Actual IIA-CIA-Part1 Test | Vce IIA-CIA-Part1 Exam

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IIA IIA-CIA-Part1 Exam Syllabus Topics:

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

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Vce IIA IIA-CIA-Part1 Exam & Reliable IIA-CIA-Part1 Test Dumps

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IIA Internal Audit Fundamentals Sample Questions (Q127-Q132):

NEW QUESTION # 127
An internal auditor is using a spreadsheet application to review a cash flow forecast prepared by management.
Which of the following correctly identifies the type of evidence this information represents?

A. Competent, documentary evidence of future cash flow changes within the organization.
B. Competent, corroborative evidence of future working capital requirements.
C. Sufficient, analytical evidence of the cash flow position at a given point of time in the future.
D. Sufficient, circumstantial evidence of the future solvency of the organization.

Answer: A

NEW QUESTION # 128
Internal auditors exercise judgment about the type and amount of information to be collected. The primary purpose of this judgment is to:

A. Comply with the Standards.
B. Minimize the cost of the audit engagement.
C. Eliminate the risk of drawing incorrect conclusions.
D. Provide a sound basis for audit observations and recommendations.

Answer: D

NEW QUESTION # 129
Line management of a manufacturing operation requests an operational audit. They are seeking recommendations for policies and procedures to enhance control over the operation. What should the internal audit activity do?

A. Review the effectiveness of current policies and procedures but avoid making control recommendations due to impaired objectivity.
B. Turn down the engagement because an operational audit should not review policies and procedures.
C. Turn down the engagement because recommending controls would impair future objectivity regarding this client.
D. Perform the engagement and make appropriate recommendations for policies and procedures.

Answer: D

NEW QUESTION # 130
For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?

A. Chair should learn the current organizational culture of the company.
B. Chair should determine the appropriateness of the current strategic risks.
C. Chair should learn the current risk management system of the company.
D. Chair should gain an understanding of the needs of key stakeholders.

Answer: D

Explanation:
For a new board chair, the first step to ensure effective leadership involves gaining an understanding of the needs of key stakeholders. This foundational knowledge is critical as it shapes the chair's approach to governance, strategic alignment, and stakeholder engagement, providing a direct line of sight into the expectations and concerns that may influence the organization's direction.
Best governance practices and board leadership guidelines

NEW QUESTION # 131
In which of the following functions would fraud be most likely to occur?

A. Approving changes to employee records.
B. Preparing customer statements.
C. Maintaining custody of inventory records.
D. Collecting payments on accounts.

Answer: D

NEW QUESTION # 132
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