IIA-CIA-Part1 Exams - IIA-CIA-Part1 Relevant Questions

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IIA IIA-CIA-Part1 Exam Overview:

Certification Vendor:	IIA
Exam Name:	Essentials of Internal Auditing
Exam Number:	IIA-CIA-Part1
Certificate Validity Period:	Lifetime
Related Certifications:	Certified Internal Auditor (CIA)
Passing Score:	600 (Scaled score out of 750)
Exam Duration:	150 minutes
Real Exam Qty:	125
Exam Format:	Multiple Choice
Available Languages:	Japanese, Arabic, Portuguese, Turkish, Simplified Chinese, German, Russian, Polish, Spanish, English, Korean, French
Exam Price:	USD 310 - USD 445
Sample Questions:	IIA IIA-CIA-Part1 Sample Questions
Exam Way:	Computer-based testing at Pearson VUE centers
Pre Condition:	Candidates must hold a Bachelor's degree or higher from an accredited institution.
Official Syllabus URL:	https://www.theiia.org/en/certifications/cia/exam-prep-resources/exam-syllabus/exam-syllabus-part-1/

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IIA-CIA-Part1 (Essentials of Internal Auditing) certification exam is a critical certification for internal auditors worldwide. It is designed to test the knowledge and understanding of candidates in the areas of internal auditing, including governance, risk management, ethics, and internal control. Internal Audit Fundamentals certification is highly respected in the industry and is recognized globally. Candidates who pass the exam can enhance their professional credibility and demonstrate their expertise in the field.

IIA Internal Audit Fundamentals Sample Questions (Q329-Q334):

NEW QUESTION # 329
Which of the following audit techniques is used to evaluate control design while also embodying auditing's analytical process?

A. A process narrative.
B. A walk-through.
C. A flowchart.
D. A risk and control matrix.

Answer: D

NEW QUESTION # 330
An organization has a policy requiring two signatures on all checks written for amounts in excess of $10,
000. When evaluating controls over disbursements, an auditor would conclude that a greater risk exists if.

A. The auditor located two checks for $9, 000 each that contained one authorized signature.
B. The $10, 000 was an immaterial amount to the organization and very few cash disbursements required an amount in excess of $10, 000.
C. The director of accounting was not one of the authorized signers.
D. There were several instances in which successively numbered checks for amounts between $5, 000 and $10, 000 were made payable to the same vendor.

Answer: D

NEW QUESTION # 331
How should the internal audit activity promote continuous improvement of organizational controls?

A. By assessing implementation of controls m individual processes during audit engagements
B. By identifying the most significant business processes and designing effective controls for those processes
C. By facilitating control self-assessment sessions for managers responsible for business processes
D. By implementing an internationally accepted internal control framework across the organization

Answer: C

NEW QUESTION # 332
In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?

A. Maintaining technical aspects of accounting standards and reporting processes.
B. Assessing how IT contributes to organization objectives, risks, and relevance to audit.
C. Understanding regulatory and legal framework and assessing its relevance.
D. Maintaining industry-specific knowledge appropriate to the organization.

Answer: C

NEW QUESTION # 333
During a brainstorming session, employees stated that dishonest vendors could submit fictitious invoices to the organization, and such an invoice may be authorized for payment because the employees responsible might be clicking approval boxes without going into the details.
Given this information, which of the following controls should be tested during the audit engagement?

A. Detection of preferential treatment of vendors.
B. Confirmation of receipt of goods or services.
C. Automatic processing of approved payments to the bank.
D. Segregation of duties in accounts payable.

Answer: B

Explanation:
The primary fraud scenario is payment of fictitious invoices for goods or services that were never actually received. Therefore, the most relevant control is confirmation that the organization received the goods or services before an invoice is authorized for payment. A properly functioning three-way or equivalent verification process links the invoice to evidence of an approved purchase and actual receipt. Automatic payment processing occurs after approval and would not prevent approval of a fictitious invoice. Segregation of duties is important in accounts payable but does not directly address employees approving nonexistent deliveries without checking supporting evidence. Preferential vendor treatment relates more closely to conflicts of interest, bribery, or procurement manipulation. Consequently, testing evidence of receipt most directly addresses the fraud risk identified during brainstorming.

NEW QUESTION # 334
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