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IIA IIA-CIA-Part3 Exam Syllabus Topics:

Section	Weight	Objectives
Organizational Strategic Planning and Management	25%	- Identify risk and control implications related to leadership and mentoring 1. Mentoring 2. Guiding people 3. Coaching 4. Demonstrating entrepreneurial ability 5. Building organizational commitment 6. Providing constructive feedback - Examine how performance measures and controls are used to assess achievement of organizational objectives 1. Benchmarking 2. Key performance indicators (KPIs) 3. Balanced scorecard - Identify the risk and control implications of different organizational structures 1. Flat versus traditional 2. Matrix structures 3. Centralized versus decentralized - Examine organizational behavior and management principles 1. Motivation theories 2. Change management 3. Leadership styles 4. Conflict resolution 5. Team dynamics - Analyze the organization's strategic planning process and its integration with the risk management strategy 1. Business context analysis 2. Risk appetite definition 3. Alignment to the organization's mission and values 4. Alternative strategies evaluation 5. Objective setting 6. Control environment
Common Business Processes	45%	- Describe business processes and their risk and control implications 1. Logistics 2. Product development 3. Management of outsourced processes 4. Sales and marketing 5. Procurement 6. Human resources - Recognize various forms and elements of contracts 1. Fixed-price and cost-reimbursable contracts 2. Consideration 3. Unilateral and bilateral contracts 4. Formality - Identify risk and control implications of project management 1. Change management in projects 2. Project plan and scope 3. Project risk management 4. Time/team/resources/cost management - Describe the risk and control implications of supply chain management 1. Inventory management 2. Quality control 3. Vendor management - Examine financial management concepts and their risk and control implications 1. Cost accounting 2. Financial accounting and reporting 3. Working capital management 4. Financial analysis and decision-making 5. Managerial accounting 6. Capital budgeting and investment
Financial Management	10%	- Examine the risk and control implications of financial statement analysis 1. Common-size analysis 2. Trend analysis 3. Ratio analysis - Identify risk and control implications of financial management 1. Foreign currency 2. Working capital management 3. Financial instruments 4. Capital structure and financing
Information Technology	20%	- Recognize data governance and data management concepts - Explain the purpose and use of common information security and technology controls 1. Antivirus 2. Multi-factor authentication 3. Digital signatures 4. IT general controls 5. Encryption 6. Firewalls 7. Biometrics 8. Passwords - Identify risk and control implications related to IT infrastructure and systems 1. Business continuity and disaster recovery 2. Databases 3. Cloud computing 4. Networking 5. Operating systems - 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 existing and emerging cybersecurity threats and vulnerabilities 1. Social engineering 2. Malware 3. Ransomware 4. Phishing

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IIA Internal Audit Function Sample Questions (Q535-Q540):

NEW QUESTION # 535
A plot of land is acquired in exchange for US $250,000 cash and a noninterest-bearing note with a face amount of US $1,000.000 on January 1 of the current year. The US $1,000,000 is payable in installments of US $250,000 each, with the first installment due December 31 of the current year. With regard to imputing interest on this note what market rate should be used to account for interest for the current year and2) what should be done in future years when there is a change in prevailing interest rates?

A. Option A
B. Option D
C. Option B
D. Option C

Answer: A

Explanation:
Determination of the imputed interest rate is made at the time the debt instrument is issued. Subsequent to initial recognition, most financial liabilities are measured at amortized cost using the effective interest method. Exceptions are those1) classified as at fair value through profit or loss or2) arising when a transfer of a financial asset does not qualify for derecognition or is accounted for on a continuing involvement basisIAS 39). Consequently, a change in the prevailing market rate does not affect the measurement of the noninterestbearing note given for the land.

NEW QUESTION # 536
Focusing on customers, promoting innovation, learning new philosophies, driving out fear, and providing extensive training are all elements of a major change in organizations. These elements are aimed primarily at:

A. Focusing on the total quality of products and services.
B. Copying leading organizations to better compete with them.
C. Being efficient and effective at the same time, in order to indirectly affect profits.
D. Managing costs of products and services better, in order to become the low-cost provider.

