Exam Code: IIA-CIA-PART1
Exam Name: Certified Internal Auditor - Part 1, The Internal Audit Activity's Role in Governance, Risk, and Control
Updated:
Q&As: 566
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Which of the following would be the best source of information for a chief audit executive to use in planning future audit staff requirements?
A. Discussions of audit needs with executive management and the audit committee.
B. Review of audit staff education and training records.
C. Review of audit staff size and composition of similar-sized companies in the same industry.
D. Interviews with existing audit staff.
A bakery chain has a statistical model that can be used to predict daily sales at individual stores based on a direct relationship to the cost of ingredients used and an inverse relationship to rainy days. What conditions would an auditor look for as an indicator of employee theft of food from a specific store?
A. On a rainy day, total sales are greater than expected when compared to the cost of ingredients used.
B. On a sunny day, total sales are less than expected when compared to the cost of ingredients used.
C. Both total sales and cost of ingredients used are greater than expected.
D. Both total sales and cost of ingredients used are less than expected.
The primary role of the internal audit activity in regard to an organization's ethical climate is to:
A. Participate as chief ethics officer.
B. Periodically assess the ethical climate.
C. Utilize surveys to evaluate employee ethics.
D. Demonstrate ethical behavior.
An organization that outsources much of its internal audit work to an external service provider is planning for an external quality assessment. Which of the following options would accomplish this task and be in conformance with the Standards?
A. Engaging an external industry associate that performed a similar review for a supplier of the organization.
B. Selecting a team from an independent entity that previously employed the chief audit executive of the organization.
C. Using a team under the direction of the organization's chief audit executive, and obtaining validation from a former manager of the internal audit activity.
D. Using the same external service provider because of its competency and experience with the organization.
Which of the following is not an objective of internal control?
A. Compliance.
B. Accuracy.
C. Efficiency.
D. Validation.
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