IIA-CIA-Part3-3P Dumps - Grab Out For [NEW-2023] IIA Exam
IIA-CIA-Part3-3P Exam Dumps PDF Guaranteed Success with Accurate & Updated Questions
IIA-CIA-Part3-3P exam is a crucial step in the CIA certification program, and passing it demonstrates the candidate's knowledge and expertise in business processes, risk management, and governance. Candidates who pass IIA-CIA-Part3-3P exam are well-equipped to handle complex internal audit engagements and provide valuable insights to their organizations.
IIA-CIA-Part3-3P exam is essential for individuals seeking to attain the Certified Internal Auditor certification. IIA-CIA-Part3-3P exam tests the candidate's understanding of business acumen, risk management, governance and business ethics, and financial management, among others. It is a rigorous exam that requires extensive study, preparation, and practice, but it is an essential step towards a rewarding career in the internal audit profession.
NEW QUESTION # 52
During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of
$1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?
- A. $540,000
- B. $300,000
- C. $280,000
- D. $170,000
Answer: D
NEW QUESTION # 53
Which of the following is true regarding the COSO enterprise risk management framework?
- A. The framework facilitates effective risk management, even if objectives have not been established.
- B. Control environment is one of the framework's eight components.
- C. The framework integrates with, but is not dependent upon, the corresponding internal control framework.
- D. The framework categorizes an organization's objectives to distinct, non overlapping objectives.
Answer: C
NEW QUESTION # 54
With regard to disaster recovery planning, which of the following would most likely involve stakeholders from several departments?
- A. Determining the frequency with which backups will be performed.
- B. Assessing the resources needed to meet the data recovery objectives
- C. Prioritizing the order in which business systems would be restored.
- D. Assigning who in the IT department would be involved in the recovery procedures.
Answer: C
NEW QUESTION # 55
Which of the following is a likely result of outsourcing?
- A. Increased dependence on suppliers.
- B. Decreased focus on costs.
- C. Decreased sensitivity to government regulation.
- D. Increased importance of market strategy.
Answer: B
NEW QUESTION # 56
A manager decided to build his team's enthusiasm by giving encouraging talks about employee empowerment, hoping to change the perception that management should make all decisions in the department.
The manager is most likely trying to impact which of the following components of his team's attitude?
- A. Thinking component.
- B. Behavioral component.
- C. Cognition component.
- D. Affective component.
Answer: D
NEW QUESTION # 57
Which of me following is true of matrix organizations?
- A. A unity-of-command concept requires employees to report technically, functionally, and administratively to the same manager
- B. Authority responsibility and accountability of the units involved may vary based on the project's life, or the organization's culture
- C. A combination of product and functional departments allows management lo utilize personnel from various functions
- D. It is best suited for firms with scattered locations or for multi-lira. large-scale firms
Answer: C
NEW QUESTION # 58
Which of the following are the most common characteristics of big data?
- A. Continuity, control convenience
- B. Visibility, validity, vulnerability
- C. Complexity completeness constancy
- D. Velocity, variety volume.
Answer: D
NEW QUESTION # 59
Which of the following statements is true regarding outsourced business processes?
- A. The key controls of outsourced business processes typically are more difficult to audit because they are designed and managed externally.
- B. The system of internal controls may be better and more efficient when the business process is outsourced compared to internally sourced.
- C. Generally, independence is improved when the internal audit activity reviews outsourced business processes.
- D. Outsourced business processes should not be considered in the internal audit universe because the controls are owned by the external service provider.
Answer: B
NEW QUESTION # 60
Which of the following are the most appropriate measures for evaluating the change in an organization's liquidity position?
- A. Accounts receivable turnover, return on assets, and the current ratio.
- B. Times interest earned, return on assets, and inventory turnover.
- C. Accounts receivable turnover, inventory turnover in days, and the current ratio.
- D. Inventory turnover in days, the current ratio, and return on equity.
Answer: C
NEW QUESTION # 61
Which of the following are typical audit considerations for a review of authentication?
1) Authentication policies and evaluation of controls transactions.
2) Management of passwords, independent reconciliation, and audit trail.
3) Control self-assessment tools used by management.
4) Independent verification of data integrity and accuracy.
- A. 1, 3, and 4
- B. 1, 2, and 4
- C. 1, 2, and 3
- D. 2, 3, and 4
Answer: C
NEW QUESTION # 62
Which of me Wowing summarizes information about the cash receipts and cash payments for a specific time period?
- A. Balance sheet
- B. Statement of cash flows.
- C. Owner's equity statement
- D. Income statement
Answer: B
NEW QUESTION # 63
Which of the following factors is most likely to lead to a lack of cohesiveness in a project team?
- A. Small size.
- B. Prestige
- C. Competition
- D. Common threat
Answer: C
NEW QUESTION # 64
Which of the following should internal auditors be attentive of when reviewing personal data consent and opt-in/opt-out management process?
- A. Whether customers are asked to renew their consent for their data processing at least quarterly.
- B. Whether customers have an opportunity to opt-out the right to be forgotten from organizational records and systems.
- C. Whether the organization has established explicit and entitywide policies on data transfer to third parties.
- D. Whether private data is processed in accordance with the purpose for which the consent was obtained.
Answer: D
NEW QUESTION # 65
An organization requires an average of 58 days to convert raw materials into finished products to sell. An average of 42 additional days is required to collect receivables. If the organization takes an average of 10 days to pay for the raw materials, how long is its total cash conversion cycle?
- A. 26 days.
- B. 100 days.
- C. 110 days.
- D. 90 days.
Answer: D
NEW QUESTION # 66
Which of the following would be a risk in the development of end-user computing (EUC) applications, compared to traditional information systems?
- A. The organization may incur higher application development and maintenance costs for EUC systems.
- B. Management might place the same degree of reliance in reports produced by EUC applications as it does in reports produced under traditional systems development procedures.
- C. Since development time is typically longer for EUC applications, management may not be able to respond quickly to competitive pressures
- D. Management may not be able to make quick and accurate decisions due to a diminished capacity to respond to managerial requests for computerized information
Answer: B
NEW QUESTION # 67
Which of the following devices best controls both physical and logical access to information systems?
- A. Identification card.
- B. Electromechanical lock.
- C. Plenum.
- D. Biometric lock.
Answer: D
NEW QUESTION # 68
Which of the following methods is most closely associated to year over year trends?
- A. Ratio analysis
- B. Common-size analysis
- C. Vertical analysis
- D. Horizontal analysis
Answer: D
NEW QUESTION # 69
During which of the following phases of contracting does the organization analyze whether the market is aligned with organizational objectives?
- A. Bidding phase.
- B. Development phase.
- C. Negotiation phase
- D. Initiation phase.
Answer: B
NEW QUESTION # 70
An organization is experiencing a high turnover. Which of the following can human resources deploy to effectively detect the root cause of turnover?
- A. Ensure mandatory vacations
- B. Require regular performance appraisals
- C. Perform exit interviews
- D. Encourage periodic rotation of employee duties.
Answer: C
NEW QUESTION # 71
The management of working capital is most crucial for which of the following aspects of business?
- A. Efficiency.
- B. Solvency.
- C. Liquidity.
- D. Profitability.
Answer: A
NEW QUESTION # 72
At what stage of project integration management would a project manager and project management team typically coordinate the various technical and organizational interfaces that exist in the project?
- A. Project plan execution.
- B. Project plan development.
- C. Integrated change control.
- D. Project quality planning.
Answer: B
NEW QUESTION # 73
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