NEW IIA-CIA-PART2 DUMPS BOOK & HOTTEST IIA-CIA-PART2 CERTIFICATION

New IIA-CIA-Part2 Dumps Book & Hottest IIA-CIA-Part2 Certification

New IIA-CIA-Part2 Dumps Book & Hottest IIA-CIA-Part2 Certification

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IIA-CIA-Part2 Exam is the second part of the Certified Internal Auditor (CIA) designation, which is globally recognized as the standard for excellence in the internal auditing profession. IIA-CIA-Part2 Exam consists of 100 multiple-choice questions and is timed for two and a half hours. Candidates who pass the exam earn the CIA designation and are recognized as experts in the field of internal auditing.

What are the requirements to take an IIA CIA Part 2 Exam?

To take the IIA CIA Part 2 Exam, you must:

  • Apply for and obtain endorsement from your local IIA Institute chapter.

  • Pass the required certification exam(s).

  • Have a bachelor's degree or greater from an accredited institution OR have three years (36 months) of professional business experience in internal auditing. You can also qualify for one of the IIA certifications if you're a member of a partner association.

  • Be able to complete the certification application and attest to your eligibility requirements.

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IIA-CIA-Part2: Practice of Internal Auditing exam is an essential certification for individuals seeking a career in internal auditing. IIA-CIA-Part2 Exam covers a wide range of topics related to internal auditing and tests the candidate's ability to apply their knowledge and skills in real-world situations. Passing the exam is a significant achievement and demonstrates the candidate's competence and expertise in the practice of internal auditing.

IIA Practice of Internal Auditing Sample Questions (Q297-Q302):

NEW QUESTION # 297
An internal auditor was assigned to review controls in the accounts payable function. Most of tie accounts payable processes are performed by a third-party service provider. The auditor included in the audit report a number of control deficiencies involving processes performed by the service provider. The service provider requested a copy of the report Which of Vie following would be the most appropriate response from the chief audit executive (CAE)?

  • A. The CAE would automatically sand a copy of the report to the service provider as many of the findings relate to Via area managed by the service provider
  • B. The CAE may distribute the report to tie service provider at no cost, after consulting with legal counsel and tie chief compliance officer
  • C. The CAE may provide a copy of the audit report to the service provider If an agreement & signed and the service provider agrees to reimburse the cost of the audit

Answer: A

Explanation:
D, The CAE should benchmark with other organization in the industry by consorting with colleagues and distribute the report only I it is an acceptable practice m the industry


NEW QUESTION # 298
Which of the following is an appropriate documentation of proper engagement supervision?

  • A. A completed engagement workpaper review checklist.
  • B. The supervisor's review notes on engagement workpapers.
  • C. The email exchanges between the audit team and the supervisor.
  • D. A supervisor's approval of resources allocated to the engagement

Answer: B


NEW QUESTION # 299
An internal auditor discovered that sales contracts with business clients were not stored in the electronic document management database instead they were scanned and saved in a nonsystematic manner to server folders Which of the following would be an appropriate consequence for the internal auditor to include in the documented observation?

  • A. The document management policy requires business client data to be stored in a specific management database
  • B. All staff should be appropriately trained and required to follow the organization's established policies and procedures pertaining to document management
  • C. Sales contracts were stored improperly because the office manager was not trained to use the electronic database and prefers to avoid it
  • D. if the organization becomes subject to litigation the agreed pricing terms and conditions of the contracts may be difficult to prove

Answer: D

Explanation:
The key issue here is the risk associated with non-compliance to document management policies, particularly in terms of legal exposure. If sales contracts are not stored systematically in the electronic document management database, it can lead to difficulties in retrieving these documents, especially in the case of litigation. This can pose significant legal risks because the organization might struggle to prove the agreed pricing terms and conditions, which could potentially result in financial losses or legal penalties. The consequence highlighted in option C directly addresses this critical risk. Reference:
"Internal Auditing: Assurance & Advisory Services" (The Institute of Internal Auditors)
"Document Management in Internal Auditing: Best Practices" (The Institute of Internal Auditors)


NEW QUESTION # 300
Acceding to IIA guidance, when of the Mowing is an assurance service commonly performed by the internal audit activity?

  • A. Making recommendations regarding financial approval authority limits for the operations department
  • B. Generating expense report metrics for employees in the finance department
  • C. Proposing fine item recommendation lot the annual financial budget of the accounting department
  • D. Validating whether employees are following established policies and procedures in the procurement department

Answer: D

Explanation:
According to IIA guidance, a common assurance service performed by the internal audit activity is validating whether employees are following established policies and procedures in various departments, such as procurement. Assurance services involve assessing evidence and providing conclusions regarding the effectiveness of governance, risk management, and control processes. Ensuring compliance with established policies and procedures is a fundamental assurance activity that helps organizations maintain control and mitigate risks.
Reference:
The Institute of Internal Auditors (IIA) Standard 2130 - Control: "The internal audit activity must assist the organization in maintaining effective controls by evaluating their effectiveness and efficiency and by promoting continuous improvement." IIA Practice Guide on "Assurance Engagements"


NEW QUESTION # 301
Which of the following statements is true regarding internal auditors and other assurance providers?

  • A. Assurance providers who report to management and/or are part of management cannot provide control serf-assessments services
  • B. hours Internal auditors can rely on the work of other assurance providers only rf the other assurance providers report directly to the board
  • C. Internal auditors may rely on the work of internal compliance teams to expand their coverage of the organization without increasing direct audit
  • D. Internal auditors should always reperform and validate audit work completed by external assurance providers

Answer: C


NEW QUESTION # 302
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