IIA CIA Certification Exam Questions with AI Explanations

QUESTION: 336

An auditor plans to query a vendor database to locate evidence of a fictitious vendor scheme. Which of the following would be likely to detect this type of fraud?

I). Vendors that lack a phone number or an address
II). Vendors that have a post office box as an address
III). Vendors that have multiple addresses

I only
III only
I and II only
I, II, and III

Answer(s): C

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QUESTION: 337

Which of the following techniques would be most effective in managing emotional issues that emerge during a control self assessment workshop?

Allow the group to vent their emotions until they are ready to return to the agenda
Acknowledge underlying emotions and then continue with the workshop
Respectfully remind the group of the agenda that they agreed to pursue and continue with the workshop.
Facilitate the discussion so that the emotions can be channeled into appropriate action plans.

Answer(s): D

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QUESTION: 338

Which of the following is not an outcome of control self assessment (CSA)?

Management and employees of business units become trained in risk assessment and management.
Employees take ownership of the risks and control procedures in their business unit.
The internal audit activity no longer needs to evaluate risks and control procedures for business units that have implemented CSA.
Overall monitoring improves, and continuous improvement is possible.

Answer(s): C

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QUESTION: 339

During a fraud investigation, an internal auditor finds that one of the suspects is the senior executive to whom fraudulent activities are to be reported. Would it be appropriate for the internal auditor to report interim findings directly to the audit committee without notifying the senior executive?

Yes, because it is important to maintain confidentiality while obtaining evidence.
Yes, because the audit committee should make all decisions regarding fraud investigations.
No, because the auditor should report the findings directly to law enforcement officials.
No, because all frauds are to be reported to the senior executive.

Answer(s): A

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QUESTION: 340

Which of the following is correct with respect to interim communication during an audit engagement?

I). Unsubstantiated information that warrants management's attention can be communicated, provided that its nature is disclosed.
II). Audit recommendations should be reserved for the final audit report.
III). Significant findings should be communicated immediately rather than waiting until completion of the engagement.

I only.
I and III only.
II and III only.
I, II, and III only.

Answer(s): B

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