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 Mar 06,2025.
- Exam Code: IIA-CIA-Part1
- Exam Name: CIA Exam Part One: Essentials of Internal Auditing
- Certification Provider: IIA
- Latest update: Mar 06,2025
An internal auditor believes that the internal audit activity’s independence is impaired.
Which of the following actions should the internal auditor take first?
- A . Report the impairment to senior management
- B . Discuss the impairment with the audit manager
- C . Ascertain the best approach to disclose the impairment.
- D . Decide on the extent of impact of the impairment
Management assessed the organization’s risk of expanding operations into a new, but volatile, region and began looking for a compatible local partner to manage sales and distribution.
Which of the following best describes this risk management technique?
- A . Avoidance.
- B . Acceptance.
- C . Reduction.
- D . Sharing
In which of the following ways could stakeholders be engaged in corporate social responsibility efforts?
- A . Investigation of health and safety incidents.
- B . Auditing of controls and management systems.
- C . Communication of disclosures and external reporting,
- D . Involvement in focus groups and complaint management
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?
- A . Results of internal assessments need to be reported to the board at least once every five years.
- B . The external assessor must present the findings from the external assessment to senior management and the board upon completion.
- C . Deficiencies within the internal audit activity must be reported to the board as soon as they are noted.
- D . Results of ongoing monitoring of the internal audit activity’s performance must be reported to senior management and the board at least annually
Which of the following best describes the internal audit activity’s responsibility within a risk and control framework?
- A . The internal audit activity constitutes the first line of defense in effective risk management.
- B . The internal audit activity provides direction regarding internal controls implementation.
- C . The internal audit activity verifies that management has met its responsibility for implementing effective controls.
- D . The internal audit activity implements the internal control framework and advises management regarding best practices.
Which of the following best demonstrates that the internal audit activity is using due professional care?
- A . The internal audit activity reports directly to the board on the engagements it performs.
- B . Internal auditors undertake the necessary training to complete their audit work.
- C . The completion of engagements is based on the assumption that fraudulent activities may exist.
- D . Internal auditors consider the use of technology-based audit and other data analysts techniques
Which of the following best demonstrates conformance with the Standards relating to continuing professional development of internal auditors?
- A . Regulatory approval from an accrediting agency.
- B . Self-assessments against a competency framework.
- C . Approval and signoff from the board of directors.
- D . A review by external auditors on an annual basis
If an internal auditor suspects fraud during an engagement which of the following is expected of the auditor?
- A . Evaluate the suspected activities to determine whether a forma! investigation is warranted,
- B . Immediately inform senior management and the board of the suspected fraud.
- C . Ascertain the level of resources needed to formally investigate the fraud, and proceed with the investigation if resources permit,
- D . Include in the engagement documentation all possible effects and the potential impact of the fraud to the organization
Which of the following statements best describes the difference between risk appetite and risk tolerance?
- A . Risk appetite applies to specific objectives, while risk tolerance refers to an organization’s general attitude toward risk,
- B . Risk appetite refers to the degree of risk acceptance for a particular objective, while risk tolerance is one approach to risk management.
- C . Risk appetite refers to an organization’s general level of acceptance, while risk tolerance is a more specific and subordinate concept.
- D . There is no significant difference between the two terms.
An internal auditor discovered fraud while performing an audit of an organization’s procurement process.
Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?
- A . Enhanced capability to prevent frauds from occurring.
- B . Greater assurance that procurement frauds will be detected in a timely manner
- C . Improved capability of evaluating fraud risks within the organization.
- D . Greater understanding of fraud through better evidence collection
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