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CIA EXAM - Part 1_ I Foundations of Internal Auditing (15%)
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CIA EXAM - Part 1_ I Foundations of Internal Auditing (15%)
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CIA EXAM - Part 1: I Foundations ofInternal Auditing (15%)
What are the Core Principles for the Professional Practice of Internal Auditing
(mandatory guidance of IPPF)? - ANS-1). *Core Principles* - are the basis for internal
audit effectiveness. Audit function is effective if all principles are present:
a). Integrity.
b). Competence and due professional care.
c). Independent.
d). Aligns w/ the strategies, objectives, and risks of the organization.
e). Appropriately positioned and adequately resourced.
f). Demonstrates quality and continuous improvement.
g). Communicates effectively.
h). Provides risk-based assurance.
i). Is insightful, proactive, and future-based.
j). Promotes organizational improvement.
What are the Rules of Conduct - Integrity? - ANS-Rules of Conduct - Integrity
Internal auditors:
1.1. Shall perform their work with honesty, diligence, and responsibility.
1.2. Shall observe the law and make disclosures expected by the law and the
profession.
1.3. Shall not knowingly be a party to any illegal activity, or engage in acts that are
discreditable to the profession of internal auditing or to the organization.
1.4. Shall respect and contribute to the legitimate and ethical objectives of the
organization.
What are the Rules of Conduct - Objectivity? - ANS-Internal auditors:
2.1. Shall not participate in any activity or relationship that may impair or be presumed
to impair their unbiased assessment. This participation includes those activities or
relationships that may be in conflict with the interests of the organization.
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