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IIA-CIA-Part1 exam consists of 125 multiple-choice questions that must be completed within a time limit of two and a half hours. IIA-CIA-Part1 exam is divided into six domains, including governance and risk management, organizational structure and business processes, communication, management and leadership principles, IT and business continuity, and financial management. IIA-CIA-Part1 Exam is computer-based and can be taken at any Pearson VUE testing center around the world.

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IIA-CIA-Part1 Certification Exam is a computer-based exam consisting of 125 multiple-choice questions. IIA-CIA-Part1 Exam is administered in English and has a duration of two hours and forty-five minutes. The passing score for the exam is 600 out of 800, and candidates must achieve a minimum score of 75% in each of the exam's four domains: Foundations of Internal Auditing, Independence and Objectivity, Proficiency and Due Professional Care, and Quality Assurance and Improvement Programs.

IIA Internal Audit Fundamentals Sample Questions (Q685-Q690):

NEW QUESTION # 685
According to MA guidance, which of the following best describes how often the chief audit executive should review the quality assurance and improvement program of the internal audit activity?

A. Progressively on a day-to-day basis
B. Just prior to an external assessment of the internal audit activity
C. At the completion of each engagement.
D. Whenever the business objectives of the organization change

Answer: A

Explanation:
According to IIA guidance, the chief audit executive should review the quality assurance and improvement program of the internal audit activity progressively on a day-to-day basis. This continual review ensures that the internal audit activity remains effective and aligned with the organization's objectives and adheres to professional standards, thereby maintaining and enhancing the value provided by the audit function.
References: IIA standards related to the quality assurance and improvement program, which advocate for ongoing monitoring to ensure the effectiveness of the internal audit activity.

NEW QUESTION # 686
In preparing for an audit of the footwear division of a major retail organization, an internal auditor gathered the following information about the organization's stores:

In addition to labor costs, the other costs associated with each store are leasing and maintenance expenses. Which of the following is a valid conclusion?

A. Gross margin is directly related to the size of the store.
B. Sales per store are directly related to the size of the store.
C. Cost of goods sold is directly related to the size of the store.
D. Employees are less productive in larger stores.

Answer: B

NEW QUESTION # 687
During an audit engagement of a large retail store, internal auditors noted significant discrepancies between available inventory and sales and suspect an abuse of cash register refunds and voids. Which of the following would be the most effective preventative control to reduce these losses?

A. Analyze voids and refunds by employee, credit card number, and amount for unusual numbers, amounts, or patterns.
B. Ensure that returned merchandise is restocked to shelves or sent to the manufacturer by an independent employee.
C. Require that a manager use a reserved register code to approve voids or refunds.
D. Call a sample of customers who returned merchandise to test the legitimacy of the returns and check refund amounts.

Answer: C

NEW QUESTION # 688
According to IIA guidance, which of the following statements is true regarding the internal audit activity's responsibilities in providing consulting services?

A. The scope of consulting services is determined primarily by the internal auditor with input from management of the area under review
B. Adding value to an organization requires the internal audit activity to initiate a consulting engagement
C. The chief audit executive is responsible for deciding the priority of consulting services in the internal audit plan
D. The board defines the internal audit activity's responsibilities over consulting activities

Answer: C

NEW QUESTION # 689
Which of the following parties would be responsible for ongoing monitoring of the organization's corporate social responsibility activities to reduce its carbon footprint?

A. Facility operation manager
B. Public relations manager
C. Chief audit executive
D. Regulatory agency

Answer: A

NEW QUESTION # 690
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