[Aug-2023] IIA-CIA-Part2 Dumps are Available for Instant Access from TestkingPass
Study resources for the Valid IIA-CIA-Part2 Braindumps!
IIA-CIA-Part2 certification exam consists of 100 multiple-choice questions that must be completed within a time limit of two hours and forty-five minutes. IIA-CIA-Part2 exam covers a wide range of topics related to internal auditing, including internal control and risk management, governance and business ethics, communication, and audit tools and techniques. IIA-CIA-Part2 exam is conducted in English and is available in both online and paper-based formats.
Learn about the Objective of IIA CIA Part 2 Exam?
The IIA CIA Part 2 Exam is a globally recognized certification exam. The IIA have continuously updated the content of the exam to meet the requirements of the certification exam. It has become a requirement by many employers to hire new employees or promote current employees who have passed this exam in order to ensure that they are able to use the latest technology and skills.
The IIA CIA Part 2 certification is a very challenging and demanding exam that requires candidates to have excellent technical knowledge and skills. In order to pass this exam, candidates need to be very familiar with all of its topics. They also need to be knowledgeable about how each topic relates to other topics and how they can use these relationships in their day-to-day activities. IIA CIA Part 2 exam dumps are the right choice for you.
In addition, candidates must be very familiar with all the different types of questions that may be presented during the examination process. This is because this type of test will require them to answer several types of questions in order to determine if they are qualified for the job. Most employers want to hire those individuals who are capable of solving difficult problems and performing difficult tasks. Educated level of authorization to answering the diligent testing question and don't use the exam dumpslink card install address the times rate.
The IIA CIA Part 2 Exam does not require an individual candidate to take any specific classes or training programs prior to taking the examination.
NEW QUESTION # 181
Once an audit report is drafted, the auditor's supervisor should review it primarily to ensure that all:
- A. Statements are supported and can be authenticated.
- B. Processes within the audited area were reviewed.
- C. Recommendations for corrective action are clear.
- D. Sample sizes appear appropriate for any issues found.
Answer: A
NEW QUESTION # 182
Due to the expanded role of internal audit in the organization, the chief audit executive (CAE) of a construction company decides to employ the services of an outsourced audit service provider to augment the internal audit staff. What does the CAE need to consider in determining whether the outsourced audit service provider possesses the necessary knowledge, skills and other competencies to perform an audit engagement?
- A. Specific matters expected to be covered in the engagement communications.
- B. The reputation of the external service provider.
- C. The extent of other ongoing services the external service provider may be performing for the organization.
- D. The financial interest that the external service provider may have in the organization.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 183
For which of the following fraud engagement activities would it be most appropriate to involve a forensic auditor?
- A. Performing statistical analysis for data anomalies.
- B. Assessing contracts for relevant terms and conditions.
- C. Independently evaluating conflicts of interests.
- D. Preparing evidentiary documentation.
Answer: D
NEW QUESTION # 184
A staff auditor, nearly finished with an audit engagement, discovers that the director of marketing has a gambling habit. The gambling issue is not directly related to the existing engagement and there is pressure to complete the current engagement. The auditor notes the problem and forwards the information to the chief audit executive but performs no further follow-up. The auditor's actions would:
I. Be in violation of the IIA Code of Ethics for withholding meaningful information.
II. Be in violation of the Standards because the auditor did not properly follow up on a red flag that might indicate the existence of fraud.
III. Not be in violation of either the IIA Code of Ethics or Standards.
- A. II only
- B. III only
- C. I only
- D. I and II only
Answer: B
Explanation:
Section: Volume C
NEW QUESTION # 185
An internal audit activity is participating in the due diligence work for an acquisition that a company is considering. One engagement objective is to determine if the acquisition's accounts payable contain all outstanding liabilities. Which of the following audit procedures would not be relevant for this objective?
- A. Examine supporting documentation of subsequent (after-period) cash disbursements and verify period of liability.
- B. Trace receiving reports issued before the period end to the related vendor invoices and accounts payable list.
- C. Select a sample of accounts payable from the accounts payable list and verify the supporting receiving reports, purchase orders, and invoices.
- D. Send confirmations, including zero-balance accounts, to vendors with whom the company normally does business.
Answer: C
NEW QUESTION # 186
As a result of a recent discovery of false information on employment applications, an internal auditor has reviewed hiring procedures. Which of the following represents a weakness in the control system?
I. Applicants are not required to have their signed applications legally authenticated.
II. Applicants' educational information is not validated with the educational institution before employment is offered.
III. Information related to applicants' long-term work history is not validated before employment is offered.
- A. I, II, and III
- B. III only
- C. I and II only
- D. II and III only
Answer: D
Explanation:
Section: Volume B
NEW QUESTION # 187
The internal audit activity of an organization obtained approval to add a senior auditor to its staff. The chief audit executive, audit manager, and audit supervisor each will interview the candidates. According to the Standards, which of the following best explains the involvement of management in the interview process?
- A. Enables audit management to outline its quality assurance and improvement program with the senior auditor.
- B. Assists audit management in planning by more effectively allocating the senior auditor to appropriate audits.
- C. Allows audit management to explain the criteria that will be used to evaluate the senior auditor's performance.
- D. Provides audit management with the opportunity to communicate expectations regarding ethical behavior standards.
Answer: B
NEW QUESTION # 188
The most effective way for internal auditors to enhance the reliability of computerized financial and operating information is by:
- A. Determining if information systems provide management with timely information.
