Exam (elaborations)
IIA-CIA-Part1 Practice Test Questions.
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- PSYC210 Exam 02 Review
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- PSYC210 Exam 02 Review
IIA-CIA-Part1 Practice Test Questions.
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IIA-CIA-Part1 Practice Test QuestionsA chief audit executive (CAE) is reviewing the internal audit activity's performance and
is concerned that the average number of revisions to findings is steadily rising, making it
increasingly difficult to trace the finding to the supporting evidence and workpapers.
According to MA guidance, which of the following elements of the internal audit activity's
quality assurance and improvement program would provide the CAE with the most
helpful insight into the cause of this problem?A.The overall effectiveness of the internal
audit activity's periodic self assessments.B.The type of audit productivity and
performance statistics reported.C.The adequacy of the day-to-day supervision and
review process.D.The scope and frequency of external assessments. - ANS-Answer: C
According to IIA guidance, which of the following would the internal audit activity
examine in order to evaluate the organization's governance process for strategic and
operational decisions'?A.The risk assessment process including interviews with senior
management.B.The organization's mission and value statements, code of conduct, and
whistleblowing policyC.Board meeting minutes the board policy manual, and past audit
reportsD.Staff compensation objective setting and the performance evaluation policy
and process - ANS-Answer: B
During an audit engagement, the internal auditor discussed a risk mitigation
recommendation with the manager of the area under review. The manager disagreed
with the risk assessment and recommendation. The two failed to come up with an
alternative solution, and the auditor decided to proceed with including the original
recommendation in the engagement report. Which of the following is especially
important in dealing with this type of situation?A.Soft skills in communication,
negotiation, and collaboration.B.Technical skills in the area under review.C.Professional
qualifications and certification in internal auditing.D.Confidentiality and independence. -
ANS-Answer: A
Exam Domains - ANS-I. FOUNDATIONS OF INTERNAL AUDITING (15%)II.
INDEPENDENCE AND OBJECTIVITY (15%)III. PROFICIENCY AND DUE
PROFESSIONAL CARE (18%)IV. QUALITY ASSURANCE AND IMPROVEMENT
PROGRAM (7%)V. GOVERNANCE, RISK MANAGEMENT, AND CONTROL (35%)VI.
FRAUD RISKS (10%)
Part 1 - Essentials of Internal Auditing - ANS-The revised CIA exam Part 1 is well
aligned with The IIA's International Professional Practices Framework (IPPF) and
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