IIA-CIA-PART2 Exam Dumps [Update] Most Useful IIA-CIA-PART2 Online Resource

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What do you need to know about the IIA-CIA-PART2 exam?

Vendor: IIA
Certifications: Certified Internal
Exam Code: IIA-CIA-PART2
Exam Name: Certified Internal Auditor – Part 2, Conducting the Internal Audit Engagement

The IIA-CIA-PART 2 exam mainly tests candidates’ knowledge, skills, and competencies related to performance standards (2000, 2200, 2300, 2400, 2500, and 2600 series) and current internal audit practices.

Of particular note:

1. More in line with the IIA’s performance standards.
2. Attention needs to be paid to the responsibility of the Chief Auditor to assess residual risk and communicate risk acceptance.
3. Spend more time on “fulfilling the agreement”, which accounts for 40% of the exam.
4. Proficiency in both the basic understanding of concepts and their knowledge, skills, and abilities. Be comprehensive.

Do you want additional resources for the Certified Internal Auditor – Part 2, Conducting the Internal Audit Engagement exam?

• Current resources on internal auditing and relevant topics
• New Auditor’s Guide to Internal Auditing, by Bruce Turner
• Data Analysis and Sampling Simplified: A Practical Guide for Internal Auditors, by Donald Dickie
• Ready and Relevant: Prepare to Audit What Matters Most, by Timothy Berichten

Of course, these are definitely not all, and the rest are welcome to add and learn together.

What are the benefits and processes of Certified Internal certification?

The purpose of the IIA-CIA-PART2 exam you want to pass is also to obtain the Certified Internal certification, so let’s briefly talk about this certification.

Certified Internal Auditor is a global benchmark for professional internal auditors. Get it and you will have a full life.

You need to complete three parts of the study:

Part 1: Essentials of Internal Auditing

Part 2: Practice of Internal Auditing

Part 3: Business Knowledge for Internal Auditing

Certified Internal exams:

IIA-CIA-PART4: Certified Internal Auditor – Part 4, Business
IIA-CIA-PART3: Certified Internal Auditor – Part 3 study guide with
IIA-CIA-PART2: Certified Internal Auditor – Part 2, Conducting the Internal Audit Engagement
IIA-CIA-PART1: Certified Internal Auditor – Part 1, The Internal Audit Activity’s Role in Governance, Risk, and Control

The exams you need to pass to gain Certified Internal certification are listed here. Build up your strength, let’s go through the barrier.

Where can I find free IIA-CIA-PART2 exam dumps online resources?

Going back to the IIA-CIA-PART2 exam, I thought about it, you need a free dump to practice, after all, practice is the first priority:

QUESTION 1

Which of the following tasks would be considered unusual for planning a control self-assessment workshop?

A. Conducting interviews to identify relevant issues for the discussion.
B. Identifying key stakeholders and ensuring they are represented in the group.
C. Securing an external subject matter expert to arbitrate disputes.
D. Ensuring that managers are willing to accept constructive criticism.

Correct Answer: C

QUESTION 2

A chief audit executive\\’s report to the board showed a significant trend of recent audits going over planned budgeted hours. Which of the following factors could cause this trend?

A. Poor engagement supervision.
B. Ineffective board reporting.
C. Untimely observation follow-up and closure.
D. Limited staff resources.

Correct Answer: B

QUESTION 3

An internal auditor is conducting tests to determine if an organization is in compliance with its payment approval
policies. After reviewing a sample of vouchers selected, the internal auditor concluded that there were indicators of
fraud. Which of the following would be the most appropriate method to expand the audit test to achieve the audit
objective?

I. Validate the completeness of the accounts payable files.
II. Examine the sample of vouchers in greater detail.
III. Increase the number of vouchers in the sample.
IV. Broaden the scope of the examination to include credits received by accounts payable.