- B. Determining if controls over record keeping and reporting are adequate and effective.
- C. Determining if information systems provide complete information.
- D. Reviewing data provided by information systems to test compliance with external requirements.
Answer: B
Explanation:
Section: Volume A
NEW QUESTION # 189
Which of the following conclusions would be appropriate for a beginning auditor performing an audit of a payroll department?
- A. Although there is insufficient segregation of duties, the impact is mitigated by compensating controls.
- B. Employee taxes have been deducted at the correct rates, and the taxes have been forwarded to the appropriate government agency.
- C. The payroll department staff has the appropriate level of skills.
- D. The payroll computer system should be replaced.
Answer: B
NEW QUESTION # 190
Why should internal auditors develop a strong relationship with the external auditors?
- A. External auditors can help improve the effectiveness of internal control sampling techniques.
- B. External auditors can offer an independent and knowledgeable viewpoint.
- C. External auditors can share information gained from work with similar clients.
- D. External auditors offer an additional layer of approval to internal auditors' reports.
Answer: B
NEW QUESTION # 191
Access control software on an organization's mainframe computer records detailed information concerning both successful and unsuccessful log-on attempts to applications. Which of the following audit tools would be best suited to review the access information that has been recorded?
- A. Integrated test facility.
- B. Generalized audit software.
- C. Flowcharting.
- D. Test data.
Answer: B
Explanation:
Section: Volume A
NEW QUESTION # 192
Controls are implemented to:
- A. Eliminate risk and reduce the potential for loss.
- B. Mitigate risk and eliminate the potential for loss.
- C. Eliminate risk and eliminate potential for loss.
- D. Mitigate risk and reduce the potential for loss.
Answer: D
Explanation:
Section: Volume D
NEW QUESTION # 193
The internal audit activity of an investment company received a request to provide assurance on the risk management process. Preliminary discussion with senior management revealed that separate functions within the organization perform some form of risk management activities. Which of the following is the most effective tool for ensuring that risk management activities are coordinated among these functions?
- A. Delphi technique.
- B. Assurance map.
- C. Analytical reviews.
- D. Facilitated workshop.
Answer: B
NEW QUESTION # 194
In order to obtain background information on an assigned audit of data center operations an internal auditor administers control questionnaires to select individuals who have primary responsibilities within the process. Which of the following is a drawback of this approach?
- A. It will be difficult to quantify the information obtained through this approach
- B. It takes the auditor a long time to assess the relevant controls using this approach
- C. This approach does not help the auditor learn about the existence of controls
- D. Information on control functionality is limited
Answer: A
NEW QUESTION # 195
The internal audit activity of an investment company received a request to provide assurance on the risk management process. Preliminary discussion with senior management revealed that separate functions within the organization perform some form of risk management activities. Which of the following is the most effective tool for ensuring that risk management activities are coordinated among these functions?
- A. Delphi technique.
- B. Assurance map.
- C. Analytical reviews.
- D. Facilitated workshop.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 196
A company has recently incurred significant cost overruns on one of its construction projects. Management suspects that these overruns were caused by the contractor improperly accounting for costs related to contract change orders. Which of the following procedures would be appropriate for testing this suspicion?
I. Verify that the contractor has not charged change orders with costs that have already been billed to the original contract.
II. Determine if the contractor has billed for original contract work that was canceled as a result of change orders.
III. Verify that the change orders were properly approved by management.
- A. I and II only
- B. III only
- C. I and III only
- D. I only
Answer: A
Explanation:
Section: Volume A
NEW QUESTION # 197
One method for dealing with the uncertainty of demand forecasts used in linear programming is to extend the model solution to include.
- A. Goal seeking.
- B. Nonlinear programming.
- C. Branch-and-bound solutions.
- D. Sensitivity analysis.
Answer: D
NEW QUESTION # 198
When establishing the internal audit activity's annual plan, which of the following would be the best source of potential audit engagement topics?
- A. The organization's budget.
- B. Recent changes in management objectives.
- C. Risk factors utilized in the organization's risk models.
- D. Operations involving cash transactions.
Answer: B
Explanation:
Section: Volume D
NEW QUESTION # 199
New environmental regulations require the board to certify that the organization's reported pollutant emissions data is accurate. The chief audit executive (CAE) is planning an audit to provide assurance over the organization's compliance with the environmental regulations. Which of the following groups or individuals is most important for the CAE to consult to determine the scope of the audit?
- A. The organization's external environmental lawyers.
- B. The audit committee of the board.
- C. The environmental, health, and safety manager.
- D. The organization's insurance department.
Answer: C
NEW QUESTION # 200
An audit of customer accounts receivable found that outstanding receivables as a percentage of revenue had increased significantly during the past two years. The increase was attributed to the extension of credit, at the urging of the marketing department, to a number of companies that were not creditworthy. Which of the following would be least useful in monitoring the disposition of this finding?
- A. Periodic updates from the controller regarding the status of corrective actions.
- B. Responses from the manager of accounts receivable regarding collection of outstanding receivables.
- C. Updates from the information technology division regarding implementation of a new accounts receivable system.
- D. Information from the credit and marketing personnel assigned the responsibility for reevaluating credit policies.
Answer: C
NEW QUESTION # 201
......
Updated IIA-CIA-Part2 Tests Engine pdf - All Free Dumps Guaranteed: https://evedumps.testkingpass.com/IIA-CIA-Part2-testking-dumps.html