IIA IIA Certifications IIA-CGAP Questions & Answers

• Question 301:

  The development and issuance of the Standards is an ongoing process. Which board engages in extensive consultation and discussion prior to the issuance of the Standards?

  A. Advisory board

  B. Quasi-Judicial Boards

  C. The Internal Auditing Standards Board

  D. The external auditing boards

  Correct Answer: C

• Question 302:

  Although some Practice Advisories may be applicable to all internal auditors, others may be developed to meet the needs of a _______, a __________, or _________, including guidance on topics such as environmental issues, control self- assessment, information technology, government auditing, and guidance issued by other standard setting bodies and adopted by ______________.

  A. Specific audit specialty, Specific geographic area, Specific industry, committees of The IIA

  B. Specific industry, Specific geographic area, committees of The IIA, Specific audit specialty

  C. Specific industry, Specific audit specialty, committees of The IIA, Specific geographic area.

  D. Specific industry, Specific audit specialty, Specific geographic area, committees of The IIA.

  Correct Answer: D

• Question 303:

  Which of the following Advisories are submitted to a formal review process by The IIAs Professional Issues Committee or other group designated by the Guidance Planning committee?

  A. Hurricane Advisories

  B. Product and services security Advisories

  C. Practice Advisories

  D. Security Advisories

  Correct Answer: C

• Question 304:

  As a part of the development of the Professional Practices Framework, significant portions of the information contained in the __________ Guidelines have been converted to Practice Advisories. Omnibus Practice Advisories ___________ are based on information previously published in the ________ but have been updated to be consistent with the new Standards and the Professional Practices Framework:

  A. "Yellow Book", 100-1 through 3600-1, "Red Book"

  B. "Red Book", 1000-1 through 2600-1, "Red Book"

  C. "Black Book", 2000-1 through 2600-1, "Red Book"

  D. "Blue Book", 1000-1 through 600-1, "Red Book"

  Correct Answer: B

• Question 305:

  The Standards consist of Attribute Standards, Performance Standards and Implementation standards. The __________ address the characteristics of organizations and parties performing internal audit activities. The _________ describe the nature of internal audit activities and provide quality criteria against which the performance of these services can be evaluated. While the Attribute and Performance Standards apply to all internal audit services, the ________ apply to specific types of engagements.

  A. Implementation Standards, Attribute Standards, Performance Standards

  B. Attribute Standards, Implementation Standards, Performance Standards

  C. Attribute Standards, Performance Standards, Implementation Standards

  D. Performance Standards, Implementation Standards, Attribute Standards

  Correct Answer: C

• Question 306:

  There is ________ of Attribute and Performance Standards; however, there are _______of implementation Standards: a set for each of the major types of internal audit activity. The __________ have been established for assurance (A) and consulting (C) activities:

  A. One set, multiple sets, Attribution Standards

  B. One set, multiple sets, Implementation Standards

  C. One set, multiple sets, Performance Standards

  D. One set, multiple sets, Multiple Standards

  Correct Answer: B

• Question 307:

  Assurance services involve the internal auditor's objective assessment of evidence to provide an independent opinion or conclusions regarding a process, system, or other subject matter. All of the following are the parties generally involved in assurance services EXCEPT:

  A. The team leader

  B. The person or group making the assessment ?the internal auditor

  C. The person or group directly involved with the process, system, or other subject matter the process owner.

  D. The person or group using the assessment ?the user.

  Correct Answer: A

• Question 308:

  Which services are advisory in nature, and are generally performed at the specific request of an engagement client and also the nature and scope of which services are subject to agreement with the engagement client?

  A. Auditing services

  B. Consulting services

  C. Assurance services

  D. Accounting services

  Correct Answer: B

• Question 309:

  All of the following are the components of the Professional Practices Framework which was approved by the IIAs Board of Directors in June 1999 EXCEPT:

  A. Definition of Internal Auditing and Standards

  B. Mandatory Guidance

  C. Code of Ethics (See Section I.D) and Practice Advisories

  D. Development and Practice Aids

  Correct Answer: B

• Question 310:

  Which services involve the internal auditor's objective assessment of evidence to provide an independent opinion or conclusions regarding a process, system, or other subject matter?

  A. Accounting services

  B. Auditing services

  C. Assurance services

  D. Insurance services

  Correct Answer: C