Exam (elaborations)
CIA Assessment Quiz Questions with 100% correct answers | verified | latest update 2024
CIA Assessment Quiz Questions with 100% correct answers | verified | latest update 2024
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CIA Assessment QuizTo ensure that due professional care has been taken at all times during an engagement,
the internal auditor should always
A.Ensure that all financial information related to the audit is included in the audit plan
and examined for nonconformance or irregularities.
B.Ensure that all audit tests are fully documented.
C.Consider the possibility of nonconformance or irregularities at all times during an
engagement.
D.Communicate any noncompliance or irregularity discovered during an engagement
promptly to the audit committee. - ANS-C
Which of the following activities would be considered an assurance service by the
internal auditors?
A.The board is in the due diligence phase of a new company acquisition. The CFO has
asked for the internal auditor's opinion of the new company's debt structure.
B.The director of inventory control has hired 20 temporary employees for the seasonal
business. The director has requested internal audit to provide training on the importance
of inventory control procedures.
C.The employee turnover in the tax department has been exceptionally high this year.
The tax director has requested internal audit's assistance in preparing property tax
returns.
D.Internal auditing has agreed to work with the warehouse manager in examining
organizational performance for the purpose of promoting change. - ANS-A
Support from which persons or combination of persons listed below is most important to
the success of the internal audit activity?
A.The chief executive officer and chief financial officer.
B.The chief executive officer.
C.Management and the board.
D.The audit committee. - ANS-C
Certified internal auditors may obtain CPE credits through a variety of qualifying
activities except
A.Performing external quality assessments.
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