[Aug 10, 2025] Latest IIA-CIA-Part2 PDF Dumps & Real Tests Free Updated Today [Q228-Q246]

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[Aug 10, 2025] Latest IIA-CIA-Part2 PDF Dumps & Real Tests Free Updated Today

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Earning the IIA-CIA-Part2 certification can open up a world of opportunities in the field of internal auditing. Practice of Internal Auditing certification demonstrates the candidate’s commitment to the profession and their ability to apply the principles of internal auditing to practical situations. It also demonstrates the candidate’s commitment to ongoing education and professional development.

NO.228 In a sampling application, the group of items about which the auditor wants to estimate some characteristic is called the:

Population.

Attribute of interest.

Sample.

Sampling unit.

NO.229 Which of the following statements is true regarding the final assurance engagement report issued to management?

Ratings are only used to assess the condition of an observation made by an internal auditor.

Audit findings may be communicated to management prior to issuance of the final approved audit report.

Communications must be relevant logical, and free from errors before they are disseminated.

The audit report must present the information in the following order (1) audit scope, (2) engagement objectives, and (3) engagement results

NO.230 An internal audit activity has to confirm the validity of the activities reported by a grantee that received a charitable contribution from the organization. Which of the following methods would best help meet this objective?

Visiting the grantee to assess whether the execution of the project was in line with the defined grant scope.

Verifying that the grantee’s final report is in line with what was depicted in the initial budget request.

Reconciling general ledger accounts used by management of the area under review for reflecting expenses on charitable contributions.

Interviewing employees of the corporate affairs department, which is responsible for charitable activities.

by a grantee that received a charitable contribution, the most effective method is to visit the grantee and directly assess whether the project execution aligns with the scope defined in the grant. This method provides firsthand evidence of the grantee’s activities and ensures that the charitable contributions are used as intended.
Detailed Explanation:
IIA Standard 2310 – Identifying Information:
This standard requires that internal auditors gather sufficient, reliable, relevant, and useful information to achieve the engagement objectives. Visiting the grantee allows auditors to observe and verify the actual execution of the project, which provides the most direct and reliable evidence.
Field Visits:
Conducting a site visit enables auditors to see the project in action, interview relevant personnel, and compare actual activities to what was promised in the grant proposal. This method helps ensure that the grantee is fulfilling its obligations and that the organization’s charitable funds are being used effectively.
Direct Evidence:
Direct observation of the grantee’s activities provides the highest level of assurance regarding the validity of the reported activities. This aligns with IIA’s emphasis on obtaining the best available evidence to support audit findings.
Why Not Other Options?
Option B (Verifying final report vs. initial budget): This only compares reports, which might not accurately reflect the actual activities conducted by the grantee.
Option C (Reconciling general ledger accounts): This focuses on financial records, which may not provide sufficient detail about the actual activities conducted.
Option D (Interviewing corporate affairs employees): While informative, this method only provides secondhand information and does not directly verify the grantee’s activities.
Conclusion: Option A is correct because visiting the grantee provides the most reliable and direct evidence that the activities are in line with the grant’s defined scope, ensuring the validity of the grantee’s reported activities.

NO.231 Which of the following statements about internal audit’s follow-up process is true?

The nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.

The actions of external auditors and other external assurance providers is not encompassed by internal audit’s follow-up process.

Internal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.

The follow-up process must be complete and documented in the working papers in order to conclude the engagement.

NO.232 Which of the following documents should the chief audit executive review and approve?
1. Workpaper retention policy.
2. Audit committee meeting minutes.
3. Internal audit handbook.
4. Quarterly financial statements.

1 and 2 only

1 and 3 only

2 and 4 only

1, 3, and 4 only

NO.233 According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?

Degree of effort and cost needed to correct the reported condition.

Complexity of the corrective action.

Impact that may result should the corrective action fail.

Amount of resources required to conduct the follow-up activities.

NO.234 The final internal audit report should be distributed to which of the following individuals?

Audit client management only

Executive management only

Audit client management, executive management, and others approved by the chief audit executive.

Audit client management, executive management, and any those who request a copy.

NO.235 According to IIA guidance, which of the following is a limitation of a heat map?

Impact cannot be represented on a heat map unless it is quantified in financial terms.

Impact and likelihood at times cannot be differentiated as to which is more important.

A heat map cannot be used unless a risk and control matrix has been developed.

