IIA CPEA Exam Practice Test Instant Access

Question 1

Most in-house audits should be conducted by:

AOutside third party consultants

BCustomer auditors

CCompany auditors from the audited departments

DIndependent company auditors

Answer : D

Question 2

Which one of the following meetings is considered as a 'meeting of directors or management?

AGeneral meeting

BExtra ordinary general meeting

CBoard meeting

DManagement meeting

Answer : C

Question 3

Analytical procedures used in planning an audit should focus on identifying which one of the followings?

AAreas that may represent specific risks relevant to the audit

BMaterial weaknesses in the internal control structure

CThe predictability of financial data form individual transactions

DThe various assertions that are embodied in the financial report

Answer : C

Question 4

Which one of the following is the source document for staff salaries?

AApproved payrolls

BVouchers

CAccounting statements

DCash memos

Answer : A

Question 5

While considering internal control system of an entity, the auditor is basically concerned that the system provides reasonable assurance about which one of the following?

AThat the management cannot override the system

BOperational efficiency has been achieved according to management plans

CErrors have been prevented or detected

DControls have not been circumvented by collusion

Answer : C

Question 6

The audit which is a review of any part of an entity's operating procedures and methods is known as:

AFinancial statement audits

BOperational audits

CTechnical Audits

DCompliance audits

Answer : B

Question 7

Which one of the following is NOT a factor included in the control environment of an entity?

AIntegrity and ethical values

BRisk assessment

CCommitment to competence

DOrganization structure

Answer : D

IIA Certified Professional Environmental Auditor Exam Practice Test