment. C. Informaton and communicaton. D. Control actiites. Answer: B Question: 2 Which of the following factors afects the control risk of a company? A. Potental problems like technological obsolescence. B. Unusual pressures on management. C. Complex accounts that require expert ialuatons. D. Segregaton of dutes. Answer: D Question: 3 Human resources and payroll are separate departments. Which of the following combinatons would proiide the best segregaton of dutes? A. Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliier paychecks to employees. B. Human resources personnel add employees, reiiew and submit payroll hours to the payroll department for processing, and deliier paychecks to employees. C. Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatcally deposited in the employee's bank account. D. Payroll personnel add employees and enter employee bank account numbers but process hours only as approied by the human resources department. Paychecks are automatcally deposited in the employee's bank account. Answer: C Question: 4 Which of the following is an appropriate role for the board in goiernance?

3. A. Preparing writen organizatonal policies that relate to compliance with laws, regulatons, ethics, and conficts of interest. B. Ensuring that fnancial statements are understandable, transparent, and reliable. C. Assistng the internal audit actiity in performing annual reiiews of goiernance. D. Working with the organizaton's atorneys to deielop a strategy regarding current litgaton, pending litgaton, or regulatory proceedings goiernance. Answer: B Question: 5 According to the Internatonal Professional Practces Framework, which of the following is the appropriate diiision of responsibilites for the coordinaton of internal and external audit eforts? I. Oiersight of Work Coordinaton of Actiites Chief audit executie Senior management II. Board Chief audit executie III. Chief fnancial ofcer Chief audit executie IV. Board Chief fnancial ofcer A. I. B. II. C. III. D. IV. Answer: B Question: 6 According to the Standards, the organizatonal status of the internal audit actiityy A. Must be sufcient to permit the accomplishment of its audit responsibilites. B. Is best when the reportng relatonship is direct to the board of directors. C. Requires the board's annual approial of the audit schedules, plans, and budgets. D. Is guaranteed when the charter specifcally defnes its independence. Answer: A

4. Question: 7 A high-iolume retailer of consumer goods has used point-of-sale data to record sales and update inientory records for seieral years. When price changes are scheduled, corporate headquarters downloads a price change fle to a computer serier system at each store. Each store's assistant manager is responsible for checking the serier for downloads and running the program that updates the store's price fle at the authorized price update tme. In comparison with haiing headquarters initate the price update centrally, this approach to price updatng will most likelyy A. Decrease the risk that customers will be undercharged consistently for sales items. B. Decrease the risk that item prices will sometmes be inaccurate. C. Increase the risk that customers will be undercharged consistently for sales items. D. Increase the risk that item prices will sometmes be inaccurate. Answer: D Question: 8 An internal auditor is reiiewing a new automated human resources system. The system contains a table of pay rates which are matched to the employee job classifcatons. The best control to ensure that the table is updated correctly for only ialid pay changes would be toy A. Limit access to the data table to management and line superiisors who haie the authority to determine pay rates. B. Require a superiisor in the department, who does not haie the ability to change the table, to compare the changes to a signed management authorizaton. C. Ensure that adequate edit and reasonableness checks are built into the automated system. D. Require that all pay changes be signed by the employee to ierify that the change goes to a bona fde employee. Answer: B Question: 9 According to the Internatonal Professional Practces Framework, internal auditors should possess which of the following competencies? I. Profciency in applying internal auditng standards, procedures, and techniques. II. Profciency in accountng principles and techniques. III. An understanding of management principles. IV. An understanding of the fundamentals of economics, commercial law, taxaton, fnance, and quanttatie methods. A. I only.

5. B. II only. C. I and III only. D. I, III, and IV only. Answer: D Question: 10 Which of the following is not an appropriate role for internal auditors afer a disaster occurs? A. Monitor the efectieness of the recoiery and control of operatons. B. Correct defciencies of the entty's business contnuity plan. C. Recommend future improiements to the entty's business contnuity plan. D. Assist in the identfcaton of lessons learned from the disaster and the recoiery operatons. Answer: B Question: 11 Which of the following lists the audit actiites in the order in which they would generally be completed during a preliminary suriey? I. Write detailed audit procedures. II. Identfy client objecties, goals, and standards. III. Identfy risks and controls intended to preient associated losses. IV. Determine releiant engagement objecties. A. II, I, IV, III. B. II, III, IV, I. C. III, IV, II, I. D. II, IV, I, III. Answer: B Question: 12 During the planning phase of an audit of suspected oierbilling on contracts for security seriices, an auditor should perform all of the following excepty A. Interiiewing an ofcial of the security seriices company to determine the cause of recent increases in billings for seriices. B. Interiiewing the manager who requested the audit engagement. C. Obtaining a copy of the contract between the two organizatons. D. Preparing an engagement program.

6. Answer: A Question: 13 Which of the following statements regarding segregaton of dutes is true? A. When eialuatng an organizaton's policy on segregaton of dutes, employee competence does not need to be considered. B. An organizatonal chart proiides an accurate defniton of segregaton of dutes. C. A restrictie segregaton-of-dutes policy can help improie an organizaton's communicaton. D. Policies on segregaton of dutes in informaton systems must recognize the diference between logical and physical access to assets. Answer: D Question: 14 An auditor plans to analyze customer satsfacton, includingy (1) customer complaints recorded by the customer seriice department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a suriey of customers who made purchases in the last three months. Which of the following statements regarding this audit approach is correct? A. Although useful, such an analysis does not address any risk factors. B. The suriey would not consider customers who did not make purchases in the last three months. C. Steps 1 and 2 of the analysis are not necessary or cost-efectie if the customer suriey is comprehensiie. D. Analysis of three months' actiity would not eialuate customer satsfacton. Answer: B

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