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IIA IIA-CIA-Part3-3P - CIA Exam Part Three: Business Knowledge for Internal Auditing

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Total 488 questions

in which of the following technical infrastructure audits should attention be turned to physical security and environmental controls?

A.

Database review

B.

Data center review

C.

Network configuration review

D.

Operating systems review

Which of the following statements is true regarding an organization's inventory valuation1?

A.

The valuation will be incorrect it the inventory includes goods m transit shipped free on board (FOB) destination to another organization

B.

The valuation will be correct if the inventory includes goods received on consignment from another organization

C.

The valuation will be incorrect it the inventory includes goods in transit shipped FOB shipping point from another organization

D.

The valuation will be correct it the inventory includes goods sent on consignment to another

organization

Which of the following is true of bond financing, compared to common stock, when all other variables are equal?

A.

Lower shareholder control.

B.

Lower indebtedness.

C.

Higher company earnings per share.

D.

Higher overall company earnings.

While conducting audit procedures at the organization's data center, an internal auditor noticed the following:

Backup media was located on data center shelves.

Backup media was organized by date.

Backup schedule was one week in duration.

The system administrator was able to present restore logs.

Which of the following is reasonable for the internal auditor to conclude?

A.

Backup media is not properly stored, as the storage facility should be off-site.

B.

Backup procedures are adequate and appropriate according to best practices.

C.

Backup media is not properly indexed, as backup media should be indexed by system, not date.

D.

Backup schedule is not sufficient, as full backup should be conducted daily.

When would a contract be closed out?

A.

When there's a dispute between the contracting parties.

B.

When all contractual obligations have been discharged.

C.

When there is a force majeure.

D.

When the termination clause is enacted.

Which of the following is based on the concept that there is not one best leadership style and that successful leadership depends on a match between the leader, the situation, and the subordinate?

A.

Attribute theory.

B.

Path goal model

C.

Life cycle model

D.

Contingency theory

Which of the following statements is true concerning the basic accounting treatment of a partnership?

A.

The initial investment of each partner should be recorded at book value.

B.

The ownership ratio identifies the basis for dividing net income and net loss.

C.

A partner's capital only changes due to net income or net loss.

D.

The basis for sharing net incomes or net losses must be fixed.

Which of the following is a likely result of outsourcing?

A.

Increased dependence on suppliers.

B.

Increased importance of market strategy.

C.

Decreased sensitivity to government regulation.

D.

Decreased focus on costs.

The board has requested that the internal audit activity be involved in all phases of the organization's outsourcing of its network management. During which of the following stages is the internal auditor most likely to verify that the organization's right-to-audit clause is drafted effectively?

A.

Implementation and transition phase.

B.

Monitoring and reporting phase

C.

Decision-making and business-case phase.

D.

Tendering and contracting phase.

Which of the following application controls checks the integrity of data entered into a business application?

A.

Input controls.

B.

Output controls

C.

Processing controls

D.

Integrity controls