IIA-CIA-Part1: Certified Internal Auditor - Part 1 The Internal Audit Activity's Role in Governance Risk and Control Engagement Practice Questions
The free IIA-CIA-Part1: Certified Internal Auditor - Part 1 The Internal Audit Activity's Role in Governance Risk and Control questions that deal with engagement, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #2
According to IIA guidance, which of the following are considerations of due professional care when an internal auditor conducts a formal consulting engagement? * 1. The complexity of the work required. * 2. The needs and expectations of the client. * 3. The potential value of the engagement compared to the effort. * 4. Information regarding assumptions and procedures to be employed.
Correct answer: C
Explanation
Due professional care in consulting considers the needs and expectations of clients, the relative complexity and extent of work needed, and the cost of the engagement against its potential benefits. Communicating assumptions and procedures is a communication requirement, not a due care consideration.
Question #8
Reviewing prior audit reports and supporting workpapers before an engagement starts enables an internal auditor to do which of the following? * 1. To understand better the activity and processes that will be audited. * 2. To identify the audit procedures that will be used during the engagement. * 3. To ensure that matters of greatest vulnerability will be addressed. * 4. To use the information obtained as evidence in the current engagement.
Correct answer: B
Explanation
Prior reports and workpapers give background on the activity and highlight areas of greatest vulnerability. They cannot dictate the current program's procedures and, being from a prior period, are not evidence for the current engagement.
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