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CIA Part 2 Exam Questions and Answers | Comprehensive Practice Questions for IIA Certification

Preparing for the IIA CIA Part 2 exam can be a challenging task, but with the right study materials and practice, you can boost your chances of success. Our comprehensive collection of CIA Part 2 exam questions and answers is designed to mirror the format and difficulty level of the actual exam, providing you with a realistic test-taking experience. These practice questions are crafted by industry experts to cover all critical areas of the CIA Part 2 syllabus, ensuring that you are well-prepared for every topic. By incorporating these questions into your study routine, you'll gain a deeper understanding of the material and increase your confidence. Whether you're a seasoned professional or new to the field, these resources are invaluable for anyone aiming to pass the IIA CIA Part 2 exam. Our study materials are constantly updated to reflect the latest exam trends, so you can be sure that you're studying the most relevant content. Achieving your IIA Certification has never been more attainable with our targeted practice and expertly designed exam preparation resources.

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Question #1
Which of the following manual audit approaches describes testing the validity of a document by following it backward to a previously prepared record?
A. Tracing
B. Reperformance
C. Vouching
D. Walkthrough
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Correct Answer: C

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Question #2
An organization recently acquired a subsidiary in a new industry, and management asked the chief audit executive (CAE) to perform a comprehensive audit of the subsidiary prior to recommencing operations. The CAE is unsure her team has the necessary skills and knowledge to accept the engagement. According to IIA guidance, which of the following responses by the CAE would be most appropriate?
A. The CAE should accept the engagement and ensure that an explanation of the expertise limitations is included in the final audit report
B. The CAE should ask management to hire an external expert who is familiar with the industry to perform an independent audit for management
C. The CAE should accept the engagement and hire an external expert to assist the audit team with the audit of the subsidiary
D. The GAE should recommend postponing the engagement until the internal audit team is able to develop sufficient knowledge of the new industry
View answer
Correct Answer: C
Question #3
An internal auditor wants to identify potential ghost employees in the organization's payroll system. The auditor extracts the following data: Human resources data with employees' names, addresses, employment conditions, and identification codes. Payroll data. Logs from entrance systems. With this data, which of the following types of ghost employees will the auditor be able to identify?
A. Employees who are being paid more than their approved wages
B. Employees who get paid although their employment has expired
C. Employees who are related to one of the subcontractors
D. Employees who are physically present at the workplace, but who do not perform the specified job duties
View answer
Correct Answer: B
Question #4
To which of the following aspects should the chief audit executive give the most consideration while communicating an identified unacceptable risk to management?
A. The organization's attitude to hierarchy
B. The organization's whistleblowing strategy
C. The organization's ongoing risk monitoring process
D. The organization's risk management policy
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Correct Answer: D
Question #5
Which of the following would most likely prompt special notification from the chief audit executive to senior management?
A. Operational management has decided to weigh an audit issue against the organization's risk tolerance
B. A control's inaccurate operation has materially impacted the accuracy of the prior year's financial statements
C. Occurrences of asset misappropriation have been identified as a result of an ineffective operational control design
D. The controls that management performed to confirm compliance with health and safety standards were not systematically documented
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Correct Answer: B
Question #6
During an assurance engagement on regulatory compliance, the chief audit executive contacts an external party to ascertain whether the organization had paid for its operating license. Which of the following procedures does this exemplify?
A. Independent confirmation
B. Transaction tracing
C. External benchmarking
D. Reperformance
View answer
Correct Answer: A
Question #7
The internal auditors available to perform the engagement do not have sufficient skills related to the area under review. Which of the following is an appropriate action for the chief audit executive to take?
A. Continue the engagement with the available staff, providing more hands-on supervision than usual
B. Limit the objectives and scope of the engagement to align them with the skills available among the current staff
C. Cosource the performance of the engagement using personnel in the area that will be reviewed to supplement the knowledge of the staff and complete the engagement
D. Supplement the internal auditors assigned to the engagement by bringing onto the engagement team a consultant who is independent of the area under review and has the missing expertise
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Correct Answer: D
Question #8
Which of the following statements accurately describes the Standards requirement for retaining internal audit records?
A. Retention requirements for internal audit records should be compliant with ones set for external audit records
B. Retention requirements should take into account the medium in which internal audit records are stored
C. Retention requirements should be set by the chief audit executive and aligned with the organization's policies and procedures
D. Retention requirements should set a minimum period of time for records storage and the process of archiving documents
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Correct Answer: C
Question #9
An internal auditor develops an engagement observation related to an organization's accumulation of largetravel advances. The auditor observes that the organization's procedures do not require justification for travel advances greater than specific amount. Which of the following best describes the organization's procedures?
A. A criterion of the organization's accumulation of large travel advances
B. A condition of the organization's accumulation of large travel advances
C. A consequence of the organization's accumulation of large travel advances
D. A cause of the organization's accumulation of large travel advances
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Correct Answer: B
Question #10
Besides a chief audit executive's professional experience, what determines the frequency and approach to assessing residual risk?
A. The frequency of executing the internal audit engagements
B. The frequency of changes in the organization's environment
C. The expectations set by the board and senior management
D. The expectations set by operating management and senior management
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Correct Answer: B
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