IIA-CIA-Part1 Practice Test

Which of the following,other than the internal audit charter,is most likely to define the
purpose,authority,and responsibility of the internal audit activity (IAA)?

A.

The chief audit executive job description.

B.

The internal audit policy statement.

C.

The organization's charter to conduct operations.

D.

The IAA vision statement.

What conclusion can be reached by comparing a random sample of vendor invoices to
purchase orders?

A.

No duplicate invoices were received.

B.

No duplicate payments were made.

C.

Invoices were for authorized purchases.

D.

Authorized invoices were paid.

Which of the following results from computer assisted audit techniques provides the most
significant indication that additional audit work is needed?

A.

Several exact matches were found when vendor and employee addresses were
compared.

B.

The sum of credit entries on the bank statement did not equal the sum of collections for
the same period.

C.

Sorting the check register file by vendor name identified missing sequences of check
numbers.

D.

Matching the accounts payable transaction file with the purchase order request file
resulted in many differences between the person requesting the purchase order and the
person authorizing payment.

An internal auditor would most likely judge an error in an account balance to be material if
the error involves:

A.

A data input function.

B.

A large percentage of net income.

C.

An unverified routine transaction.

D.

An unusual transaction for the company.

Which of the following would be an appropriate outcome of a quality assurance and
improvement program in an internal audit activity?
1.Modification of resources.
2.Corrections to procedures.
3.Changes in processes.
4.Implementation of new technology.

A.

2 and 4 only

B.

3 and 4 only

C.

1,2,and 3 only

D.

1,2,3,and 4