IQN QIA Qualified Internal Auditor Exam Practice Test

Indicate another sample is needed.

Prove there are no errors in accounts payable.

Indicate the null hypothesis is false.

Fail to prove the error rate is above 0.5%.

Comparing the items on the schedule with the accounts payable ledger or unpaid voucher file.

Comparing the balance on the schedule with the balances of prior years.

Comparing confirmations received from selected creditors with the accounts payable ledger.

Examining vendors' invoices in support of selected items on the schedule.

Imposition of corrective measures.

Participation with auditees to improve methods.

Fraud investigation.

Implementation of policies and procedures.

Design the controls.

Appraise the effectiveness of the controls.

Establish the policies for controls.

Create the procedures for the planning process.

The supplier maintained prices in the short run but later returned to a pattern of increasing prices.

The supplier decided to stop providing the direct materials to the manufacturing company, since holding the line on prices would have a negative impact.

The supplier maintained prices but substituted a lower grade of direct materials.

The supplier worked through the president of the manufacturing company to force the purchasing manager to cancel the mandate.

The auditor notes strong indicators of a specific fraud involving this account.

The company has relatively stable operations that have not changed much over the past year.

The auditor would like to identify large, unusual, or nonrecurring transactions during the year.

The operating expenses vary in relation to other operating expenses, but not in relation to revenue.

Stop-and-go sampling.

Discovery sampling.

Variables sampling.

Attributes sampling.

Examining financial and operating information

Review of the economy, efficiency and effectiveness of operations

Review of compliance with laws, regulations and other external requirements

Confirming that the final result (the sum) is correct

The majority of travel advances in theorganizationexceed the prescribed maximum.

Travel advances are not controlled in accordance with existing policy.

The prescribed maximum travel advance is too low.

76% of all travel advances exceed the management prescribed maximum.

The incidence of fraud of a material amount has been established to a reasonable certainty.

Suspicious activities have been reported to internal auditing.

Irregular transactions have been identified and are under investigation.

The review of all suspected fraud related transactions is complete.

Standard error of the mean.

Non-sampling error.

Achieved precision.

Point estimate of the arithmetic mean.

Interviews

Questionnaires

Forensic analysis

Computer