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IIA IIA-CIA-Part3 Exam Syllabus Topics:

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

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IIA Internal Audit Function Sample Questions (Q735-Q740):

NEW QUESTION # 735
The project charter is an output from which of the following?

Answer: C

Explanation:
The project charter is created during project initiation. It formally authorizes the project, identifies the project purpose, high-level objectives, sponsor, authority of the project manager, key stakeholders, major assumptions, constraints, and initial scope direction. Scope planning and scope definition occur after initiation and develop the detailed project scope and work breakdown structure. Scope verification occurs later when completed deliverables are reviewed and accepted. Internal auditors reviewing project governance should confirm that major projects have approved charters before significant work begins. A charter supports accountability, authorization, alignment with strategy, and control over project objectives. Therefore, Option D is correct.


NEW QUESTION # 736
The company receives a special order for 10,000 units at US $7.60. Variable selling cost for each of these 10,000 units will be US $1.20. This special order will not affect regular sales of 75.000 units. If the company accepts this special order, its profit will:

Answer: B

Explanation:
If the company accepts the special order, its revenue will increase by US $76,000 10,000 units x$7.60). However, its incremental cost will include only the variable costs because fixed manufacturing and selling costs will be unchanged. The increase in cost from accepting the special order is US $L 0,000 [10.000 units $3.00 + $1.00 + $0.80 +$1.20)]. Thus, acceptance of the special order will increase profits by US $16,000 $76,000 $60,000). A company manufactures and sells a single product. It takes two machine hours to produce unit. Annual sales are expected to be 75,000 units. Annual production capacity is 200,000 machine hours. Expected selling price is US $10 price unit. Cost data for manufacturing and selling the product are as follows:


NEW QUESTION # 737
A financial institution receives frequent and varied email requests from customers for funds to be wired out of their accounts. Which verification activity would best help the institution avoid falling victim to phishing?

Answer: C


NEW QUESTION # 738
An organization prepares a statement of privacy to protect customers' personal information. Which of the following might violate the privacy principles?

Answer: B

Explanation:
Organizations must comply with privacy principles that emphasize data retention limitations. Keeping personal data indefinitely violates privacy laws and regulations such as the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA).
* Privacy Regulations Require Data Minimization:
* GDPR Article 5(1)(e) states that personal data should only be kept for as long as necessary for the intended purpose.
* IIA GTAG 4: Management of IT Auditing also advises against excessive data retention.
* Security and Risk Concerns:
* Storing data indefinitely increases the risk of data breaches.
* IIA Standard 2110 - Governance emphasizes the need for proper information security governance to protect personal data.
* Legal and Compliance Issues:
* Organizations are required to define retention policies to prevent unauthorized or unnecessary storage of personal data.
* A. Customers can access and update personal information when needed. (Incorrect)
* Reason: Allowing customers to access and update their information aligns with privacy principles such as data accuracy and transparency.
* C. Customers reserve the right to reject sharing personal information with third parties.
(Incorrect)
* Reason: This supports data control rights, which is consistent with privacy standards like opt- in and opt-out policies.
* D. The organization performs regular maintenance on customers' personal information.
(Incorrect)
* Reason: Regular maintenance (e.g., updates, corrections, deletions) enhances data accuracy and security, aligning with privacy best practices.
* IIA Global Technology Audit Guide (GTAG) 4: Management of IT Auditing - Discusses data privacy principles.
* IIA Standard 2110 - Governance - Ensures data security and regulatory compliance.
* IIA GTAG 8: Auditing Application Controls - Covers data retention policies and privacy compliance.
* Privacy Regulations: GDPR (Article 5), CCPA (Section 1798.105) - Require organizations to delete data once it is no longer needed.
Why is Indefinite Retention a Violation?Analysis of Incorrect Answers:IIA References:Thus, the correct answer is B. The organization retains customers' personal information indefinitely.


NEW QUESTION # 739
Which of the following methods is most closely associated to year over year trends?

Answer: D


NEW QUESTION # 740
......

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