Answer: A

Explanation:
TOM is a comprehensive approach to quality. It treats the pursuit of quality as a basic organizational function that is as important as production or marketing. TOM is the continuous pursuit of quality in every aspect of organizational activities through a philosophy of doing it right the first time, employee training and empowerment, promotion of teamwork, improvement of processes, and attention to satisfaction of customers, both internal and external. TOM emphasizes the supplier's relationship with the customer, identifies customer needs, and recognizes that everyone in a process is at some time a customer or supplier of someone else, either inside or outside of the organization.

NEW QUESTION # 537
The primary reason for adopting TOM was to achieve:

A. Reduced delivery charges.
B. Reduced delivery time.
C. Greater employee participation.
D. Greater customer satisfaction.

Answer: D

Explanation:
TOM is an integrated system that anticipates, meets, and exceeds customers needs, wants, and expectations. The management and employees of a large household goods moving company decided to adopt total quality management TOM) and continuous improvement CI). The company believes that if it became nationally known as adhering to TOM and CI, one result would be an increase in the company's profits and market share.

NEW QUESTION # 538
A company purchased US $50,000 worth of office supplies on January 1st and had US $15,000 of office supplies still on hand at year-end. If the initial purchase of supplies entry on January 1st was to debit office supplies expense and to credit cash for US $50,000 the adjusting entry on December 31 will be:

A. Office supplies US $15,000 Office supplies dividends US $15,000
B. Office supplies US $35,000 Office supplies dividends US $35,000
C. Office supplies expense US $35,000 Office supplies US $35,000
D. Office supplies dividends US $15,000 Office supplies US $15,000

Answer: A

Explanation:
Because the initial entry recorded the entire purchase to a nominal account. the year-end adjusting entry must debit a prepaid asset to reflect the remaining supplies on hand of US $15.000. The adjusting entry must also credit reduce) expenses for the US $15.000 of supplies that were not used during the period.

NEW QUESTION # 539
For which of the following scenarios would the most recent backup of the human resources database be the best source of information to use?

A. An incorrect program fix was implemented just prior to the database backup.
B. The organization is preparing to train all employees on the new self-service benefits system.
C. There was a data center failure that requires restoring the system at the backup site.
D. There is a need to access prior year-end training reports for all employees in the human resources database

Answer: C

Explanation:
The most recent backup is primarily used to restore lost data in the event of a system failure, data corruption, or cyberattack. If a data center failure occurs, the latest backup is the best source to recover the human resources database and resume operations.
* (A) Incorrect - An incorrect program fix was implemented just prior to the database backup.
* If an incorrect fix was applied before the backup, restoring the latest backup would still contain the error.
* The organization would need to restore an earlier version before the faulty update.
* (B) Incorrect - The organization is preparing to train all employees on the new self-service benefits system.
* The latest backup is not needed for training; the live system or historical data would be used instead.
* (C) Correct - There was a data center failure that requires restoring the system at the backup site.
* In the event of a system failure, restoring from the most recent backup minimizes data loss and downtime.
* This is the primary reason for maintaining regular backups.
* (D) Incorrect - There is a need to access prior year-end training reports for all employees in the human resources database.
* Historical records would likely be stored in archived backups or reports, not the latest backup.
* The most recent backup contains current data, not old reports.
* IIA's GTAG (Global Technology Audit Guide) - IT Disaster Recovery and Backup Strategies
* Covers the importance of backups in system restoration.
* NIST Cybersecurity Framework - Data Recovery and Business Continuity
* Recommends frequent backups to protect against system failures.
* ISO 22301 - Business Continuity Management
* Defines recovery procedures and best practices for backup site restoration.
Analysis of Answer Choices:IIA References and Internal Auditing Standards:

NEW QUESTION # 540
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