2026 Latest 100% Exam Passing Ratio – IIA-CIA-Part2 Dumps PDF [Q51-Q66]

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2026 Latest 100% Exam Passing Ratio – IIA-CIA-Part2 Dumps PDF

Pass Exam With Full Sureness – IIA-CIA-Part2 Dumps with 709 Questions

Earning the IIA-CIA-Part2 certification can open up a world of opportunities in the field of internal auditing. Internal Audit Engagement 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.

Q51. According to IIA guidance, which of the following statements is false regarding a review of the controls in place to prevent fraud?

The review should focus on the efficiency of the controls in place to prevent fraud.

The scope of the review does not need to include all operating areas of the organization.

The cost of the control should be compared to the benefit of mitigating the related risk.

The review should assess whether the internal controls can be circumvented.

Q52. An engagement work program o of greatest value to audit management when which of the following is true?

The work program provides more detailed support for the audit report

The work program helps determined the required amount of audit resources

The work program helps ensure tie achievement of the engagement objectives

The work program assists the auditor n developing and managing audit tests

Q53. According to the International Professional Practices Framework, which of the following statements is true regarding the use of the statement, “Conducted in Conformance with the International Standards for the Professional Practice of Internal Auditing,” when communicating results of a seven-year-old internal audit activity?

The statement may be used only when conducting international engagements.

The statement may be used only if the results of the quality assurance and improvement program support the statement.

The statement may be used whether or not the internal audit department has an external quality assessment review or an independent validation of a self assessment.

The statement should not be used for a consulting engagement.

Q54. Which of the following audit steps would be most effective to review proper recording of and accountability over physical assets?
1. Physically inspect all assets on the organization’s property.
2. Select a sample department and physically inspect assets in the department.
3. Select a sample from the organization’s records of physical assets and physically locate each asset.
4. Identify assets at a sample of locations and trace to the organization’s records.

I only

I and IV only

II and III only

III and IV only

Q55. While reviewing the draft report of an audit engagement, the chief audit executive (CAE) is not in agreement with management’s acceptance of the potential risk exposure resulting from an observed key control weakness.
Which of the following actions by the CAE would be appropriate for addressing this concern?
* Meet with the auditor-in-charge.
* Discuss with senior management.
* Monitor the result of the accepted risk.
* Report the matter to the board.

1, 2, and 3 only

1, 2, and 4 only

1, 3, and 4 only

2, 3, and 4 only

Q56. According to the International Professional Practices Framework, which of the following is not an objective of the exit conference?

Receive client feedback and clarification.

Review audit recommendations.

Plan future engagements.

Resolve disagreements.

Q57. The chief audit executive (CAE) of a new organization is in the process of determining the
manner in which audit reports will be distributed and to whom. According to the Standards, which of the following is the most appropriate course of action for the CAE to take to develop this distribution process?

The process should be determined in meetings with the external auditor and senior management to ensure alignment with external reporting.

The CAE should meet with senior management for their input, but finalize the distribution of all reports with the board.

The CAE should independently implement the report distribution, using best judgment to ensure that all relevant stakeholders are informed.

The CAE should request that senior management and the board meet to determine the most appropriate reporting method.

Q58. The internal audit activity plans to assess the effectiveness of management’s self-assessment activities regarding the risk management process. Which of the following procedures would be most appropriate to accomplish this objective?

Review corporate policies and board minutes for examples of risk discussions.

Conduct interviews with line and senior management on current practices.

Research and review relevant industry information concerning key risks.

Observe and test control and monitoring procedures and related reporting.

Q59. In reviewing the appropriateness of the minimum quantity level of inventory established by a department, an auditor would be least likely to consider:

Stockout costs, including lost customers.

Seasonal variations in forecasting inventory demand.

Optimal order sizes determined by an economic order quantity model.

The potential for obsolescence of inventory items.

Q60. In advance of a preliminary survey, a chief audit executive sends a memorandum and questionnaire to the supervisors of the department to be audited. What is the most likely result of that procedure?

It creates apprehension about the audit engagement.

It involves the engagement client’s supervisory personnel in the audit.

It is an uneconomical approach to obtaining information.

It is only useful for audits of distant locations.

Q61. 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.

Q62. According to MA guidance, which of the following factors should an internal auditor consider when assessing the likelihood of fraud risk1?

The effect on the organization’s reputation

Any potential damage to the organization’s relationship with customers.

Past fraud allegations and actual occurrences

The potential and realized financial impacts

Q63. According to IIA guidance, which of the following activities is most likely to enhance stakeholders’ perception of the value the internal audit activity (IAA) adds to the organization?
1. The IAA uses computer-assisted audit techniques and IT applications.
2. The IAA uses a consistent risk-based approach in both its planning and engagement execution.
3. The IAA demonstrates the ability to build strong and constructive relationships with audit clients.
4. The IAA frequently is involved in various project teams and task forces in an advisory capacity.

1 and 2

1 and 3

2 and 4

3 and 4

Q64. Which of the following data collection strategies systematically tests the effects of various factors on an outcome?

Content analysis.

Sampling.

Evaluation synthesis.

Modeling.

Q65. Which of the following statements is true regarding a drawback of using internal control questionnaires (ICQs)?

When internal auditors need to cover many control procedures using ICQs is generally less efficient than conducting observations and inspections

It is generally difficult for internal auditors lo compile appropriate ICQs for business activities that are governed by standardized operating procedures

ICQs are inadequate to provide effective assurance on how organizational processes are executed in practice.

It is generally difficult for internal auditors to process completed questionnaires, because ICQs frequently elicit detailed comments and long answers from management

Q66. According to IIA guidance, which of the following statements is true regarding audit workpapers?

Review notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.

Audit workpaper documentation policies are reviewed and approved by the audit committee.

Management of the department being audited should review the prepared workpapers for accuracy.

Audit workpaper preparation contributes to the professional development of the internal audit staff.

IIA-CIA-Part2 exam is recognized by the Institute of Internal Auditors (IIA), which is the leading international professional association for internal auditors. The IIA-CIA-Part2 exam is a key component of the Certified Internal Auditor (CIA) certification program. Passing IIA-CIA-Part2 exam is necessary for individuals who want to demonstrate their proficiency in internal auditing and advance their careers in this field.

Verified IIA-CIA-Part2 dumps Q&As – 100% Pass from PrepAwayPDF: https://www.prepawaypdf.com/IIA/IIA-CIA-Part2-practice-exam-dumps.html

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