IIA-CIA-Part1

Operational management in the IT department has developed key performance indicator reports, which are reviewed in detail during monthly staff meetings. This activity is designed to prevent which of the following conditions?A . Knowledge/skills gap, B. Monitoring gap. C. Accountability/reward failure, D. Communication failure.View AnswerAnswer: B

According to NA guidance, which of the following practices by the chief audit executive (CAE) best enhances the organizational independence of the internal audit activity?A . CAE reviews and approves the annual audit plan, B. CAE meets privately with the CEO at least annually. C. CAE meets privately with the...

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...

Which of the following must be in existence as a precondition to developing an effective system of internal controls?A . A monitoring process, B. A risk assessment process. C. A strategic objective-setting process. D. An information and communication process.View AnswerAnswer: B

Which of the following would be considered a monitoring activity in organization wide risk management?A . Validate the results of management's self-assessment. B. Perform reviews of personnel. C. Maintain rigorous and comprehensive documentation. D. Obtain authorizations and signatures.View AnswerAnswer: A

Applying ISO 31000, which of the following is part of the external context for risk management?A . Risk treatment method based on risk evaluation. B. Organizational culture, objectives, and processes. C. The regulatory and competitive environment D. The method of determining the risk level.View AnswerAnswer: C

Senior management has decided to adopt the key principles approach of the ISO 31000 risk management framework. According to IIA guidance, which of the following principles is most appropriate when implementing the risk management process in a dynamic agency?A . Everyone in the agency has a primary responsibility for identifying...

For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?A . Chair should learn the current organizational culture of the company. B. Chair should learn the current risk management system...

While auditing an organization's credit approval process, an internal auditor learns that the organization has made a large loan to another auditor's relative. Which course of action should the auditor take?A . Proceed with the audit engagement, but do not include the relative's information. B. Have the chief audit executive...

Which of the following best demonstrates internal auditors performing their work with proficiency?A . Internal auditors meet with operational management at each phase of the audit process. B. Internal auditors adhere to The IIA’s Code of Ethics. C. Internal auditors work collaboratively with their engagement team. D. Internal auditors complete...