Latest IIA-CIA-Part2 Exam Questions

All assurance engagement observations should be communicated to the audit committee.

All assurance engagement observations should be included in the main section of the
engagement communication.

During the "communicate" phase of an assurance engagement, it is best to define the methods
and timing of engagement communications.

A detailed escalation process should be developed during the planning stage of an assurance
engagement.

Assert whether the described and reported control processes and systems exist.

Assess whether senior management adequately supports and promotes the internal control
culture described in the report.

Evaluate the completeness of the report and management's responses to identified
deficiencies.

Determine whether management's operating style and the philosophy described in the report
reflect the effective functioning of internal controls

 The observation was made during the same audit, and the action plan has a common owner.

The observation relates to the same control activity within a common process.

The observation has a common control, and it was noted in a prior audit.

The observation has a common process, and the action plan for the observation has a common
owner.

Report follow-up activities to senior management.

Implement follow-up procedures to evaluate residual risk.

Determine the costs of implementing the recommendations.

Evaluate the extent of improvements.

 Identify and manage risks in line with the organization's risk appetite.

Ensure that a proper and effective risk management process exists.

Attain an adequate understanding of the organization's key risk mitigation strategies.

Identify and ensure that appropriate controls exist to mitigate risks.

Require the approval of additions and changes to the vendor master listing, where the inherent
risk of false vendors is high.

Monitor amounts paid each period and compare them to the budget to identify potential issues.

Compare employee addresses to vendor addresses to identify potential employee fraud.

Monitor customer quality complaints compared to the prior period to identify vendor issues.

The number, experience, and availability of audit staff as well as the nature, complexity, and
time constraints of the engagement.

The appropriateness and sufficiency of resources and the ability to coordinate with external
auditors.

 The number, proficiency, experience, and availability of audit staff as well as the ability to
coordinate with external auditors.

The appropriateness and sufficiency of resources as well as the nature, complexity, and time
constraints of the engagement.

1 and 2

1 and 4

2 and 3

3 and 4

The review should focus on the efficiency of the controls in place to prevent fraud.

The scope of the review does not need to include all operating areas of the organization.

The cost of the control should be compared to the benefit of mitigating the related risk.

The review should assess whether the internal controls can be circumvented.

1 only

4 only

1 and 3

2 and 4