Exam IIA-CIA-Part1 Papers | IIA-CIA-Part1 Latest Braindumps Ppt

BONUS!!! Download part of RealExamFree IIA-CIA-Part1 dumps for free: https://drive.google.com/open?id=1ydSm4dVMmhWUso0GR-lfyab28egVHVPU

With these two Internal Audit Fundamentals IIA-CIA-Part1 practice exams, you will get the actual IIA IIA-CIA-Part1 exam environment. Whereas the RealExamFree PDF file is ideal for restriction-free test preparation. You can open this PDF file and revise IIA-CIA-Part1 Real Exam Questions at any time. Choose the right format of Internal Audit Fundamentals IIA-CIA-Part1 actual questions and start IIA IIA-CIA-Part1 preparation today.

IIA-CIA-Part1 (Essentials of Internal Auditing) Certification Exam is an essential certification for individuals who are interested in pursuing a career in the field of internal auditing. IIA-CIA-Part1 Exam is designed to test the knowledge and skills of candidates in areas such as internal control, risk management, and governance.

>> Exam IIA-CIA-Part1 Papers <<

IIA-CIA-Part1 Latest Braindumps Ppt | IIA-CIA-Part1 Latest Exam Cram

RealExamFree is a website that not the same as other competitor, because it provide all candidates with valuable IIA-CIA-Part1 exam questions, aiming to help them who meet difficult in pass the IIA-CIA-Part1 exam. Not only does it not provide poor quality IIA-CIA-Part1 Exam Materials like some websites, it does not have the same high price as some websites. If you would like to try IIA-CIA-Part1 learning braindumps from our website, it must be the most effective investment for your money.

IIA-CIA-Part1 exam is a three-hour exam consisting of 125 multiple-choice questions. IIA-CIA-Part1 exam is computer-based and is offered at Pearson VUE testing centers worldwide. The passing score for the exam is 600 out of 800, and candidates are allowed to retake the exam if they do not pass on the first try. Internal Audit Fundamentals certification is valid for three years, after which candidates must recertify by either retaking the exam or completing continuing education credits. Overall, the IIA-CIA-Part1 certification is a valuable credential for those who wish to demonstrate their knowledge and expertise in internal auditing.

IIA-CIA-Part1 exam is an entry-level exam that tests an individual's knowledge of internal auditing basics. IIA-CIA-Part1 Exam covers various topics, including governance and risk management, internal control and audit tools, and techniques. IIA-CIA-Part1 exam comprises 125 multiple-choice questions, and candidates have two and a half hours to complete it. The IIA-CIA-Part1 exam is a computer-based exam, and candidates can take it at any Pearson VUE testing center. Upon passing the IIA-CIA-Part1 exam, candidates are one step closer to obtaining their CIA certification, which can help them advance their careers in the field of internal auditing.

IIA Internal Audit Fundamentals Sample Questions (Q177-Q182):

NEW QUESTION # 177
A multinational organization has asked the internal audit activity to assist in setting up the organization's risk management system. The chief audit executive (CAE) agrees to take on the engagement as a consultant.
Which of the following tasks is appropriate for the CAE to undertake?

A. Determine the number of significant risks for management to report to the board.
B. Coordinate and facilitate risk workshops for management to attend.
C. Establish the degree of risk appetite for management to accept.
D. Set risk indicators and mitigation plans for management to implement.

Answer: A

NEW QUESTION # 178
Which of the following best demonstrates the board of directors' governance over internal control?

A. The board may be assisted by an audit committee, chaired by the chief audit executive.
B. The board is responsible for succession planning for the CEO and other key members of the executive management team.
C. The board bears direct responsibility for developing and implementing the internal control system.
D. The majority of board members are experienced and qualified members of the organization's executive management team.

Answer: B

Explanation:
This option best demonstrates the board of directors' governance over internal control by illustrating their role in ensuring the continuity and integrity of leadership, which is a crucial aspect of the internal control environment. Succession planning, especially for top leadership positions, is a critical governance role that impacts the organization's strategy and risk management practices.References: Institute of Internal Auditors (IIA) - Guidelines on Governance Roles of Boards

NEW QUESTION # 179
Which of the following scenarios violates The IIA's standard regarding internal audit independence?

A. The CAE regularly meets with the organization's chief risk officer, who validates all reported audit findings and dictates which will be Included In the package to the audit committee.
B. An assessment of the risk management function is reviewed by an outside consulting firm because the CAE is temporarily fulfilling the role of risk manager.
C. The internal audit activity will experience staffing shortages for the next six months due to planned and unplanned leaves of absence; therefore the CAE proposed including fewer audits in the annual audit plan compared to the previous financial year.
D. The chief audit executive (CAE) reports on the internal audit activity's day-to-day tasks and responsibilities to the CEO.

Answer: A

Explanation:
This scenario violates The IIA's standards regarding internal audit independence because the chief risk officer's involvement in validating and dictating which audit findings are included in the audit committee reports undermines the independence of the internal audit activity. Independence is compromised when audit findings are subject to alteration or selection by another party within the organization, particularly one involved in managing risks that the audit may be assessing.
The IIA's International Standards for the Professional Practice of Internal Auditing, specifically standards related to independence.

NEW QUESTION # 180
The chief audit executive (CAE) planned an in-person group training to help internal auditors perform onsite inspections of an automobile manufacturing facility. The training would have allowed the auditors to better understand the production of the organization's automobiles. However, a global health crisis has impacted the training by prohibiting in-person contact at the facility. Which of the following could the CAE use to provide auditors with a better understanding of the organization s production process?

A. A virtual meeting with management that explains the production of automobiles
B. Industry publications that discuss production methods
C. Self-study courses on the industry's production practices
D. A general web-based training on auditing manufacturing processes.

Answer: A

NEW QUESTION # 181
An Internal auditor noted that many amended purchase orders were automatically created for discrepancies between the value of the original purchase order and the final invoice.
Further examination revealed that most differences resulted from rounding errors bulk weights or minor tariff adjustments for shipping.
Which of the followtng IS the most reasonable conclusion for the Internal auditor regarding this control?

A. The control IS ineffective but efficient.
B. The control IS both Ineffective and Inefficient
C. The control is both effective and efficient
D. The control IS effective but inefficient

Answer: D

Explanation:
A control is effective when it achieves its intended objective, such as preventing or detecting errors or fraud.
A control is efficient when it minimizes the cost and effort required to achieve its objective2.
In this case, the control of automatically creating amended purchase orders is effective because it ensures that the discrepancies between the original purchase order and the final invoice are resolved.
However, the control is inefficient because it generates too many amended purchase orders for minor differences that may not be material or significant. This may result in unnecessary administrative burden, delays, and waste of resources3.
A more efficient control would be to set a threshold or tolerance level for the discrepancies and only create amended purchase orders when the difference exceeds that level4.
Internal audit requests access to write and export specialized reports from the organization's database to aid with testing and analysis.

NEW QUESTION # 182
......

IIA-CIA-Part1 Latest Braindumps Ppt: https://www.realexamfree.com/IIA-CIA-Part1-real-exam-dumps.html

BONUS!!! Download part of RealExamFree IIA-CIA-Part1 dumps for free: https://drive.google.com/open?id=1ydSm4dVMmhWUso0GR-lfyab28egVHVPU