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IIA IIA-CIA-Part1 Exam Syllabus Topics:

Section	Weight	Objectives
Governance, Risk Management, and Control	30%	- Internal control 1. Types of controls and control activities 2. Evaluating control effectiveness 3. Control frameworks and components - Governance frameworks and processes 1. Roles of board, management, and internal audit 2. Governance models and best practices - Risk management 1. Risk management frameworks (e.g., COSO, ISO 31000) 2. Internal audit role in risk management 3. Risk appetite, assessment, and response
Ethics and Professionalism	20%	- Professional conduct and due care 1. Due professional care in engagements 2. Competence and continuing professional development - IIA Code of Ethics 1. Principles: integrity, objectivity, confidentiality, competency 2. Rules of conduct and application
Fraud Risks	15%	- Fraud risk assessment and prevention 1. Preventive and detective controls 2. Identifying and prioritizing fraud risks - Fraud concepts and types 1. Fraud triangle and fraud risk factors 2. Asset misappropriation, corruption, financial statement fraud - Internal audit responsibilities regarding fraud 1. Investigation procedures and reporting 2. Detecting fraud indicators
Foundations of Internal Auditing	35%	- Independence and objectivity 1. Impairments to independence/objectivity 2. Individual objectivity and safeguards 3. Organizational independence and reporting lines - Quality assurance and improvement program 1. Requirements and scope of QAIP 2. Conformance with Standards 3. Internal and external assessments - Purpose, authority, and responsibility of internal auditing 1. Assurance vs. advisory services 2. Internal audit charter requirements 3. Definition, mission, and core principles

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IIA Internal Audit Fundamentals Sample Questions (Q557-Q562):

NEW QUESTION # 557
In addition to data protection, which of the following is a control that is typically used by companies to safeguard the privacy rights of their customers?
I. End-user computing.
II. Encryption of data.
III. Spyware.
IV. Intrusion detection.

A. I, II, and IV only
B. I and III only
C. II only
D. II and IV only

Answer: D

Explanation:
Section: Volume B

NEW QUESTION # 558
Which of the following statements is true regarding risk management frameworks?

A. The organization should ensure that it uses a universally-accepted risk management framework.
B. The organization should ensure that the board is responsible for implementing the risk management framework.
C. The organization should ensure that the risk management framework has been validated by the internal audit activity for implementation.
D. The organization should ensure that its risk management framework is designed specifically to meet the needs of its operations.

Answer: D

Explanation:
A risk management framework is a system for identifying, evaluating and prioritising risks and minimising their impact. There is no one-size-fits-all approach to risk management, as different organizations face different types and levels of risks depending on their industry, size, culture, objectives, and strategies. Therefore, the organization should ensure that its risk management framework is tailored to its specific needs and circumstances, and reflects its risk appetite and tolerance.

NEW QUESTION # 559
The chief audit executive's responsibility regarding control processes includes:

A. Ensuring that the internal audit activity assesses all control processes annually.
B. Overseeing the establishment of internal control processes.
C. Maintaining the organization's governance processes.
D. Assisting senior management and the audit committee in the development of an annual assessment about internal control.

Answer: D

Explanation:
Section: Volume A

NEW QUESTION # 560
An existing Internal audit charter is currently under review for revision. Who is responsible for assuring that all required components are included?

A. The chief audit executive.
B. Senior management.
C. The head of legal and compliance.
D. The audit committee.

Answer: A

Explanation:
The chief audit executive (CAE) is responsible for assuring that all required components are included in the internal audit charter. The CAE must ensure that the charter clearly defines the purpose, authority, and responsibility of the internal audit activity, and that it aligns with the standards set by the Institute of Internal Auditors (IIA). The CAE is also responsible for presenting the charter to senior management and the board for approval.
The IIA Standards: Standard 1000 - Purpose, Authority, and Responsibility: "The chief audit executive must periodically review the internal audit charter and present it to senior management and the board for approval." IIA Practice Guide: "Internal Audit Charter: Understanding the Components": Emphasizes the CAE's responsibility in developing and maintaining the charter.

NEW QUESTION # 561
An auditor is using audit software to check inventory accuracy. Which of the following would be an indicator of poor input edit controls?

A. Negative quantities on hand.
B. Reorder levels set too high.
C. Total dollar values of zero for some parts.
D. Alpha characters in the field for order lead time.

Answer: D

NEW QUESTION # 562
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