A. I and II only
B. II and III only
C. I, II, and IV only
D. I, III, and IV only

Correct Answer: B

QUESTION 4

The internal audit activity of an investment company received a request to provide assurance on the risk management
process. Preliminary discussion with senior management revealed that separate functions within the organization
perform some form of risk management activities.

Which of the following is the most effective tool for ensuring that risk management activities are coordinated among these functions?

A. Delphi technique.
B. Assurance map.
C. Facilitated workshop.
D. Analytical reviews.

Correct Answer: B

QUESTION 5

According to the Standards, which of the following is applicable to the internal audit activity\’s quality assurance and
improvement program?

A. Periodic monitoring of the internal audit activity should be done.
B. All aspects of the internal audit activity should be evaluated.
C. An external assessment should be obtained every three years.
D. The review of assurance services should be the primary focus.

Correct Answer: B

QUESTION 6

When establishing a quality assurance and improvement program, the chief audit executive should ensure the program
is designed to accomplish which of the following objectives?

1. Add value.
2. Improve operations.
3. Provide assurance that the internal audit activity conforms with the Standards.
4. Provide assurance that the internal audit activity conforms with the IIA Code of Ethics.

A. 1 only
B. 1 and 2 only
C. 1 and 3 only
D. 1, 2, 3, and 4

Correct Answer: D

QUESTION 7

Which of the following should management action plans include at a minimum?

A. An implementer for the action plan.
B. An owner of the action plan.
C. The internal auditor\’s next review date of the action plan.
D. Detailed procedures for the action plan.

Correct Answer: C

QUESTION 8

Informing a team to investigate an organization\’s potential adoption of an activity-based costing system, the best
reason to include an internal auditor on the team would be the auditor\’s knowledge of:

A. Activities and cost drivers.
B. Information processing procedures.
C. Current product cost structures.
D. Internal control alternatives.

Correct Answer: D

QUESTION 9

An internal auditor is assessing the organization\\’s risk management framework. Which of the following formulas should he use to calculate the residual risk?

A. Option A
B. Option B
C. Option C
D. Option D

Correct Answer: B

QUESTION 10

An internal auditor tested whether purchase orders were supported by appropriately approved purchase requisitions.
She sampled a population of purchase documents and identified instances where purchase requisitions were missing.
However, she did not notice that in some cases purchase requisitions were approved by an unauthorized person. Which
of the following risks most appropriately describes this situation?

A. Nonsampling risk.
B. Sampling risk.
C. Inherent risk.
D. Due diligence risk.

Correct Answer: B

QUESTION 11

The following is an excerpt from an audit engagement wallpaper: A Company Accounts Receivable Date
Objective. To determine if the computer system is correctly recording all accounts receivable transactions.
Procedures: Judgmental selection of a sample of all accounts receivable balances greater than $50,000 for positive
confirmation of balances.

Conclusion: Based on the results of testing wherein all but three confirmations were returned, the accounts receivable
balance is fairly presented in all material respects. Which of the following is true regarding the workpaper?

A. It is not appropriate to judgmentally select a sample when testing accounts receivable.
B. A conclusion should be reached only for the results of overall testing, not for individual procedures.
C. The audit procedures used are not consistent with the audit objective.
D. The format of the workpaper does not conform to the standard format for workpapers.

Correct Answer: C

QUESTION 12

The most effective method of reporting engagement results to management and stimulating action is to:

A. Deliver a lecture on the engagement results.
B. Limit verbal commentary and present a series of slides that graphically depict the engagement results.
C. Use slides to support a discussion of major points.
D. Distribute copies of the report, ask the participants to read the report and ask for questions.

Correct Answer: C

QUESTION 13

According to the Standards, which of the following best describes what must be agreed upon to establish an
understanding with clients prior to starting a consulting engagement?

A. The engagement objectives, access to clients’ records, and expectations.
B. The engagement objectives, scope, and time frame to complete the engagement.
C. The engagement scope, opportunities for making significant improvements, and client expectations.
D. The engagement objectives, scope, respective responsibilities, and other client expectations.
Correct Answer: D

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