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IIA IIA-CIA-Part1 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Fraud Risks	15%	- Fraud concepts and types 1. Asset misappropriation, corruption, financial statement fraud 2. Fraud triangle and fraud risk factors - Fraud risk assessment and prevention 1. Preventive and detective controls 2. Identifying and prioritizing fraud risks - Internal audit responsibilities regarding fraud 1. Investigation procedures and reporting 2. Detecting fraud indicators
Topic 2: Governance, Risk Management, and Control	30%	- Risk management 1. Risk appetite, assessment, and response 2. Risk management frameworks (e.g., COSO, ISO 31000) 3. Internal audit role in risk management - Governance frameworks and processes 1. Roles of board, management, and internal audit 2. Governance models and best practices - Internal control 1. Evaluating control effectiveness 2. Control frameworks and components 3. Types of controls and control activities
Topic 3: Ethics and Professionalism	20%	- Professional conduct and due care 1. Competence and continuing professional development 2. Due professional care in engagements - IIA Code of Ethics 1. Principles: integrity, objectivity, confidentiality, competency 2. Rules of conduct and application
Topic 4: Foundations of Internal Auditing	35%	- Quality assurance and improvement program 1. Requirements and scope of QAIP 2. Internal and external assessments 3. Conformance with Standards - Independence and objectivity 1. Individual objectivity and safeguards 2. Organizational independence and reporting lines 3. Impairments to independence/objectivity - Purpose, authority, and responsibility of internal auditing 1. Definition, mission, and core principles 2. Assurance vs. advisory services 3. Internal audit charter requirements

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IIA Internal Audit Fundamentals Sample Questions (Q553-Q558):

NEW QUESTION # 553
Which of the following best describes an appropriate form of working paper standardization?

A. Uniform cross referencing system.
B. Comprehensive data lists from information databases.
C. Customized layouts for each specific audit area.
D. Audit client review and approval.

Answer: A

NEW QUESTION # 554
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

A. Completing a process review to improve controls to prevent fraud
B. Interrogating a suspected fraudster
C. Employing audit tests to detect fraud.
D. Planning an engagement of the area in which fraud is suspected.

Answer: B

Explanation:
Engaging a fraud specialist is most likely required when interrogating a suspected fraudster. This specific activity demands specialized skills in interviewing and understanding behavioral cues that are outside the typical expertise of internal auditors. The use of fraud specialists ensures that interrogations are conducted effectively and that the information obtained is reliable, without compromising legal or ethical standards.
References: The Institute of Internal Auditors (IIA) - International Standards for the Professional Practice of Internal Auditing

NEW QUESTION # 555
In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?

A. The assurance review was initiated following issues identified during a consulting assignment requested by management.
B. A couple of years ago, the CAE performed accounting functions for the payroll department.
C. Prior to becoming the CAE, the CAE was the payroll manager.
D. The CAE previously undertook a consulting assignment in that area to improve processes,

Answer: C

Explanation:
It would be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function if, prior to becoming the CAE, the CAE was the payroll manager. This scenario poses a conflict of interest and impacts the objectivity required for assurance services, as the CAE might have inherent biases or a conflict due to previous roles and responsibilities within the payroll function.References: The Institute of Internal Auditors (IIA) - Code of Ethics and International Standards for the Professional Practice of Internal Auditing.

NEW QUESTION # 556
An engagement supervisor noted that an internal auditor's personal relationship with a process owner resulted in the auditor providing a favorable and partial assessment during an audit within that process owner's are a. According to MA guidance, which of the following should be used to manage this impairment?

A. An employee disciplinary policy.
B. A functional audit committee.
C. A functional reporting placement.
D. An internal audit charter.

Answer: D

NEW QUESTION # 557
Which of the following indicates an appropriate disclosure of a potential nonconformance with the Standards?

A. An external assessment of the internal audit activity was last performed six years ago.
B. An internal assessment is not performed every year.
C. The internal audit activity has been in existence for two years and has documented only an internal assessment.
D. The internal audit activity has been in existence for four years but has not performed an external assessment.

Answer: A

NEW QUESTION # 558
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