Hot IIA-CIA-Part3 Questions & Related IIA-CIA-Part3 Exams

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IIA IIA-CIA-Part3 Exam Syllabus Topics:

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

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IIA Internal Audit Function Sample Questions (Q407-Q412):

NEW QUESTION # 407
In which of the following plans is an employee most likely to find guidance on action and performance standards?

Answer: A


NEW QUESTION # 408
Which of the following is the most appropriate test to assess the privacy risks associated with an organization's workstations?

Answer: A


NEW QUESTION # 409
During the recessionary phase of a business cycle,

Answer: B

Explanation:
There are four phases of a business cycle: trough, recovery, peak, and recession. During the recessionary phase of a business cycle, economic activities and employment levels contract and society's resources are underused_ Because of the underuse of resources, potential national income will exceed actual national income.


NEW QUESTION # 410
The management and employees of a large household goods moving company decided to adopt total quality management (TQM) and continuous improvement (CI). The company believes that if it became nationally known as adhering to TQM and CI, one result would be an increase in the company's profits and market share.
The primary reason for adopting TQM was to achieve

Answer: D

Explanation:
TQM is an integrated system that anticipates, meets, and exceeds customers' needs, wants, and expectations.


NEW QUESTION # 411
Which of the following is required in effective IT change management?

Answer: C

Explanation:
* Effective IT Change Management Principles:
* Change management ensures that modifications to IT systems are controlled, tested, and implemented in a way that reduces risks.
* A structured and consistent process is required to prevent disruptions, maintain system integrity, and comply with governance requirements.
* IIA Standard 2110 - Governance:
* IT governance must include structured change management processes.
* Change management should be repeatable and standardized to ensure effectiveness.
* IIA GTAG (Global Technology Audit Guide) on Change Management:
* Change management must be conducted in a controlled environment to minimize unintended consequences and security risks.
* A. The sole responsibility for change management is assigned to an experienced and competent IT team. (Incorrect)
* While IT plays a key role, change management should involve multiple stakeholders, including business units, security, compliance, and risk management teams.
* IIA Standard 2120 - Risk Management states that risk oversight should not be assigned to a single function.
* C. Internal audit participates in the implementation of change management throughout the organization. (Incorrect)
* Internal audit evaluates change management but does not implement it.
* IIA Standard 1000 - Purpose, Authority, and Responsibility emphasizes that internal audit provides independent assurance rather than operational involvement.
* D. All changes to systems must be approved by the highest level of authority within an organization. (Incorrect)
* Approvals should be based on a risk-based hierarchy rather than requiring executive-level approval for all changes.
* IIA GTAG - Change Management recommends a tiered approval system based on change complexity and risk impact.
Explanation of Incorrect Answers:Conclusion:The most critical factor in effective IT change management is having a consistent, controlled process (Option B).
IIA References:
* IIA Standard 2110 - Governance
* IIA Standard 2120 - Risk Management
* IIA Standard 1000 - Purpose, Authority, and Responsibility
* IIA GTAG - Change Management


NEW QUESTION # 412
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