Free IIA IIA-CIA-Part1 Exam Questions

Management has implemented a segregation-of-duties policy for handling inventory. Which of the following fraud risks would be more concerning to an internal auditor following the implementation of this new policy?

This chief audit executive (CAE) engaged an internal auditor to consult on an organization's complex information technology system. Shortly after beginning the engagement, the auditor unexpectedly resigned. Unfortunately, this auditor was the only available auditor with the necessary expertise. The CAE will not be able to hire someone with similar expertise in time to meet a regulatory deadline.

Which of the following would be the best course of action for the CAE to take?

An auditor is using audit software to check inventory accuracy. Which of the following would be an indicator of poor input edit controls?

What conclusion can be reached by comparing a random sample of vendor invoices to purchase orders?

Which of the following actions by a chief audit executive is most likely to prevent exaggerated sales reports by division management?

I. Hire a new internal auditor who has fraud investigation credentials.

II. Assist the controller in developing and monitoring a series of business process indicators which are historically correlated with, but independent of, sales.

III. Announce a series of internal audit engagements focusing on compliance with corporate sales-reporting policies.

IV. Ask the president and the board to issue a statement of corporate policy stressing the importance of accurate management reporting and the negative consequences of intentional misreporting.