Free IIA IIA-CIA-Part2 Exam Dumps and IIA-CIA-Part2 Exam Questions

Question No: 1

MultipleChoice

An auditor plans to analyze customer satisfaction, including. (1) customer complaints recorded by the customer service department during the last three months; (2) merchandise returned in the last three months; and (3) responses to a survey of customers who made purchases in the last three months. Which of the following statements regarding this audit approach is correct?

Options

AAlthough useful, such an analysis does not address any risk factors.

BThe survey would not consider customers who did not make purchases in the last three months.

CSteps 1 and 2 of the analysis are not necessary or cost-effective if the customer survey is comprehensive.

DAnalysis of three months' activity would not evaluate customer satisfaction.

Question No: 2

MultipleChoice

A company's policy requires that all customers be treated in a fair and consistent manner. Which of the following audit procedures would provide the most persuasive evidence that the policy was followed?

Options

ACompare the aging of outstanding receivables due from each customer.

BCompare credit reports with annual sales for a sample of customers.

CCompare the ratio of outstanding receivables to the authorized credit limit for each customer.

DCompare the sales discounts offered to each customer.

Question No: 3

MultipleChoice

What would be used to determine the collectability of accounts receivable balances?

Options

AThe file of related shipping documents.

BNegative accounts receivable confirmations.

CPositive accounts receivable confirmations.

DAn aged accounts receivable listing.

Question No: 4

MultipleChoice

Which of the following would provide the best evidence of compliance with an airline's standard of having aircraft refueled and cleaned within a specified time of arrival at an airport?

Options

AVendor fuel invoices that have been reconciled to inventory records.

BTime cards completed by aircraft cleaning and fueling crews.

CObservation of selected aircraft while they are being refueled and cleaned.

DComparison of the standard hourly labor costs for cleaning and fueling personnel with actual labor charges.

Question No: 5

MultipleChoice

Which of the following would be most helpful to a governmental auditor searching for the existence of multiple welfare claims that were filed under different names but used the same address?

Options

ATagging and tracing.

BGeneralized audit software.

CIntegrated test facility.

DSpreadsheet analysis.

Question No: 6

MultipleChoice

Which of the following is a weakness that is inherent in the use of the test data method to test internal controls in a computer-based accounting system?

Options

AThe auditor must test many transactions with the same condition in order to achieve assurance that the condition is being detected.

BConditions that were not specifically considered by the auditor may go untested.

CThe approach requires the creation of 'dummy companies,' possibly destroying or altering actual company data in the process.

DInclusion of atypical data in the test data may cause errors to be noted on the exception report.

Question No: 7

MultipleChoice

Which of the following would be an appropriate improvement to controls over large quantities of consumable material that are charged to expense when placed in bins which are accessible to production workers?

Options

ARelocate bins to the inventory warehouse.

BRequire management to compare the cost of consumable items used to the budget.

CLock the bins during normal working hours.

DNone of the above actions are needed for items of minor cost and size.

Question No: 8

MultipleChoice

An organization's internal auditors are reviewing production costs at a gas-powered electrical generating plant. They identify a serious problem with the accuracy of carbon dioxide emissions reported to the environmental regulatory agency, due to computer errors. The auditors should immediately report the concern to:

Options

AThe regulatory agency.

BPlant management.

CA plant health and safety officer.

DThe risk management function.

Question No: 9

MultipleChoice

A manufacturing process could create hazardous waste at several production stages, from raw materials handling to finished goods storage. If the objective of a pollution prevention audit engagement is to identify opportunities for minimizing waste, in what order should the following opportunities be considered?

1. Recycling and reuse.

2. Elimination at the source.

4. Energy conservation.

5. Recovery as a usable product Treatment.

Options

AV, II, IV, I, III.

BIV, II, I, III, V.

CI, III, IV, II, V.

DIII, IV, II, V, I.

Question No: 10

MultipleChoice

When internal auditors provide consulting services, the scope of the engagement is primarily determined by:

Options

AInternal auditing standards.

BThe audit engagement team.

CThe engagement client.

DThe internal audit activity's charter.

Free IIA-CIA-Part2 Exam Dumps