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IIA IIA-CIA-Part3 Exam Syllabus Topics:

SectionObjectives
Topic 1: Financial Management- Budgeting and cost control
- Managerial accounting concepts
- Financial statements and reporting basics
Topic 2: Business Acumen and Global Business Environment- Business strategies and objectives alignment
- Organizational structure and business processes
- Global business environment and market influences
Topic 3: Information Technology and Business Systems- System development lifecycle concepts
- Information systems and data governance
- IT controls and cybersecurity fundamentals
Topic 4: Information Security and Business Continuity- Information security management principles
- Business continuity and disaster recovery
- Data protection and privacy considerations
Topic 5: Risk Management and Regulatory Environment- Enterprise risk management (ERM) principles
- Internal controls and governance concepts
- Compliance and regulatory frameworks

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IIA Internal Audit Function Sample Questions (Q656-Q661):

NEW QUESTION # 656
An entity most likely may derecoginize a financial liability if it:

Answer: A

Explanation:
Derecognition of a financial liabilityor a part) occurs only by means of extinguishment.
This condition is satisfied only when the debtor pays the creditor or is legally released from primary responsibility either by the creditor or through the legal process. An extinguishments and derecognition of the old debt and recognition of new debt occurs when the borrower and lender exchange debt instruments with II substantially different terms, that is, when the respective discounted cash flows differ by at least 10%.


NEW QUESTION # 657
If RCF does not maintain a safety stock, the estimated total carrying costs for the computer chairs for the coming year based on their current schedule is:

Answer: A

Explanation:
Given four production runs and an annual demand of 5.000 units, each production run must generate 1,250 units. Inventory will total 1.250 units at the completion of each run but will decline to zero just prior to the next run. Thus, the average inventory is 625 units (1.250 + 2), and the total carrying cost is US $6,250 (625 units x $10).


NEW QUESTION # 658
A competitive marketing strategy in which a firm specializes in serving customers overlooked or ignored by major competitors is called a:

Answer: B

Explanation:
Specializing in serving customers overlooked or ignored by major competitors is a market niche strategy. This strategy specializes along market, customer, product, or marketing mix lines.


NEW QUESTION # 659
A bicycle manufacturer incurs a combination of fixed and variable costs with the production of each bicycle Which of the following statements true recording these costs?

Answer: C


NEW QUESTION # 660
The responsibilities of a data administrator include monitoring:

Answer: A

Explanation:
The DA handles administrative issues that arise regarding the database. The DA acts as an advocate by suggesting new applications and standards. One of the DA's responsibilities is to monitor the database industry for new developments. In contrast, the database administrator DBA) deals with the technical aspects of the database:


NEW QUESTION # 661
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