Qualitative factors cannot be incorporated into a heat map.

NO.236 During an assurance engagement, an internal auditor discovered that a sales manager approved numerous sales contracts for values exceeding his authorization limit. The auditor reported the finding to the audit supervisor, noting that the sales manager had additional new contracts under negotiation. According to IIA guidance, which of the following would be the most appropriate next step?

The audit supervisor should include the new contracts in the finding for the final audit report.

The audit supervisor should communicate the finding to the supervisor of the sales manager through an interim report.

The audit supervisor should remind the sales manager of his authority limit for the contracts under negotiation.

The auditor should not reference the new contracts, because they are not yet signed and therefore cannot be included in the final report.

NO.237 The most common motivation for management fraud is the existence of:

Vices, such as a gambling habit.

Job dissatisfaction.

Financial pressures on the organization.

The challenge of committing the perfect crime.

NO.238 According to IIA guidance, which of the following is least likely to be a key financial control in an organization’s accounts payable process?

Require the approval of additions and changes to the vendor master listing, where the inherent risk of false vendors is high.

Monitor amounts paid each period and compare them to the budget to identify potential issues.

Compare employee addresses to vendor addresses to identify potential employee fraud.

Monitor customer quality complaints compared to the prior period to identify vendor issues.

NO.239 Which of the following is typically not a reason for committing financial statement fraud?

To dispel negative market perception.

To disguise a duplicate payment to a vendor.

To obtain more favorable terms on financing.

To receive performance-related bonuses.

NO.240 Which of the following is the primary purpose of financial statement audit engagements?

To assess the efficiency and effectiveness of the accounting department.

To evaluate organizational and departmental structures, including assessments of process flows related to financial matters.

To provide a review of routine financial reports, including analyses of selected accounts for compliance with generally accepted accounting principles.

To provide an analysis of business process controls in the accounting department, including tests of compliance with internal policies and procedures.

NO.241 According to IIA guidance which of the following statements is true regarding heat maps?

A heat map sets likelihood to have higher priority than impact.

A heat map sets impact to have higher priority than likelihood.

A heat map recognizes that the priority of impact and likelihood can vary.

A heat map recognizes impact and likelihood as equally important

NO.242 Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?

To evaluate controls regarding the computer security of an oil refinery.

To examine the processes involved in exploring, developing, and operating a gold mine.

To assess the likelihood and impact of events associated with operating a finished goods warehouse.

To link a financial institution’s business objectives to a work unit responsible for the associated risk.

NO.243 An internal auditor is assigned to conduct an audit of security for a local area network (LAN) in the finance department of the organization. Investment decisions, including the use of hedging strategies and financial derivatives, use data and financial models which run on the LAN. The LAN is also used to download data from the mainframe to assist in decisions. Which of the following should be considered outside the scope of this security audit engagement?

Investigation of the physical security over access to the components of the LAN.

The ability of the LAN application to identify data items at the field or record level and implement user access security at that level.

Interviews with users to determine their assessment of the level of security in the system and the vulnerability of the system to compromise.

The level of security of other LANs in the company which also utilize sensitive data.

NO.244 Which of the following statements is false regarding audit criteria?

Audit criteria should be consistent across audit assignments.

Audit criteria should represent reasonable standards against which to assess existing conditions.

Audit criteria should provide flexibility but allow identification of nonadherence.

Audit criteria should equate to good or acceptable management practices.

NO.245 Which of the following best describes the four components of a balanced scorecard?

Customers, innovation, growth, and internal processes.

Business objectives, critical success factors, innovation, and growth.

Customers, support, critical success factors, and learning.

Financial measures, learning and growth, customers, and internal processes.

NO.246 The human resources (HR) department was last reviewed three years ago and is due for an assurance engagement after undergoing recent process changes. Which of the following would the most effective option identify the HR department’s risks and controls?

Meet with the chief operating officer 10 obtain Information about the MR department

Review the previous internal audit report and locus on key audit observations and action plans

Review the organization’s risk strategy and risk appetite framework

Discuss the department’s present strategies ‘and objectives with the head of the HR department

IIA-CIA-Part2 Exam is a comprehensive test of a candidate’s knowledge and skills in internal auditing. Passing the exam is a crucial step towards obtaining the CIA certification and advancing in the field. With proper preparation and study materials, candidates can successfully pass the exam and demonstrate their commitment and expertise in internal auditing.

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