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The IIA IIA-CIA-Part2 Exam Questions give you a complete insight into each chapter and an easy understanding with simple and quick-to-understand language. The IIA IIA-CIA-Part2 exam dumps are the best choice to make. The common problem IIA IIA-CIA-Part2 Exam applicants face is seeking updated and real IIA IIA-CIA-Part2 practice test questions to prepare successfully for the cherished Practice of Internal Auditing IIA-CIA-Part2 certification exam.

IIA-CIA-Part2 Exam, also known as the Practice of Internal Auditing, is a certification exam offered by the Institute of Internal Auditors (IIA). It is designed to test the knowledge and skills of internal auditors who are responsible for planning, performing, and reporting the results of internal audits. IIA-CIA-Part2 Exam covers a wide range of topics related to internal auditing, including risk management, governance, and internal control.

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IIA-CIA-Part2 exam is a certification exam offered by the Institute of Internal Auditors (IIA) that focuses on the practice of internal auditing. IIA-CIA-Part2 Exam is designed to test the knowledge and skills of candidates in areas such as internal audit planning, execution, communication, and risk management. Practice of Internal Auditing certification is highly respected in the internal audit profession as it demonstrates a level of competence and expertise in the practice of internal auditing.

IIA Practice of Internal Auditing Sample Questions (Q98-Q103):

NEW QUESTION # 98
Which of the following is typically not a reason for committing financial statement fraud?

A. To obtain more favorable terms on financing.
B. To disguise a duplicate payment to a vendor.
C. To receive performance-related bonuses.
D. To dispel negative market perception.

Answer: B

NEW QUESTION # 99
An internal auditor and engagement client are deadlocked over the auditor's differing opinion with management on the adequacy of access controls for a major system. Which of the following strategies would be the most helpful in resolving this dispute?

A. Ask the chief audit executive to mediate.
B. Disclose the client's differing opinion in the final report.
C. Escalate the issue to senior management for a decision.
D. Conduct a joint brainstorming session with management.

Answer: C

Explanation:
When there is a deadlock between the internal auditor and management over a significant issue such as access controls, escalating the issue to senior management is the most effective strategy. This approach ensures that the disagreement is addressed at a higher organizational level, where a decision can be made that aligns with the organization's risk tolerance and priorities. References: = IIA Standard 2600 - Resolution of Senior Management's Acceptance of Risks.

NEW QUESTION # 100
Which phase of an audit engagement is typically the most effective time for an internal auditor to develop a risk and control matrix?

A. When preparing to recap audit test results.
B. At sample selection, to determine sampling methodology.
C. At the start of fieldwork, as part of developing the annual audit plan.
D. At planning, to assist in developing the engagement work program.

Answer: D

Explanation:
The most effective time for an internal auditor to develop a risk and control matrix is during the planning phase of an audit engagement. This matrix helps in identifying the key risks and the controls in place to mitigate those risks, which is crucial for developing a focused and effective engagement work program.
IIA Reference:
IIA Standard 2201: Planning Considerations requires internal auditors to consider significant risks and controls when planning the engagement. Developing a risk and control matrix at this stage ensures that the audit work is appropriately targeted at the most critical areas.
The Practice Guide on Risk Assessment advises that creating a risk and control matrix during planning helps in structuring the audit to address identified risks effectively.

NEW QUESTION # 101
An employee in the sales department completes a purchase requisition and forwards it to the purchaser. The purchaser places competitive bids and orders the requested items using approved purchase orders. When the employee receives the ordered items, she forwards the packing slips to the accounts payable department. The invoice for the ordered items is sent directly to the sales department, and an administrative assistant in the sales department forwards the invoices to the accounts payable department for payment. Which of the following audit steps best addresses the risk of fraud in the cash receipts process?

A. Examine whether the sales department supervisor approves invoices for payment.
B. Verify that approvals of purchasing documents comply with the authority matrix.
C. Observe whether the purchase orders are sequentially numbered.
D. Determine whether the accounts payable department reconciles all purchasing documents prior to payment.

Answer: A

NEW QUESTION # 102
When performing a compliance audit of the organization's outsourced services, which of the following is considered the primary engagement objective?

A. Evaluating the efficiency, effectiveness, economy, and sufficiency of the services provided.
B. Verifying that the organization does not have the appropriate knowledge and resources in-house.
C. Ensuring the provider has adequate internal controls in order to protect the quality of their service.
D. Assessing the provider's adherence to contract and regulatory requirements.

Answer: D

NEW QUESTION # 103
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Complete IIA-CIA-Part2 Test Study Guide | Amazing Pass Rate For IIA-CIA-Part2 Exam | Correct IIA-CIA-Part2: Practice of Internal Auditing

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IIA Practice of Internal Auditing Sample Questions (Q98-Q103):

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