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IIA-CIA-Part2 certification exam, also known as the Practice of Internal Auditing, is a globally recognized certification offered by the Institute of Internal Auditors (IIA). Practice of Internal Auditing certification is designed for internal auditors who are looking to enhance their knowledge and expertise in the field of internal auditing. IIA-CIA-Part2 exam covers a wide range of topics, including risk management, governance, fraud, and ethics, among others.
IIA-CIA-Part2 certification exam is a rigorous exam that requires a significant amount of preparation and study. However, for individuals who are committed to advancing their careers in internal auditing, this certification can be a valuable asset and can help them stand out in a competitive job market.
Preparing for the IIA-CIA-Part2 Exam requires a thorough understanding of the topics covered and a commitment to studying and practicing the skills required for success. The IIA offers a variety of resources to help candidates prepare for the exam, including study materials, practice exams, and online courses. Candidates may also choose to participate in study groups or seek the guidance of a mentor to help them prepare.
Free PDF IIA - IIA-CIA-Part2 ¨CReliable Free BraindumpsA steadily rising competition has been noted in the tech field. Countless candidates around the globe aspire to be Practice of Internal Auditing in this field. Once you become IIA certified, a whole new scope opens up to you and you are immediately hired by reputed firms. Even though the Practice of Internal Auditing certification boosts your career options, you have to pass the IIA-CIA-Part2 Exam. IIA Practice of Internal Auditing Sample Questions (Q373-Q378):NEW QUESTION # 373
Due to emerging new technologies that greatly affect the organization, the chief audit executive (CAE) wants to conduct frequent IT audit and is particularly focused on improving the quality of these engagements.
Which of the following is the most viable solution for the CAE to ensure that IT audit quality is immediately enhanced and maintained long-term?
A. Each year send a different member of the internal audit staff to an IT audit conference to learn about emerging technologies
B. Employ an independent external IT specialist to perform IT audits for the first year
C. Contract an external IT special to offer advice and consult on IT audits
D. Invite qualified staff from the IT department to serve as guest auditors and lead IT audits
Answer: D
Explanation:
To immediately enhance and maintain long-term IT audit quality, inviting qualified staff from the IT department to serve as guest auditors is a viable solution. This approach provides immediate access to IT expertise, ensuring high-quality audits. Additionally, it fosters collaboration between the IT and internal audit departments, promotes knowledge transfer, and helps build internal audit staff capabilities over time. This method is both cost-effective and sustainable, compared to contracting external specialists continuously.
The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing, Standard
1210 - Proficiency and Standard 2230 - Engagement Resource Allocation
NEW QUESTION # 374
A draft internal audit report that cites deficient conditions generally should be reviewed with which of the following groups?
1. The client manager and her superior.
2. Anyone who may object to the report's validity.
3. Anyone required to take action.
4. The same individuals who receive the final report.
A. 1 and 2 only
B. 1, 2, and 4
C. 1 only
D. 1, 2, and 3
Answer: D
Explanation:
A draft internal audit report citing deficient conditions should be reviewed with relevant stakeholders to ensure accuracy, address concerns, and plan corrective actions. This includes the client manager and her superior (Option 1) to inform them of the findings and obtain their perspective. It should also be reviewed with anyone who may object to the report's validity (Option 2) to address potential disagreements or misunderstandings early in the process. Finally, it should include anyone required to take action (Option 3) so they are aware of their responsibilities and can begin planning remediation efforts. While it may be beneficial to review with those who receive the final report (Option 4), it is not essential for the draft stage. Reference:
The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), Standard 2440 - Disseminating Results.
NEW QUESTION # 375
An internal auditor wants to assess the completeness of sales invoices issued by the organization over a period of time Providing that at the necessary data and analytics software is which of the following types of analyse would be appropriate to satisfy the auditor's objective?
A. Gap analysis
B. Payment terms analysis
C. Duplicates analysts
D. Aging analysis
Answer: A
Explanation:
A gap analysis is used to assess the completeness of sales invoices by identifying any missing records within a sequence. This technique helps in pinpointing any sales that might have been omitted or unrecorded during the invoicing process. By comparing expected sequences with actual recorded transactions, the auditor can identify discrepancies and ensure all sales are accounted for.
References:
* The Institute of Internal Auditors (IIA) Practice Guide: Data Analytics
* IIA Standard 2320 - Analysis and Evaluation
NEW QUESTION # 376
According to IIA guidance, which of the following statements is false regarding a review of the controls in place to prevent fraud?
A. The scope of the review does not need to include all operating areas of the organization.
B. The review should focus on the efficiency of the controls in place to prevent fraud.
C. The review should assess whether the internal controls can be circumvented.
D. The cost of the control should be compared to the benefit of mitigating the related risk.
Answer: B
NEW QUESTION # 377
An internal auditor is conducting an initial risk assessment of an audit area and wants to assess management's compliance with privacy laws for safeguarding customer information stored on the organization's servers.
Which course of action is appropriate for this phase of the engagement?
A. Consider the detection risk of noncompliance with the laws
B. Obtain the most current approved copies of the organization's privacy policy
C. Solicit the services of a specialist information systems auditor
D. Consult with legal counsel about new privacy laws to establish appropriate criteria
Answer: B
Explanation:
In the initial risk assessment phase, it is critical for the internal auditor to understand the current policies and procedures in place. By obtaining the most current approved copies of the organization's privacy policy, the auditor can assess whether these policies are in compliance with privacy laws and are effectively implemented. This approach provides a solid foundation for understanding the existing controls and identifying areas where there may be gaps or weaknesses. Consulting with legal counsel or a specialist can be subsequent steps if further expertise is needed, but understanding the internal policies is the primary and essential first step.
Institute of Internal Auditors (IIA), International Standards for the Professional Practice of Internal Auditing (Standards), Standard 2210 - Engagement Objectives.
NEW QUESTION # 378
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