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
What is the best course of action when the internal audit activity does not have the knowledge necessary to perform a planned audit of the organization’s new IT data backup process?
- A . Postpone the audit engagement to a later date.
- B . Recruit and hire a full-time staff auditor who is proficient in data backup processes.
- C . Change the plan from an assurance engagement to a consulting engagement.
- D . Provide data backup training to the engagement supervisor.
With regard to governance, which of the following is a board-level responsibility rather than a management responsibility?
- A . Obtaining assurance on external financial, regulatory, and internal audits.
- B . Complying with laws, regulations, and codes.
- C . Assigning authority and responsibilities organization wide.
- D . Monitoring and measuring performance.
An internal auditor found that his organization did not make a disclosure that is required by law. However, the auditor decided not to raise an audit finding.
Which of the following Code of Ethics principles was violated?
- A . Objectivity.
- B . Integrity.
- C . Proficiency.
- D . Confidentiality.
Who has the ultimate responsibility of implementing the organization’s governance system?
- A . Stakeholders
- B . The board
- C . The chief executive officer
- D . Internal auditors
A senior executive at a government-owned organization received an invitation to attend a public exhibition where he can learn about new trucks relevant to the organization’s business. As a special perk, the executive is offered an opportunity to drive a luxury vehicle manufactured by one of the exhibiting companies. Prior to the event, the executive asked for the chief audit executive s (CAE’s) advice.
What should the CAE recommend as the most appropriate course of action for the executive?
- A . Attend the event, but decline the offer to use the luxury vehicle
- B . Decline the invitation to the exhibition.
- C . Ask the board to decide on the issue.
- D . Select a lower-level employee to enjoy the luxury vehicle instead
Which of the following best describes a consulting engagement rather an assurance engagement?
- A . Bank internal auditors review an activity checklist to determine that the loan officer followed proper procedures.
- B . The chief financial officer asks for the internal auditor’s opinion regarding whether the new accounting pronouncements were properly and comprehensively adopted
- C . An internal auditor is assigned to assess whether a proposed new initiative to convert a customer service system would be cost effective.
- D . Senior management asks the internal audit activity to review compliance with customer data security regulations
An internal auditor at a multinational organization is reviewing the effectiveness of the organization’s risk management framework.
In this scenario, which of the following statements is true?
- A . The auditor should consider local cultures and customs in various regions when assessing control effectiveness.
- B . Regardless of their location, employees at all levels share responsibility for designing effective controls to mitigate risks.
- C . To achieve an effective internal control environment, the organization’s risk management plan must be documented and communicated to all levels throughout each region.
- D . Setting clear objectives is a precondition to effectively identifying, assessing, and responding to the organization’s risks.
According to IIA guidance, the internal audit activity must be free from interference in which of the following areas in order to maintain organizational independence?
- A . Monitoring resources.
- B . Compensating the chief audit executive.
- C . Determining scope.
- D . Allocating internal costs.
Which of the following describes a primary responsibility for the internal audit activity in helping management maintain effective controls?
- A . Promoting continuous evaluation
- B . Promoting continuous monitoring
- C . Promoting continuous improvement
- D . Promoting continuous reporting
Which of the following practices is generally most effective to protect internal audit objectivity?
- A . Ensuring regular documentation of auditor skills and experience in the workpapers.
- B . Basing performance evaluations heavily on customer satisfaction surveys.
- C . Prohibiting auditors from accepting gifts from audit clients or potential clients.
- D . Ensuring that auditors have a balance of both operational and internal audit responsibilities.
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