Books IIA-CIA-Part3 PDF, IIA-CIA-Part3 Interactive Practice Exam

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IIA IIA-CIA-Part3 Exam Syllabus Topics:

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

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IIA Internal Audit Function Sample Questions (Q226-Q231):

NEW QUESTION # 226
A supervisor receives a complaint from an employee who is frustrated about having to learn a new software program. The supervisor responds that the new software will enable the employee to work more efficiently and with greater accuracy. This response is an example of:

Answer: A


NEW QUESTION # 227
Which is the correct order of the following four steps in the accounting cycle?
Step 1 Prepare adjusting journal entries
Step 2 Take a post-closing trial balance
Step 3 Prepare an adjusted trial balance
Step 4 Prepare reversing entries

Answer: D

Explanation:
The accounting cycle may be summarized as consisting of nine steps: record the period's transactions in the appropriate journals, post to the ledger(s) from the journals, prepare an unadjusted trial balance, prepare and post adjusting journal entries, prepare an adjusted trial balance, prepare the financial statements, prepare and post the closing entries take a post-closing trial balance and prepare reversing entries optional). On January 1, a new landscaping firm. Bandit Co. acquired a fleet of vehicles, all the necessary tools and equipment. and a parking and storage facility. It began operations immediately. It is now the end of the first year of operations, and the first set of year-end financial statements are being prepared. Several decisions have to be made regarding the appropriate accounting and reporting practices for this company. Relevant information for several of these items is described in the following list of transactions and events: At year-end. the parking and storage facility that was purchased for US $150,000 has a fair value of US $250,000. The physical flow of inventory is first in. first out, and the cost of materials has risen steadily over the year. To promote sales for the coming year. maintenance contracts were sold in December at very reasonable prices, provided that the customers paid cash. On April 1, the company arranged a US $100,000. 10% bank loan. Interest payments of US $5,000 are due on October 1 and April 1 of each year during the 5-year term of the loan. During the first year of operations, the company experienced a 5% bad debt rate on credit sales. None of the bad debts are expected to be recovered, given that 5% is the industry average level of bad debts. Total credit sales for the year were US $400,000. The year-end balance of accounts receivable includes uncollected overdue accounts of US $100,000. Half of the uncollected overdue amounts are estimated to be uncollectible.


NEW QUESTION # 228
Which of the following statements is true regarding an investee that received a dividend distribution from an entity and is presumed to have little influence over the entity?

Answer: C


NEW QUESTION # 229
An internal auditor for a pharmaceutical company as planning a cybersecurity audit and conducting a risk assessment. Which of the following would be considered the most significant cyber threat to the organization?

Answer: C

Explanation:
When conducting a cybersecurity risk assessment, an internal auditor must evaluate the most significant threats based on their potential impact on the organization. In the pharmaceutical industry, intellectual property (IP), such as research and development (R&D) data, is one of the most valuable and sensitive assets.
* (A) Cybercriminals hacking into the organization's time and expense system to collect employee personal data:While the loss of employee personal data is a serious concern due to privacy and regulatory implications (e.g., GDPR, CCPA), it does not pose as critical a threat as the loss of proprietary pharmaceutical research.
* (B) Hackers breaching the organization's network to access research and development reports (Correct Answer):R&D reports contain proprietary drug formulas, clinical trial results, and patent- pending innovations, making them highly valuable to competitors and cybercriminals. A breach could lead to intellectual property theft, financial losses, loss of competitive advantage, and regulatory non- compliance (e.g., FDA, EMA requirements). This is considered the most significant threat because:
* It could result in billions of dollars in lost revenue.
* Competitors or state-sponsored hackers could exploit stolen research.
* It could disrupt drug development and approval processes.
* (C) A denial-of-service (DoS) attack that prevents access to the organization's website:While DoS attacks can damage an organization's reputation and disrupt operations, they generally do not cause the same level of financial or strategic harm as the loss of critical R&D data. Most organizations have cybersecurity measures (e.g., load balancers, CDNs) to mitigate DoS risks.
* (D) A hacker accessing the financial information of the company:Unauthorized access to financial data can be serious, leading to fraud or reputational damage. However, publicly traded companies already disclose much of their financial data, and financial breaches typically have a lower long-term impact compared to intellectual property theft.
* IIA Global Technology Audit Guide (GTAG) 15: Information Security Governance: Recommends that internal auditors prioritize risks that impact strategic assets, such as intellectual property.
* IIA Standard 2120 - Risk Management: Requires internal auditors to evaluate the organization's risk management processes, emphasizing risks with significant financial and operational consequences.
* IIA Practice Advisory 2110-2: Assessing the Adequacy of Risk Management Processes: Highlights that internal auditors must identify risks that could threaten the organization's long-term objectives, such as IP theft.
* COSO ERM Framework: Encourages prioritization of risks that have high impact on an organization' s value and strategic objectives, such as cyber threats to proprietary research.
Analysis of Each Option:IIA References:Conclusion:Given the pharmaceutical industry's reliance on proprietary R&D, a breach compromising research reports represents the most significant cyber threat.
Therefore, option (B) is the correct answer.


NEW QUESTION # 230
Which of the following is a systems software control?

Answer: D


NEW QUESTION # 231
......

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IIA-CIA-Part3 Interactive Practice Exam: https://www.newpassleader.com/IIA/IIA-CIA-Part3-exam-preparation-materials.html

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