Free IIA-CIA-Part1 Exam Dumps

Which of the following best describes the misdirection of payments on accounts receivable to an employee's bank account?

Correct Answer:C

Which segregation of duties would best reduce the risk of payroll fraud?

A. Human resources personnel add employees, and payroll personnel process hours and enter employee bank account number
B. Paychecks are automatically deposited in the employee's bank account.
C. Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.
D. Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.
E. Human resources personnel add employees and enter employee bank informatio
F. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.

Correct Answer:A

An internal auditor wants to sample data to test an audit theory in a cost-effective way. Which of the following sampling strategies should she use?

Correct Answer:B

Which of the following scenarios best illustrates the principle of due professional care?

A. An internal auditor evaluates the significant risks arising from a consulting engagement.
B. An internal auditor declares that he would have a conflict of interest in providing planned audit support.
C. An internal auditor has been given sufficient authority to access documents needed to make an appraisal of an issue.
D. An internal auditor uses technology-based audit techniques to ensure that all significant risks are identified.

Correct Answer:A

In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?

A. The CAE would need to procure external services to deliver the internal audit assurance program.
B. There is no expertise within the internal audit team for detecting and investigating fraud.
C. There is no expertise within the internal audit team for auditing an IT engagement.
D. There is no available expertise on the internal audit team to perform a consulting engagement.

Correct Answer:B