Certified Internal Auditor Certified Internal Auditor 4

Question 1

An internal auditor discovers during fieldwork that the scope of the engagement must be expanded due to newly identified risks. The auditor should:

Accepted Answer

Discuss the scope expansion with the CAE and communicate changes to management

Answer

Scope changes require discussion with the CAE and communication to management to ensure appropriate resources and approvals are obtained.

Question 2

Which of the following BEST describes a 'key risk indicator' (KRI)?

Accepted Answer

A forward-looking metric that provides early warning of increasing risk exposure

Answer

KRIs are forward-looking metrics used to signal rising risk levels before they materialize into losses or control failures.

Question 3

Under the IIA Standards, internal auditors must disclose all material facts known to them that, if not disclosed, would distort the report. This is an element of which attribute?

Accepted Answer

Objectivity

Answer

Objectivity requires internal auditors to disclose all material facts to prevent reports from being misleading or incomplete.

Question 4

An auditor testing IT controls discovers that application access logs are not reviewed regularly. This finding BEST relates to which type of IT control weakness?

Accepted Answer

Monitoring control

Answer

Failure to regularly review access logs is a weakness in monitoring controls, which are designed to detect inappropriate or unauthorized activity.

Question 5

Which engagement planning step requires the auditor to obtain background information about the processes and risks of the area under review?

Accepted Answer

Preliminary survey

Answer

A preliminary survey gathers background information about the auditable unit to help the auditor understand risks and focus the engagement.

Certified Internal Auditor Practice Test

Certified Internal Auditor Practice Test

Certified Internal Auditor Certified Internal Auditor 4