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| Certification Vendor: | IIA |
|---|---|
| Exam Name: | Certified Internal Auditor (CIA) Part 2 โ Practice of Internal Auditing |
| Exam Number: | IIA-CIA-Part2 |
| Certificate Validity Period: | CIA certification requires ongoing CPE; no fixed expiry for exam results within 3-year program window |
| Passing Score: | 600 (scaled score, range 250-750) |
| Related Certifications: | Certified Internal Auditor (CIA) |
| Exam Price: | USD 280 (IIA Member) / USD 415 (Non-Member) / USD 215 (Student) |
| Exam Duration: | 120 minutes |
| Available Languages: | Turkish, Korean, French, Russian, Chinese (Simplified), English, Portuguese, German, Spanish, Japanese |
| Exam Format: | Multiple-choice |
| Real Exam Qty: | 100 |
| Sample Questions: | IIA IIA-CIA-Part2 Sample Questions |
| Exam Way: | Computer-based testing at Pearson VUE testing centers worldwide; also available via online proctored delivery |
| Pre Condition: | Candidates must hold an active CIA program enrollment. A bachelor's degree (or equivalent) and relevant internal audit experience are required for full CIA certification. Part 1 must typically be completed before or concurrently with Part 2. |
| Official Syllabus URL: | https://www.theiia.org/globalassets/site/certifications/certified-internal-auditor/cia-part-2-syllabus.pdf |
>> Exam IIA-CIA-Part2 Preparation <<
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IIA-CIA-Part2 exam is an essential certification that focuses on the Practice of Internal Auditing. IIA-CIA-Part2 exam is designed to evaluate the candidate's knowledge and expertise in the field of internal auditing. Internal Audit Engagement certification is offered by the Institute of Internal Auditors (IIA) and is recognized worldwide.
IIA-CIA-Part2 exam consists of 100 multiple-choice questions and has a duration of two hours and forty-five minutes. IIA-CIA-Part2 exam is computer-based and is available at Pearson VUE testing centers worldwide. Candidates must achieve a score of 600 or higher to pass the exam and earn the IIA-CIA-Part2 Certification. IIA-CIA-Part2 exam content is regularly reviewed and updated to ensure that it remains relevant to the changing needs of the internal audit profession.
To be eligible to take the IIA-CIA-Part2 exam, candidates must have a minimum of two years of experience in internal auditing or a related field. They must also have completed the IIA-CIA-Part1 (Essentials of Internal Auditing) exam. Candidates who pass the IIA-CIA-Part2 exam and meet the other requirements for certification will earn the CIA designation, which is recognized globally as a mark of excellence in the field of internal auditing.
NEW QUESTION # 760
Due to price risk from the foreign currency purchase of aviation fuel, an airliner has purchased forward contracts to hedge against fluctuations in the exchange rate. When recalculating the exchange losses from individual purchases of jet fuel, which of the following details does the internal auditor need to validate?
1. The hedge documentation designating the hedge.
2. The spot exchange rate on the transaction date.
3. The terms of the forward contract.
4. The amount of fuel purchased.
Answer: A
NEW QUESTION # 761
The newly appointed chief audit executive (CAE) of a large multinational corporation, with seasoned internal audit departments located around the world, is reviewing responsibilities for engagement reports. According to IIA guidance, which of the following statements is true?
Answer: A
Explanation:
According to IIA guidance, the CAE has the ultimate responsibility for the internal audit activity but may delegate tasks such as reviewing, approving, and signing engagement reports to qualified internal audit staff.
This delegation helps in managing workload and leveraging expertise within the team. However, the CAE should still periodically review the reports to maintain oversight and ensure quality. References: = IIA Standard 2060 - Reporting to Senior Management and the Board, and Standard 2400 - Communicating Results.
NEW QUESTION # 762
The chief audit executive's responsibility regarding control processes includes:
Answer: C
NEW QUESTION # 763
During the planning phase of an audit of the treasury function, an internal auditor conducted a risk assessment of the function in order to:
Answer: D
NEW QUESTION # 764
An internal auditor completed a consulting engagement covering a recent advertising campaign. The audit client asked the auditor to forward a copy of the report to one of the three advertising agencies used by the organization. According to IIA guidance, which of the following statements is true regarding this request?
Answer: D
Explanation:
When dealing with the communication of audit results to external parties, the internal auditor must adhere to IIA standards regarding confidentiality, approval processes, and the appropriate handling of sensitive information.
IIA Standard 2440 - Disseminating Results:
This standard outlines that the chief audit executive (CAE) must approve the communication of engagement results to parties outside the organization. The CAE is responsible for ensuring that the distribution of audit findings is appropriate and does not compromise confidentiality or integrity.
Confidentiality and Authorization:
The internal auditor must protect the confidentiality of the information obtained during the audit. Sharing this information with external parties, such as an advertising agency, should only occur with proper authorization, typically from the CAE.
IIA Code of Ethics - Confidentiality:
The Code of Ethics requires auditors to respect the value and ownership of information they receive and to not disclose information without appropriate authority. In this case, if the audit client requests the report to be shared with an external party, the internal auditor must first obtain approval from the CAE to ensure this disclosure is appropriate.
Option B (May not communicate results): While confidentiality is crucial, the CAE can authorize the sharing of information with external parties if it is deemed appropriate.
Option C (Include instructions for limited distribution): While limiting further distribution is a good practice, the initial sharing still requires the CAE's approval.
Option D (Verbal communication only): This restricts the auditor unnecessarily. The key is obtaining proper authorization, not limiting the form of communication.
Detailed Explanation:Why Not Other Options?Conclusion: Option A is correct as it ensures that the results can be communicated to the external party with the appropriate approval from the CAE, in line with IIA standards on dissemination and confidentiality.
NEW QUESTION # 765
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