Exam (elaborations)
Certified Internal Auditor (CIA) Section 1 (Set 2) (1
- Institution
- CISA: Domain #2, Part A: IT Governance
Certified Internal Auditor (CIA) Section 1 (Set 2) (1
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Certified Internal Auditor (CIA) Section 1 (Set 2)Attribute Standard 1200 - ANS-"Proficiency and Due Professional Care"
Engagements must be performed with proficiency and due professional care.
Proficiency - ANS-The knowledge, skills, and other competencies required of internal auditors to
effectively carry out their professional responsibilities.
In order to enable relevant advice and recommendations, proficiency encompasses: -
ANS-Current activities, trends, and emerging issues
Internal auditors generally develop individual proficiency throughout their careers: - ANS-- By
obtaining and maintaining appropriate certifications.
- By gaining experience.
- Through professional education, including continuing professional development.
Implementation Standard 1220.A1 (Assurance Engagements) - ANS-Internal auditors must
exercise due professional care by considering the:
- Extent of work needed to achieve the engagement's objectives.
- Relative complexity, materiality, or significance of matters to which assurance procedures are
applied.
- Adequacy and effectiveness of governance, risk management, and control processes.
- Probability of significant errors, fraud, or noncompliance.
- Cost of assurance in relation to potential benefits.
Attribute Standard 1210 - ANS-"Proficiency"
Internal auditors must possess the knowledge, skills, and other competencies needed to
perform their individual responsibilities. The internal audit activity collectively must possess or
obtain the knowledge, skills, and other competencies needed to perform its responsibilities.
True or False:
Internal auditors are encouraged to demonstrate their proficiency by obtaining appropriate
professional certifications and qualifications. The IIA's Competency Framework may be used by
internal auditors as a basis of self-assessment. - ANS-True
Implementation Standard 1210.A2 (Assurance Engagements) - ANS-Internal auditors must
have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by
the organization, but are not expected to have the expertise of a person whose primary
responsibility is detecting and investigating fraud.
, Implementation Standard 1210.A3 (Assurance Engagements) - ANS-Internal auditors must
have sufficient knowledge of key information technology risks and controls and available
technology-based audit techniques to perform their assigned work. However, not all internal
auditors are expected to have the expertise of an internal auditor whose primary responsibility is
technology auditing.
Implementation Standard 1210.A1 (Assurance Engagements) - ANS-The chief audit executive
must obtain competent advice and assistance if the internal auditors lack the knowledge, skills,
or other competencies needed to perform all or part of the engagement.
True or False:
When consulting engagements are being considered and the available internal auditors do not
have the required proficiencies, the CAE must decline the engagement or pursue other options.
- ANS-True
Implementation Standard 1210.C1 (Consulting Engagements) - ANS-The chief audit executive
must decline the consulting engagement or obtain competent advice and assistance if the
internal auditors lack the knowledge, skills, or other competencies needed to perform all or part
of the engagement.
Technical skills - ANS-The hard skills needed to perform the duties of an internal auditor.
Personal (soft) skills - ANS-Can affect how the recommendations that arise from the
applications of technical skills impact the recipients of assurance and advisory services.
Attribute Standard 1220 - ANS-"Due Professional Care"
Internal auditors must apply the care and skill expected of a reasonably prudent and competent
internal auditor. Due professional care does not imply infallibility.
True or False:
Obtaining appropriate education, experience, certifications, and training helps internal auditors
develop the level of skill and expertise required to perform their duties with due professional
care. - ANS-True
At the engagement level, due professional care involves comprehending: - ANS-- The
objectives of the engagement.
- The scope of the engagement.
- The competencies required to execute the audit work.
- Knowledge of any policies and procedures specific to the internal audit activity and the
organization.
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