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100% Pass Quiz 2025 IIA Trustable IIA-CIA-Part2: New Practice of Internal Auditing Test Labs

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Are you planning to attempt the IIA IIA-CIA-Part2 certification exam and don't know where to study for it and pass it with good marks? VCE4Plus has designed the Practice of Internal Auditing (IIA-CIA-Part2) Questions, especially for the students who want to pass the IIA-CIA-Part2 Certification Exam with good marks in a short time. These Practice of Internal Auditing (IIA-CIA-Part2) practice test questions are available in three different formats that you can carry with you anywhere and even do preparation in extra or free time with ease.

IIA-CIA-Part2 Exam, also known as the Practice of Internal Auditing, is one of the three exams required to become a Certified Internal Auditor (CIA). IIA-CIA-Part2 Exam covers a range of topics related to internal auditing, including governance and risk management, communication skills, and business processes. It is designed to test the candidate's knowledge of the principles, practices, and standards of internal auditing.

>> New IIA-CIA-Part2 Test Labs <<

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IIA-CIA-Part2 certification exam, commonly referred to as the Practice of Internal Auditing, is an internationally recognized certification exam that is designed to test the knowledge and skills of internal auditors. IIA-CIA-Part2 exam is developed and administered by the Institute of Internal Auditors (IIA), which is a global professional association for internal auditors. The IIA-CIA-Part2 Exam is one of the three exams that candidates must pass to earn the Certified Internal Auditor (CIA) designation.

IIA Practice of Internal Auditing Sample Questions (Q221-Q226):

NEW QUESTION # 221
Due to price risk from the foreign currency purchase of aviation fuel, an airliner has purchased forward contracts to hedge against fluctuations in the exchange rate. When recalculating the exchange losses from individual purchases of jet fuel, which of the following details does the internal auditor need to validate?
1. The hedge documentation designating the hedge.
2. The spot exchange rate on the transaction date.
3. The terms of the forward contract.
4. The amount of fuel purchased.

A. 1 and 4
B. 3 and 4
C. 2 and 3
D. 1 and 2

Answer: C

NEW QUESTION # 222
Recommendations should be included in the audit report in order to:

A. Minimize the amount of time required to correct audit findings.
B. Provide management with options for addressing audit findings.
C. Ensure that audit findings are resolved in the manner suggested by the auditor.
D. Ensure that audit findings are addressed by management.

Answer: B

NEW QUESTION # 223
In which of the following situations would an internal control questionnaire best suit the internal auditor's purpose?

A. The auditor wants to receive mid-level management insight on how to improve hiring practices
B. The auditor wants to gain assurance that inventory counts are conducted in accordance with established procedures.
C. The auditor wants to obtain information on whether adherence to approval matrices is actually taking place in different maintenance units.
D. The auditor wants to assess whether different subsidiaries apply centrally established procurement rules in the same manner

Answer: D

NEW QUESTION # 224
An internal auditor reviewed bank reconciliations prepared by management of the area under review. The auditor noted that the bank statements attached did not have the bank heading, logo, or address. Which of the following statements is true regarding this situation?

A. The evidence is not relevant.
B. The information missing is not relevant to the audit.
C. The evidence may not be reliable.
D. The evidence may not be sufficient.

Answer: C

Explanation:
For audit evidence to be considered reliable, it must be accurate, truthful, and verifiable. The absence of the bank heading, logo, or address on the bank statements raises concerns about the authenticity and integrity of the documents. Without these elements, there is no assurance that the statements are legitimate and have not been tampered with or falsified. Therefore, this evidence may not be reliable for audit purposes.References:
* The Institute of Internal Auditors (IIA), International Standards for the Professional Practice of Internal Auditing (Standards)
* "Auditing: A Risk-Based Approach to Conducting a Quality Audit" by Karla M. Johnstone, Audrey A.
Gramling, Larry E. Rittenberg

NEW QUESTION # 225
Which of the following should be included in a privacy audit engagement?
1. Assess the appropriateness of the information gathered.
2. Review the methods used to collect information.
3. Consider whether the information collected is in compliance with applicable laws.
4. Determine how the information is stored.

A. 1, 2, 3, and 4
B. 1, 3, and 4 only
C. 1 and 3 only
D. 2 and 4 only

Answer: A

NEW QUESTION # 226
......

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