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IIA IIA-CIA-Part1 Exam Syllabus Topics:

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

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IIA Internal Audit Fundamentals Sample Questions (Q713-Q718):

NEW QUESTION # 713
Which of the following statements is true regarding assurance services provided to clients outside of the organization?

A. Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.
B. Assurance services for outside clients are not covered under the internal audit charter.
C. The nature of assurance services for outside clients is the same as for internal clients.
D. The nature of assurance services for outside clients should be defined in the internal audit charter.

Answer: D

NEW QUESTION # 714
Which of the following is an example of impairment to internal auditor independence or objectivity'?

A. Internal auditors provide consulting services relating to operations for which they have current responsibilities
B. Assurance engagements for functions over which the chief audit executive (CAE) has responsibility are overseen by a party outside the internal audit activity
C. Consulting engagements for functions over which the CAE has responsibility are overseen by a party outside the internal audit activity
D. Internal auditors provide consulting services relating to operations for which they had previous responsibilities

Answer: A

NEW QUESTION # 715
Which of the following statements is true regarding control activities?

A. Control activities provide the foundation for the organization to establish its risk appetite.
B. Control activities are a precondition to setting risk tolerance levels.
C. Control activities are implemented by internal auditors to mitigate risks to an acceptable level.
D. Control activities are carried out by first-line and second-line functions to mitigate risks.

Answer: D

Explanation:
Control activities are indeed carried out by first-line (operational management) and second-line (risk management and compliance functions) to mitigate risks. These activities are key components of an organization's internal control system, designed to address and manage risks identified across the organization. Internal auditors do not implement control activities; instead, they assess the adequacy and effectiveness of these controls.
COSO Framework on Internal Control and IIA guidance on control activities.

NEW QUESTION # 716
Which of the following scenarios best illustrates the concept of due professional care?

A. As head of the internal audit activity, the chief audit executive reported functionally to the organization's board and administratively to senior management.
B. As head of the internal audit activity, the chief audit executive ensures that engagement supervisors conduct post-engagement staff meetings.
C. After conducting an audit based upon a predefined scope and objective, the internal auditor guaranteed management that the system of internal controls in an audited area operates effectively.
D. After establishing engagement objectives and reviewing a process, the internal auditor assured process owners that all significant risk events were identified and tested using a systematic, disciplined approach.

Answer: D

NEW QUESTION # 717
Which of the following should be considered in developing a risk and control model for use in an engagement?

A. The risk and control model should be developed individually by the auditor for use on individual audit projects within the planned engagement.
B. The risk and control model should be strictly adhered to in performing the engagement.
C. The risk and control model should be globally accepted by the profession.
D. The risk and control model should be tailored to the organization that will be the subject of the engagement.

Answer: D

Explanation:
Developing a risk and control model for an engagement should take into account the specific characteristics, processes, and risks of the organization being audited. Tailoring the model ensures that the controls are relevant and effective for the specific context of the organization, leading to a more accurate and useful audit outcome. References:
* IIA's International Professional Practices Framework (IPPF), particularly on risk-based auditing and control frameworks.

NEW QUESTION # 718
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