CIA part 2 MCQ

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Overview

The aim of this test bank is to focus on[A] Section I which is the Managing the Internal Audit Activity, in particular in the following areas:Policies and Procedures for the IAAAdministrative Activities of the IIAIdentifying and Prioritizing Potential EngagementsInterpret Types of Assurance EngagementsInterpret Types of Consulting EngagementsCoordination of Internal Audit EffortsCommunicating and Reporting to Senior Management and the Board[B] Section II which is the Planning the Engagement, in particular in the following areas:Determine Engagement ObjectivesIdentify Key Risks and ControlsDetailed Risk AssessmentDetermine Engagement Procedures and Prepare Work ProgramDetermine Staff and Resources Needed[3] Section III which is the Performing the Engagement, in particular in the following areas:Gather and Examine Relevant InformationDevelop Checklists and QuestionnairesApply Sampling and Statistical Analysis TechniquesUse Computerized Audit Tools & TechniquesEvaluate EvidenceApply Analytical Approaches and Process Mapping TechniquesApply Analytical Review TechniquesPrepare Workpapers and DocumentationSummarize and Develop Engagement ConclusionsEngagement Supervision[4] Section IV which is the Communicating Results / Monitoring Progress, in particular in the following areas:Demonstrate Communication QualityPreliminary and Interim ReportingFormulate RecommendationsDescribe Audit Engagement Communication and ReportingAssessing and Reporting Residual RiskMonitoring ProgressIt is worth mentioning thatSection I - Managing the Internal Audit Activity weighs around 20% of the CIA Part 2 Exam.Section II - Planning the Engagement weighs around 20% of the CIA Part 2 Exam.Section III - Performing the Engagement weighs around 40% of the CIA Part 2 Exam.Section IV - Communicating Results / Monitoring Progress weighs around 20% of the CIA Part 2 Exam.I wish you success in your studies.Remember that practice makes perfect or at least permanent.Sincerely yours,Ahmed Samir, CIA

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