IIA IIA-CIA-Part3-3P CIA Exam Part Three: Business Knowledge for Internal Auditing Online Training
IIA IIA-CIA-Part3-3P Online Training
The questions for IIA-CIA-Part3-3P were last updated at Jan 20,2025.
- Exam Code: IIA-CIA-Part3-3P
- Exam Name: CIA Exam Part Three: Business Knowledge for Internal Auditing
- Certification Provider: IIA
- Latest update: Jan 20,2025
Technological uncertainty, subsidy, and spin-offs are usually characteristics of:
- A . Fragmented industries.
- B . Declining industries.
- C . Mature industries.
- D . Emerging industries.
Which of the following statements best describes the frameworks set forth by the International Standards Organization?
- A . Globally accepted standards for industries and processes.
- B . Bridging the gaps among control requirements, technical issues, and business risks.
- C . Practical guidance and benchmarks for all organizations that use information systems.
- D . Frameworks and guidance on enterprise risk management, internal control, and fraud deterrence.
Which of the following distinguishes the added-value negotiation method from traditional negotiating methods?
- A . Each party’s negotiator presents a menu of options to the other party.
- B . Each party adopts one initial position from which to start.
- C . Each negotiator minimizes the information provided to the other party.
- D . Each negotiator starts with an offer, which is optimal from the negotiator’s perspective.
When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:
- A . Identifying risks to the organization’s operations.
- B . Observing and analyzing controls.
- C . Prioritizing known risks.
- D . Reviewing organizational objectives.
Which of the following best describes an objective for an audit of an environmental management system?
- A . To assess whether an annual control review is necessary.
- B . To determine conformance with requirements and agreements.
- C . To evaluate executive management oversight.
- D . To promote environmental awareness.
An internal auditor performed a review of IT outsourcing and found that the service provider was failing to meet the terms of the service level agreement .
Which of the following approaches is most appropriate to address this concern?
- A . The organization should review the skill requirements and ensure that the service provider is maintaining sufficient expertise and retaining skilled resources.
- B . The organization should proactively monitor the performance of the service provider, escalate concerns, and use penalty clauses in the contract where necessary.
- C . The organization should ensure that there is a clear management communication strategy and path for evaluating and reporting on all outsourced services concerns.
- D . The organization should work with the service provider to review the current agreement and expectations relating to objectives, processes, and overall performance.
Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?
- A . The cost of goods sold for the period will be understated.
- B . The cost of goods sold for the period will be overstated.
- C . The net income for the period will be understated.
- D . There will be no effect on the cost of goods sold or the net income for the period.
If legal or regulatory standards prohibit conformance with certain parts of The IIA’s Standards, the auditor should do which of the following?
- A . Conform with all other parts of The IIA’s Standards and provide appropriate disclosures.
- B . Conform with all other parts of The IIA’s Standards; there is no need to provide appropriate disclosures.
- C . Continue the engagement without conforming with the other parts of The IIA’s Standards.
- D . Withdraw from the engagement.
The decision to implement enhanced failure detection and back-up systems to improve data integrity is an example of which risk response?
- A . Risk acceptance.
- B . Risk sharing.
- C . Risk avoidance.
- D . Risk reduction.
Which of the following is the best reason for considering the acquisition of a nondomestic organization?
- A . Relatively fast market entry.
- B . Improved cash flow of the acquiring organization.
- C . Increased diversity of corporate culture.
- D . Opportunity to influence local government policy.
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