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IIA-CIA-Part2 – Certified Internal Auditor - Part 2, Conducting the Internal Audit Engagement

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Showing 7–9 of 20 questions

Question 7 (Volume E)

For which of the following fraud engagement activities would it be most appropriate to involve a forensic auditor?

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    Independently evaluating conflicts of interests.
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    Assessing contracts for relevant terms and conditions.
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    Performing statistical analysis for data anomalies.
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    Preparing evidentiary documentation.
Question 8 (New Update)

Which of the following internal audit procedures commonly involves sampling?

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    Confirmation and financial statement analysis
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    Reperformance and inspection
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    Vouching and tracing
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    Trend analysis and benchmarking
Question 9 (Volume C)

A staff auditor, nearly finished with an audit engagement, discovers that the director of marketing has a gambling habit. The gambling issue is not directly related to the existing engagement and there is pressure to complete the current engagement. The auditor notes the problem and forwards the information to the chief audit executive but performs no further follow-up. The auditor's actions would: I. Be in violation of the IIA Code of Ethics for withholding meaningful information.

II. Be in violation of the Standards because the auditor did not properly follow up on a red flag that might indicate the existence of fraud.

III. Not be in violation of either the IIA Code of Ethics or Standards.

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    I only
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    II only
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    III only
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    I and II only