81616270-CIA-P1-Mock-Exam-and-Answers - CIA Preparatory...

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1 CIA Preparatory Program Part 1 The Internal Audit Activity’s Role In Governance, Risk and Control Mock Exam
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CIA Part 1 Mock Exam 2 QUESTIONS 1-100: MULTIPLE CHOICE ESTIMATED TIME: 2HR - 45 MINUTES Select a single answer that best completes the statement or answers the question. Mark your answer by blackening with a soft lead pencil the appropriate answer space on the answer sheet provided. ANSWER THE FOLLOWING: 1. Which of the following is not true with regard to the internal audit charter? a. It defines the authorities and responsibilities for the internal audit activity. b. It specifies the minimum resources needed for the internal audit activity. c. It provides a basis for evaluating the internal audit activity. d. It should be approved by senior management and the board. 2. The function of internal auditing, as related to internal financial reports, would be to: a. Ensure compliance with reporting procedures. b. Review the expenditure items and match each item with the expenses incurred. c. Determine if there are any employees expending funds without authorization. d. Identify inadequate controls that increase the likelihood of unauthorized expenditures. 3. Which of the following would be a long-range rather than a short-range planning topic? 4. The status of the internal audit activity should be free from the effects of irresponsible policy changes by management. The most effective way to assure that freedom is to: 5. As part of a company-sponsored award program, an internal auditor was offered an award of significant monetary value by a division in recognition of the cost savings that resulted from the auditor's recommendations. According to the International Professional Practices Framework (IPPF), what is the most appropriate action for the auditor to take?
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CIA Part 1 Mock Exam 3
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