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 is a primary benefit of implementing a governance risk management and compliance framework within an organization?
- A . Fewer internal audits
- B . More effective interviews
- C . Automated risk management strategy tools
- D . Reduced assurance costs
According to HA guidance, which of the following is true regarding independence and objectivity for small internal audit activities?
- A . The chief audit executive (CAE) may consider including a disclaimer on independence in audit reports.
- B . The CAE may consider greater involvement of those with suitable knowledge of audit practice.
- C . Conformance with this Standard is not dependent upon the size of the internal audit activity.
- D . Due to the small size of the internal audit activity, having an external assessment once every seven years is acceptable.
According to the Standards, in today’s technology and business environments, how much computer and information systems-related knowledge and skills must an internal auditor have to be effective in fulfilling his job responsibilities?
- A . Auditors must have an IT specialty in at least one of their organization’s key information technology systems.
- B . Auditors must be proficient in data analysis and computer assisted audit techniques for their organization.
- C . Auditors must understand their organization’s integrated test facilities and generalized audit software.
- D . Auditors must understand their organization’s IT governance, risk, and control processes.
Which of the following actions best demonstrates an internal auditor exercising due professional care?
- A . Testing an entire population, even when a sample would suffice
- B . Using technology and data analysis techniques for efficiency
- C . Enhancing knowledge, skills, and other competencies through professional development
- D . Establishing audit objectives, performing audit tests, and implementing missing controls
According to The IIA’s Competency Framework, which competency is considered the mandatory minimum for internal auditors to possess when performing internal audit engagements?
- A . To recognize red flags that indicate fraud.
- B . To recommend controls to prevent fraud.
- C . To apply forensic auditing techniques to detect fraud.
- D . To evaluate the potential for fraud.
An internal audit activity is taking steps to promote professional development among the staff, and is in the process of implementing a mentorship program.
According to HA guidance, which of the following is important for a successful mentorship program?
- A . It is best if the mentor is the chief audit executive.
- B . Mentor meeting documentation should be retained in personnel files.
- C . It should target both new hires and highly experienced staff.
- D . Meetings with mentors should be formal and scheduled.
What is an appropriate first step in an internal auditor’s fraud risk assessment to evaluate how the organization manages such risk?
- A . Develop preventive and detective controls
- B . Identify potential fraud scenarios
- C . Assess the impact and likelihood of fraud risks
- D . Determine fraud risk responses
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted.
Which of the following would best help the organization manage the risk of fraud?
- A . Accounting personnel should regularly perform reconciliation between invoices and purchase orders
- B . Accounting personnel should conduct a periodic inventory count and reconcile inventory movements
- C . internal auditors should review Vie frequency and volume of purchased assets to detect trends in the inventory levels
- D . Management should established a policy requiring new inventory asset purchases to be
made on serialized order forms with copies retained
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted.
Which of the following would best help the organization manage the risk of fraud?
- A . Accounting personnel should regularly perform reconciliation between invoices and purchase orders
- B . Accounting personnel should conduct a periodic inventory count and reconcile inventory movements
- C . internal auditors should review Vie frequency and volume of purchased assets to detect trends in the inventory levels
- D . Management should established a policy requiring new inventory asset purchases to be
made on serialized order forms with copies retained
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted.
Which of the following would best help the organization manage the risk of fraud?
- A . Accounting personnel should regularly perform reconciliation between invoices and purchase orders
- B . Accounting personnel should conduct a periodic inventory count and reconcile inventory movements
- C . internal auditors should review Vie frequency and volume of purchased assets to detect trends in the inventory levels
- D . Management should established a policy requiring new inventory asset purchases to be
made on serialized order forms with copies retained
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