IIA-CIA-Part2 exam questions

1. Question 1

   Single answer

   Which of the following analytical procedures should an internal auditor use to determine whether monthly expenses for the accounting department are reasonable?

   • A

     Review year-over-year trending of total dollars spent in each period.

   • B

     Review changes to the vendor master file for suspicious activity.

   • C

     Review the percentage of on-time payments against prior periods.

   • D

     Review total expenses for accounting against other department expenses in the organization.

   Reveal answer

   Correct answer

   • A

     Review year-over-year trending of total dollars spent in each period.

2. Question 2

   Single answer

   Which of the following is the most appropriate objective for establishing a professional development plan for the internal audit activity?

   • A

     A plan that focuses on furthering the independence of the internal audit activity.

   • B

     A plan that ensures internal auditors collectively possess expertise in various fields to avoid outsourcing.

   • C

     A plan based on individual preferences and proposals, which helps internal auditors achieve greater success.

   • D

     A plan that focuses on filling gaps in the current skills needed to complete audit objectives.

   Reveal answer

   Correct answer

   • D

     A plan that focuses on filling gaps in the current skills needed to complete audit objectives.

3. Question 3

   Single answer

   Which of the following is an example of internal benchmarking?

   • A

     Book value per common share ratio is lower than that of the prior year.

   • B

     Staff turnover ratio is higher than the comparable organization in the same industry.

   • C

     Utilities expense of the sales unit is higher than that of the customer service unit.

   • D

     Sales are significantly higher than the industry’s average for five years.

   Reveal answer

   Correct answer

   • C

     Utilities expense of the sales unit is higher than that of the customer service unit.

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5. Question 4

   Single answer

   While conducting an information security audit, an internal auditor learns that the existing disaster recovery plan is four years old and untested. The auditor also learns that in the four years since the recovery plan was implemented, the information systems have undergone extensive changes. Which of the following actions is most appropriate for the auditor to take?

   • A

     Inform management and request that the plan be tested immediately.

   • B

     Update the recovery plan for management, as part of the review.

   • C

     Evaluate the recovery plan and report weaknesses to management.

   • D

     Recommend that management and users update and test the recovery plan.

   Reveal answer

   Correct answer

   • D

     Recommend that management and users update and test the recovery plan.

6. Question 5

   Single answer

   Which of the following is the primary reason an internal auditor would issue an interim report during an engagement?

   • A

     To provide a status update on a short engagement to management of the area under review and to the audit supervisor.

   • B

     To confirm agreement with preliminary observations and conclusions identified during the engagement.

   • C

     To provide those responsible for the area under review with the opportunity to act on certain observations immediately.

   • D

     To verify that the corrective actions required by senior management are completed as agreed.

   Reveal answer

   Correct answer

   • C

     To provide those responsible for the area under review with the opportunity to act on certain observations immediately.

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