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 20,2024.
- Exam Code: IIA-CIA-Part1
- Exam Name: CIA Exam Part One: Essentials of Internal Auditing
- Certification Provider: IIA
- Latest update: Nov 20,2024
Which of the following relates to the concept of due professional care?
- A . An auditor attempts to obtain information needed to complete an assurance engagement but is denied access.
- B . The appointment of the chief audit executive is ratified by the board.
- C . An auditor demonstrates a good understanding of the steps involved in carrying out a consulting engagement.
- D . The internal audit resource plan is only approved by the chief financial officer.
Internal controls belong to which risk response category?
- A . Reduction.
- B . Avoidance.
- C . Sharing.
- D . Acceptance.
An internal auditor assessed the controls within his organization’s payroll process and suspects that erroneous payments may have been made to a fraudulent bank account.
What is the best course of action for the auditor to take?
- A . Speak to the payroll manager so he may investigate the auditor’s observations.
- B . Continue to investigate the payments to confirm the accuracy of the observations, and determine whether further fraudulent payments have been made.
- C . Stop the audit and report the findings to senior management immediately.
- D . Escalate the concern to the engagement supervisor.
Prior to commencing a financial compliance engagement, the engagement supervisor reads the business plan for the finance department and meets informally with the director to learn more about any key issues.
Which of the following competencies is the engagement supervisor demonstrating?
- A . The ability to inspire trust
- B . The ability to communicate effectively
- C . The ability to display courage
- D . The ability to understand the needs of stakeholders
Which of the following would a chief audit executive most likely use to identify a need for improvement in a staff internal auditor’s business acumen?
- A . A quality assessment review.
- B . An internal audit client survey.
- C . A control self-assessment.
- D . A peer review of the internal audit activity.
According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization’s social responsibility program is effective?
- A . Senior management
- B . Internal audit activity.
- C . All employees.
- D . Board of directors.
Which of the following statements best describes a functional difference between external auditors and internal auditors?
- A . Internal auditors evaluate past achievements to understand whether controls are operating effectively, and external auditors focus on the accuracy of financial reporting.
- B . Internal auditors provide assurance about the sufficiency of controls to manage risks. Including risks of failure to achieve future goals, and external auditors evaluate the accuracy and understandability of financial reporting.
- C . internal auditors are always employed by the organization, rather than outsourced, and external auditors are never employed by the organization but contracted independently.
- D . Internal auditors are most directly concerned with the detection of fraud, while external auditors are most directly concerned with the prevention of fraud.
Which of the following risk management techniques best describes the strategy of obtaining insurance to protect against losses due to bad weather conditions?
- A . Risk avoidance
- B . Risk reduction
- C . Risk acceptance
- D . Risk sharing
An internal auditor is reviewing employee travel expenses from the previous six months for fraud.
Which of the following tests would best detect instances where personal travel has been claimed?
- A . Verifying whether claims have been properly authorized for payment
- B . Verifying whether claims are properly supported by invoices or other documents.
- C . Confirming that all claims are within the limits of the organization’s travel policy.
- D . Reconciling claims against business the requests that were approved by supervisors
IT management requires all employees in the IT department to attend annual training on the department’s mission values and key performance measures
This activity is designed to prevent which of the following conditions?
- A . Knowledge’s kills gap
- B . Monitoring gap
- C . Accountability/reward failure
- D . Communication failure
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