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IIA IIA-CIA-Part3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Information Technology20%- Examine the role of data analytics in the audit process
  • 1. Data analysis techniques
  • 2. Data extraction
  • 3. Continuous auditing
- Recognize existing and emerging cybersecurity threats and vulnerabilities
  • 1. Ransomware
  • 2. Malware
  • 3. Social engineering
  • 4. Phishing
- Identify risk and control implications related to IT infrastructure and systems
  • 1. Networking
  • 2. Cloud computing
  • 3. Databases
  • 4. Business continuity and disaster recovery
  • 5. Operating systems
- Recognize principles of data privacy and their potential impact on data security policies and practices
- Explain the purpose and use of common information security and technology controls
  • 1. Encryption
  • 2. Multi-factor authentication
  • 3. Digital signatures
  • 4. Biometrics
  • 5. Firewalls
  • 6. Passwords
  • 7. IT general controls
  • 8. Antivirus
- Recognize data governance and data management concepts
Topic 2: Common Business Processes45%- Describe the risk and control implications of supply chain management
  • 1. Vendor management
  • 2. Inventory management
  • 3. Quality control
- Examine financial management concepts and their risk and control implications
  • 1. Financial analysis and decision-making
  • 2. Financial accounting and reporting
  • 3. Capital budgeting and investment
  • 4. Cost accounting
  • 5. Managerial accounting
  • 6. Working capital management
- Identify risk and control implications of project management
  • 1. Time/team/resources/cost management
  • 2. Project risk management
  • 3. Project plan and scope
  • 4. Change management in projects
- Recognize various forms and elements of contracts
  • 1. Consideration
  • 2. Formality
  • 3. Unilateral and bilateral contracts
  • 4. Fixed-price and cost-reimbursable contracts
- Describe business processes and their risk and control implications
  • 1. Human resources
  • 2. Logistics
  • 3. Product development
  • 4. Management of outsourced processes
  • 5. Procurement
  • 6. Sales and marketing
Topic 3: Financial Management10%- Identify risk and control implications of financial management
  • 1. Foreign currency
  • 2. Capital structure and financing
  • 3. Financial instruments
  • 4. Working capital management
- Examine the risk and control implications of financial statement analysis
  • 1. Common-size analysis
  • 2. Ratio analysis
  • 3. Trend analysis
Topic 4: Organizational Strategic Planning and Management25%- Examine how performance measures and controls are used to assess achievement of organizational objectives
  • 1. Key performance indicators (KPIs)
  • 2. Benchmarking
  • 3. Balanced scorecard
- Identify risk and control implications related to leadership and mentoring
  • 1. Guiding people
  • 2. Demonstrating entrepreneurial ability
  • 3. Coaching
  • 4. Building organizational commitment
  • 5. Mentoring
  • 6. Providing constructive feedback
- Identify the risk and control implications of different organizational structures
  • 1. Centralized versus decentralized
  • 2. Matrix structures
  • 3. Flat versus traditional
- Analyze the organization's strategic planning process and its integration with the risk management strategy
  • 1. Alignment to the organization's mission and values
  • 2. Alternative strategies evaluation
  • 3. Objective setting
  • 4. Business context analysis
  • 5. Control environment
  • 6. Risk appetite definition
- Examine organizational behavior and management principles
  • 1. Change management
  • 2. Leadership styles
  • 3. Motivation theories
  • 4. Team dynamics
  • 5. Conflict resolution

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IIA Internal Audit Function Sample Questions (Q269-Q274):

NEW QUESTION # 269
Which of the following would most likely serve as a foundation for individual operational goats?

Answer: A


NEW QUESTION # 270
An internal auditor is evaluating an organization's business continuity management program According to HA guidance on IT. which of the following tests would best demonstrate the ability to perform Key processes without significant problems?

Answer: B


NEW QUESTION # 271
Which of these instances accurately describes the responsibilities for big data governance?

Answer: A

Explanation:
In the context of big data governance, the responsibilities of various stakeholders are delineated as follows:
A). Management's Responsibilities:
Management holds the primary responsibility for establishing and maintaining effective data governance frameworks. This includes ensuring that information storage systems are appropriately defined and that processes for updating critical data elements are clear and well-documented. Such measures are essential to maintain data integrity, availability, and confidentiality. The Institute of Internal Auditors (IIA) emphasizes that management is accountable for the design and implementation of data governance structures, policies, and procedures. These structures should encompass data storage solutions and the mechanisms for updating and managing critical data elements.
The Institute of Internal Auditors
B). External Auditors' Responsibilities:
External auditors are tasked with providing independent assurance on the effectiveness of an organization's financial reporting and related controls. While they may consider the implications of big data on financial reporting, their primary focus is not on the periodic monitoring and maintenance of analytical models. Instead, this responsibility typically falls under management or specialized internal functions. The IIA outlines that external auditors assess the overall control environment but do not directly manage or maintain analytical models.
C). The Board's Responsibilities:
The board of directors provides oversight and strategic direction for the organization's data governance initiatives. However, the implementation of specific controls around data quality dimensions is generally delegated to management. The board ensures that appropriate governance structures are in place and that management is effectively addressing data quality and governance issues. According to the IIA, the board's role is to oversee the data governance framework, ensuring that management has implemented effective controls and processes.
The Institute of Internal Auditors
D). Internal Auditors' Responsibilities:
Internal auditors provide independent assurance on the effectiveness of governance, risk management, and control processes, including those related to data quality and security. While they assess and report on the adequacy of controls over data, the responsibility for ensuring data quality and security rests with management. The IIA states that internal auditors evaluate the effectiveness of data governance practices but do not hold primary responsibility for data quality and security.
The Institute of Internal Auditors
In summary, option A accurately reflects management's responsibility in big data governance, aligning with the IIA's guidelines on data governance roles and responsibilities.


NEW QUESTION # 272
Management of a bookkeeping company observed that the average time spent to perform identical tasks using a new software package decreases as the number of tasks performed increases. The following information on the use of the new software was collected.

If this learning effect continues, what is the average time to perform each of the first eight tasks?

Answer: B

Explanation:
Learning curves reflect the increased rate at which people perform tasks as they gain experience. The time required to perform a given task becomes progressively shorter. This technique is applicable only to the early stages of production or to any new task. One common assumption is that the cumulative average time per unit is reduced by a fixed percentage each time cumulative production is doubled. Based on the given data, this company has a 90% learning curve (90% x 10 minutes = 9 minutes, and 90% x 9 minutes =
8.1 minutes). Accordingly, the cumulative average time to perform eight tasks is 7.29 minutes (90% x 8.1 minutes).


NEW QUESTION # 273
Which of the following should be included m a company's year-end inventory valuation?

Answer: A


NEW QUESTION # 274
......

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