Certification IIA IIA-CIA-Part1 Exam, Actual IIA-CIA-Part1 Test Answers

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IIA IIA-CIA-Part1 Exam Syllabus Topics:

Section	Objectives
Topic 1: Independence and Objectivity	- Individual objectivity and impairment - Organizational independence
Topic 2: Quality Assurance and Improvement Program (QAIP)	- External quality assessments - Continuous improvement of internal audit function - Internal quality assessments
Topic 3: Foundations of Internal Auditing	- Internal audit role in governance, risk, and control - IIA Standards and Code of Ethics overview - Internal audit definition, purpose, and value
Topic 4: Proficiency and Due Professional Care	- Competence and skills requirements - Due professional care in engagements

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IIA Internal Audit Fundamentals Sample Questions (Q507-Q512):

NEW QUESTION # 507
Which of the following disclosures must the chief audit executive (CAE) include when communicating the results of the quality assurance and improvement program to senior management and the board?

A. Authority and responsibility of the internal audit activity
B. Scope and frequency of both the internal and external assessments
C. Hours and sources of continuing professional education
D. independence and objectivity impairments of the CAE

Answer: B

NEW QUESTION # 508
Which of the following actions is a chief audit executive most likely to take in order to identify gaps in the internal audit activity's knowledge, skills, and competencies?

A. Develop a competency assessment tool for the internal audit activity based on The IIA Global Internal Audit Competency Framework.
B. Develop an internal audit activity plan for training internal auditors to perform required assurance and consulting activities.
C. Incorporate the basic criteria for competency of the internal audit activity into the job descriptions of potential internal auditors,
D. Complete a skills assessment of the internal audit activity based on. The IIA Global Internal Audit Competency Framework.

Answer: D

Explanation:
The most likely action a chief audit executive would take to identify gaps in the internal audit activity's knowledge, skills, and competencies is to complete a skills assessment of the internal audit activity based on The IIA Global Internal Audit Competency Framework. This framework provides a structured and comprehensive approach to assess the current capabilities and identify any areas requiring improvement or development within the audit team.
The Institute of Internal Auditors (IIA) - Global Internal Audit Competency Framework.

NEW QUESTION # 509
A chief audit executive (CAE) has no direct access to the board. According to IIA guidance, which of the following is the most appropriate way for the CAE to react?

A. Focus on operational audit work and disregard lack of direct access to the members of the board.
B. Engage in written communications with the board and present relevant issues in writing
C. Ensure all subsequent audit reports include a disclaimer as to the lack of access to the board,
D. Initiate changes to the internal audit charter to report to senior management for the time being,

Answer: B

Explanation:
If a CAE has no direct access to the board, the most appropriate action, according to IIA guidance, is to maintain communication with the board through written communications. This method ensures that the board is informed of relevant audit findings and issues, upholding the governance role of the internal audit function even without direct access. This approach aligns with IIA standards on communicating and reporting to senior management and the board.
The Institute of Internal Auditors (IIA) - International Standards for the Professional Practice of Internal Auditing, specifically standards related to communication and reporting.

NEW QUESTION # 510
An organization is considering purchasing a new banking software system and has asked the internal audit activity to evaluate the system. An internal auditor assigned to perform the engagement worked at the software company two years ago and is familiar with the system's design strengths and weaknesses. Which of the following is true regarding impairment to the auditor's objectivity?

A. The auditor can provide only consulting services, not assurance.
B. The auditor should decline to perform the audit because personal conflicts of interest are likely.
C. The auditor must disclose to the chief audit executive that this situation may impair her objectivity.
D. This situation does not necessitate any action related to the auditor's objectivity.

Answer: C

NEW QUESTION # 511
According to IIA guidance, which of the following actions by a new chief audit executive would be most appropriate to gain an understanding of the current level of knowledge, skills, and competencies required by an internal audit activity to fulfill its responsibilities?

A. Assess whether members of the internal audit activity understand and apply the 11As mandatory guidance.
B. Have a quality assessment review performed by an expert external entity.
C. Identify gaps in the activity's proficiency, based on criteria defined by a widely accepted competency framework.
D. Identify a mature internal audit activity to serve as a benchmark for measuring the internal audit activity's competence.

Answer: C

NEW QUESTION # 512
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