IIA IIA-CIA-Part1 CIA Exam Part One: Essentials of Internal Auditing Online Training
IIA IIA-CIA-Part1 Online Training
The questions for IIA-CIA-Part1 were last updated at Nov 19,2024.
- Exam Code: IIA-CIA-Part1
- Exam Name: CIA Exam Part One: Essentials of Internal Auditing
- Certification Provider: IIA
- Latest update: Nov 19,2024
Which of the following actions would be most effective to help an internal auditor determine how successful the organization has been in communicating the existence of its ethics hotline?
- A . Reviewing the number of anonymous hotline allegations against employee complaints.
- B . Surveying employees to determine whether they are aware of the hotline.
- C . Benchmarking the average time to investigate hotline complaints.
- D . Tracking the number of hotline allegations per total number of employees.
Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?
- A . The CAE tasks internal auditors with coordinating assurance activities with other providers across the organization.
- B . The CAE encourages auditors to volunteer to support research work of the local professional institute.
- C . The CAE requires auditors to periodically attest to the profession’s Code of Ethics.
- D . The CAE reminds auditors to ensure workpapers are completed for audit engagements.
Which of the following organizational practices is likely to be a part of a corporate social responsibility program?
- A . A mining company practices backfilling and planting trees after mining within an area.
- B . A construction company ensures that its workers are paid at the regulated minimum wage.
- C . A foods manufacturer sources cheap raw materials to generate higher profits for distribution to its employees.
- D . A bank listed on the national stock exchange consistently pays dividends to its shareholders.
Which of the following can be used to minimize employees’ resentment of controls?
- A . Making sure employees are exempt from participating in control creation
- B . Implementing controls without lengthy explanations of their purpose
- C . Developing general constricting controls rather than detailed ones
- D . Not using controls to achieve goals
When the chief audit executive Is responsible for risk management in an organization, which of the following parties is responsible for overseeing the internal audit activity’s assurance over risk management?
- A . The chief audit executive.
- B . A member of the compliance function.
- C . A party outside of the internal audit activity.
- D . A member of the risk management function.
According to IIA guidance, which of the following statements is true regarding consulting engagements performed by the internal audit activity?
- A . Consulting engagements typically involve four or five parties: the internal audit activity, engagement client, senior management, board, and sometimes the external auditor.
- B . The scope of a consulting engagement is determined by either the engagement supervisor or chief audit executive, and it is finalized prior to beginning fieldwork.
- C . According to the Standards, internal auditors are permitted to carry out certain management functions during a consulting engagement.
- D . A preliminary risk assessment may not be needed for consulting engagements, because the expectations and objectives of the engagement are determined by the engagement client.
The internal auditor of a small manufacturer noted that the accounting department has insufficient staff to achieve proper segregation of duties.
What type of controls would the auditor likely recommend to management to specifically address this problem?
- A . Entity-level.
- B . Preventive.
- C . Directive.
- D . Compensating.
Which of the following describes the primary objective when implementing a risk management framework?
- A . To achieve planned profitability for business expansion.
- B . To enhance an organization’s confidence in achieving strategy.
- C . To strengthen corporate governance standards.
- D . To eliminate business risks and uncertainties.
During an audit engagement of a large retail store, internal auditors noted significant discrepancies between available inventory and sales and suspect an abuse of cash register refunds and voids.
Which of the following would be the most effective preventative control to reduce these losses?
- A . Ensure that returned merchandise is restocked to shelves or sent to the manufacturer by an independent employee.
- B . Call a sample of customers who returned merchandise to test the legitimacy of the returns and check refund amounts.
- C . Require that a manager use a reserved register code to approve voids or refunds.
- D . Analyze voids and refunds by employee, credit card number, and amount for unusual numbers, amounts, or patterns.
Which of the following controls would be most useful to prevent an employee from using the organization’s funds for inappropriate expenditures and falsifying financial records to conceal the fraud?
- A . Segregating duties in the payroll processes.
- B . Confirming receipt of goods or services.
- C . Performing background checks on newly hired employees.
- D . Requiring management approval for expenses.
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