Free IIA IIA-CIA-Part2 Exam Questions

Become IIA Certified with updated IIA-CIA-Part2 exam questions and correct answers

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Total 485 Questions | Updated On: Feb 18, 2025

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Question 1

Which of the following would present the most critical external risk to an organization?

Section: Volume E

A : organization experiences a merger, and the management team is reorganized and redistributed globally.

B : organization launches a product into new global markets.

C : ter minimal testing, the organization implements a new system to replace a legacy system.

D : Regulators announce broad legislative reforms applicable to the industry within which the organizationoperates.

Answer: C

Question 2

The newly appointed chief audit executive (CAE) of a large multinational corporation, with seasoned internal audit departments located around the world, is reviewing responsibilities for engagement reports. According to IIA guidance, which of the following statements is true?

A : CAE is required to review, approve, and sign every engagement report.

B : CAE is required to review, approve, and sign all regulatory compliance engagement reports only

C : CAE may delegate responsibility for reviewing, approving and signing engagement reports, but should review the reports after they are issued.

D : internal audit charter must identify authorized signers of engagement reports.

Answer: C

Question 3

The chief audit executive (CAE) mentions to management that the internal audit activity plans to include an engagement addressing a significant emerging industry risk on the audit plan. Management informs the CAE that the compliance department is already scheduled to perform assurance work related to the risk. What must the CAE do to determine whether or not to add the proposed engagement to the audit plan?

A : Assess the independence, objectivity, and competence of the compliance department with regard to the work being performed.

B : Inquire of compliance department management about whether they have the authority to perform the work.

C : Review the audit universe for additional engagements that may be available to add to the audit plan instead.

D : Survey management to determine whether it is necessary to duplicate the work of the compliance department.

Answer: A

Question 4

An internal auditor reviewed bank reconciliations prepared by management of the area under review. The auditor noted that the bank statements attached did not have the bank heading, logo, or address. Which of the following statements is true regarding this situation?

A : The evidence may not be reliable.

B : The evidence is not relevant.

C : The evidence may not be sufficient.

D : The information missing is not relevant to the audit.

Answer: A

Question 5

An internal auditor is using the five-attribute approach to document deficiencies in a warehouse shipping

process. Which of the following five attributes will be included in the workpapers?

Section: Volume E

A : k, impact, likelihood, existing control, recommendation.

B : ndition, criteria, cause, effect, recommendation.

C : ndition, cause, effect, test, result.

D : Risk, impact, test, result, recommendation.

Answer: B

Page: 1 / 97

Total 485 Questions | Updated On: Feb 18, 2025

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