-CIA-Part2 Certification Exam Questions with AI Explanations

QUESTION: 91 Exam Topic: 1, Volume A

Which of the following factors would increase the confidence level in a variables sampling plan?

A larger sample size.
II. A stratified sample.
III. A larger standard deviation.
I and II only
I and III only
II and III only
I, II, and III

Answer(s): A

QUESTION: 92 Exam Topic: 1, Volume A

If an auditor is sampling to test compliance with a particular company policy, which of the following factors should not affect the allowable level of sampling risk?

The experience and knowledge of the auditor.
The adverse consequences of noncompliance.
The acceptable level of risk of making an incorrect audit conclusion.
The cost of performing auditing procedures on sample selections.

Answer(s): A

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QUESTION: 93 Exam Topic: 1, Volume A

Which of the following describes an internal auditor's responsibilities to include audit procedures to detect fraud in audits of a multinational organization?

International Accounting Standards require the internal auditor to include audit procedures which would detect fraud if it would cause a material misrepresentation of the financial statements.
Internal auditors do not have any specific responsibilities with respect to including fraud-related audit procedures.
Proper audit procedures, when carried out with due professional care, will guarantee that fraud, if present, will be detected.
If significant control weaknesses are detected, additional tests should be directed toward other indicators of fraud.

Answer(s): D

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QUESTION: 94 Exam Topic: 1, Volume A

An appliance repair company is considering relocating the center that houses its service vehicles. An internal auditor wants to determine the potential reduction in average miles driven by the service vehicles if the center is relocated. Which of the following statistical sampling methods would be most appropriate for this test?

Attributes sampling.
Discovery sampling.
Probability-proportional-to-size sampling.
Mean-per-unit sampling.

Answer(s): D

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QUESTION: 95 Exam Topic: 1, Volume A

Monetary-unit sampling is most useful when the internal auditor:

Is testing the accounts payable balance.
Cannot cumulatively arrange the population items.
Expects to find several material errors in the sample.
Is concerned with overstatements.

Answer(s): D

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IIA Certified Internal Auditor - Part 2, Practice of Internal Auditing IIA-CIA-Part2 Exam Questions in PDF

Free IIA IIA-CIA-Part2 Dumps Questions (page: 19)

QUESTION: 91 Exam Topic: 1, Volume A

QUESTION: 92 Exam Topic: 1, Volume A

QUESTION: 93 Exam Topic: 1, Volume A

QUESTION: 94 Exam Topic: 1, Volume A

QUESTION: 95 Exam Topic: 1, Volume A