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IIA IIA-CIA-Part3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Organizational Strategic Planning and Management25%- Analyze the organization's strategic planning process and its integration with the risk management strategy
  • 1. Alternative strategies evaluation
  • 2. Control environment
  • 3. Alignment to the organization's mission and values
  • 4. Risk appetite definition
  • 5. Business context analysis
  • 6. Objective setting
- Examine organizational behavior and management principles
  • 1. Motivation theories
  • 2. Change management
  • 3. Leadership styles
  • 4. Team dynamics
  • 5. Conflict resolution
- Identify the risk and control implications of different organizational structures
  • 1. Flat versus traditional
  • 2. Centralized versus decentralized
  • 3. Matrix structures
- Examine how performance measures and controls are used to assess achievement of organizational objectives
  • 1. Balanced scorecard
  • 2. Benchmarking
  • 3. Key performance indicators (KPIs)
- Identify risk and control implications related to leadership and mentoring
  • 1. Coaching
  • 2. Mentoring
  • 3. Guiding people
  • 4. Providing constructive feedback
  • 5. Demonstrating entrepreneurial ability
  • 6. Building organizational commitment
Topic 2: Financial Management10%- Examine the risk and control implications of financial statement analysis
  • 1. Common-size analysis
  • 2. Trend analysis
  • 3. Ratio analysis
- Identify risk and control implications of financial management
  • 1. Foreign currency
  • 2. Working capital management
  • 3. Financial instruments
  • 4. Capital structure and financing
Topic 3: Common Business Processes45%- Recognize various forms and elements of contracts
  • 1. Formality
  • 2. Consideration
  • 3. Fixed-price and cost-reimbursable contracts
  • 4. Unilateral and bilateral contracts
- Describe the risk and control implications of supply chain management
  • 1. Vendor management
  • 2. Quality control
  • 3. Inventory management
- Describe business processes and their risk and control implications
  • 1. Procurement
  • 2. Human resources
  • 3. Product development
  • 4. Management of outsourced processes
  • 5. Sales and marketing
  • 6. Logistics
- Identify risk and control implications of project management
  • 1. Change management in projects
  • 2. Time/team/resources/cost management
  • 3. Project risk management
  • 4. Project plan and scope
- Examine financial management concepts and their risk and control implications
  • 1. Managerial accounting
  • 2. Cost accounting
  • 3. Working capital management
  • 4. Capital budgeting and investment
  • 5. Financial accounting and reporting
  • 6. Financial analysis and decision-making
Topic 4: Information Technology20%- Recognize existing and emerging cybersecurity threats and vulnerabilities
  • 1. Malware
  • 2. Social engineering
  • 3. Ransomware
  • 4. Phishing
- Examine the role of data analytics in the audit process
  • 1. Data extraction
  • 2. Continuous auditing
  • 3. Data analysis techniques
- Recognize principles of data privacy and their potential impact on data security policies and practices
- Recognize data governance and data management concepts
- Explain the purpose and use of common information security and technology controls
  • 1. Antivirus
  • 2. Digital signatures
  • 3. Biometrics
  • 4. Firewalls
  • 5. Passwords
  • 6. Multi-factor authentication
  • 7. Encryption
  • 8. IT general controls
- Identify risk and control implications related to IT infrastructure and systems
  • 1. Networking
  • 2. Cloud computing
  • 3. Business continuity and disaster recovery
  • 4. Databases
  • 5. Operating systems

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IIA Internal Audit Function Sample Questions (Q160-Q165):

NEW QUESTION # 160
Use of unlicensed software in an organization:
I. Increases the risk of introducing viruses into the organization
II. Is not a serious exposure if only low-cost software is involved
III.
Can be detected by software checking routines that run from a network server

Answer: B

Explanation:
Antivirus measures should include strict adherence to software acquisition policies. Unlicensed software is less likely to have come from reputable vendors and to have been carefully tested. Special software is available to test software in use to determine whether it has been authorized.


NEW QUESTION # 161
Which of the following results in a tax base of zero?

Answer: A

Explanation:
The difference between the carrying amount of an asset or liability and its tax base is a temporary difference TD). A taxable (deductible) TD results in taxable deductible) amounts in the future when the carrying amount of the asset or liability is recovered or settled. The tax base is the amount attributed for tax purposes to an asset or Ii ability. The tax base of an asset is the amount deductible against future taxable economic benefits when the asset's carrying amount is recovered. The tax base of a liability is the portion of the carrying amount that will not be deductible against future taxable economic benefits for tax purposes. The tax base of revenue received in advance a liability is the portion of the carrying amount taxable in the future. For unearned interest revenue for which the related interest revenue was taxed on a cash basis, the tax base equals zero US $1.000 carrying amount - $1.000 not taxable in the future). An entity has purchased an asset with a 10-year useful life. It will use an accelerated depreciation method for determining taxable profit or tax loss. For determining accounting profit, it will use straight-line depreciation.


NEW QUESTION # 162
A company that uses the accrual basis of accounting can recognize revenue under which of the following conditions?

Answer: A

Explanation:
Under accrual accounting, revenue is recognized when it is earned, not necessarily when cash is received.
Revenue is generally earned when goods are delivered or services are performed and the organization has satisfied its performance obligation. Option A reflects cash-basis accounting, not accrual accounting. Option B may occur when revenue is recognized, but the receivable is an accounting result rather than the underlying condition. Option C is incorrect because receiving a check for goods merely ordered may represent an advance payment or liability if the goods have not yet been provided. Internal auditors reviewing revenue should assess cutoff, delivery evidence, service completion, contract terms, collectability, and proper period recognition. Therefore, Option D is correct.


NEW QUESTION # 163
If the value of the U.S. dollar in foreign currency markets changes from US $1 = .95 euros to US $1 = .90 euros.

Answer: C

Explanation:
The dollar has declined in value relative to the euro_ If an American had previously wished to purchase a European product that was priced at 10 euros, the price would have been about US $10.53. After the dollar's decline in value, the price of the item has increased to about US $11.11. Hence, imports from Europe should do-i --se and exports increase.


NEW QUESTION # 164
A company provides fertilization, insect control, and disease control services for a variety of trees, plants, and shrubs on contract basis. For US $50 per month, the company will visit the subscriber's premises and apply appropriate. If the subscriber has any problem between the regularity scheduled application dates, the company's personal will promptly make additional service calls to correct the situation. Some subscribers elect to pay for an entire year because the company offers an annual price of 115 $540 if paid in advance. For a subscriber who pays the annual fee in advance, the company should recognize the related revenue.

Answer: D

Explanation:
Income, which includes revenue and gains, should not be recognized until an increase in future economic benefits related to an increase in an asset or a decrease in a liability is sufficiently certain and can be measure I reliably. I-he most common time at which these two conditions are met is when the product or merchandise is delivered services are rendered to customers. In the situation presented the performance of the service monthly spraying) is so significant to creating a sufficient certainty of an increase in future economic benefits that revenue should not be recognized until delivery occurs.


NEW QUESTION # 165
......

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