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IIA IIA-CIA-Part1 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Governance, Risk Management, and Control	30%	- Risk management 1. Internal audit role in risk management 2. Risk appetite, assessment, and response 3. Risk management frameworks (e.g., COSO, ISO 31000) - Internal control 1. Control frameworks and components 2. Types of controls and control activities 3. Evaluating control effectiveness - Governance frameworks and processes 1. Roles of board, management, and internal audit 2. Governance models and best practices
Topic 2: 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 - Quality assurance and improvement program 1. Conformance with Standards 2. Requirements and scope of QAIP 3. Internal and external assessments - Independence and objectivity 1. Individual objectivity and safeguards 2. Organizational independence and reporting lines 3. Impairments to independence/objectivity
Topic 3: 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
Topic 4: Fraud Risks	15%	- Fraud concepts and types 1. Fraud triangle and fraud risk factors 2. Asset misappropriation, corruption, financial statement fraud - Internal audit responsibilities regarding fraud 1. Detecting fraud indicators 2. Investigation procedures and reporting - Fraud risk assessment and prevention 1. Preventive and detective controls 2. Identifying and prioritizing fraud risks

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IIA Internal Audit Fundamentals Sample Questions (Q814-Q819):

NEW QUESTION # 814
The external auditor has recommended that the organization implement a risk management program. The organization's employees have no experience or formal risk management training.
Which of the following statements best justifies the decision to use the COSO enterprise risk management framework rather than the ISO 31000 approach?

A. COSO is succinct in length, making it easier to implement.
B. COSO presents specific guidance on a variety of tools and techniques.
C. COSO's principles-based approach provides superior guidance for organizations new to risk management.
D. COSO will allow a closer liaison with the external auditor.

Answer: C

NEW QUESTION # 815
According to IIA guidance, which of the following are considerations of due professional care when an internal auditor conducts a formal consulting engagement?
1. The complexity of the work required.
2. The needs and expectations of the client.
3. The potential value of the engagement compared to the effort.
4. Information regarding assumptions and procedures to be employed.

A. 1 and 4 only
B. 1, 2, and 3 only
C. 1, 2, 3, and 4
D. 2 and 3 only

Answer: B

Explanation:
Section: Volume F

NEW QUESTION # 816
Which of the following statements about risk assessment is true?

A. Risk assessment is the amount of inherent risk in a separately identifiable business entity.
B. Risk assessment evaluates risk both on an inherent and residual basis.
C. Risk assessment focuses on the quantitative evaluation of exposures.
D. Risk assessment determines the organization's tolerance for exposure.

Answer: B

NEW QUESTION # 817
Which of the following would be the most effective fraud prevention control?

A. Installation of a video surveillance system in a warehouse prone to inventory loss.
B. Daily report that identifies unsuccessful system log-in attempts
C. Email alert sent to management for checks issued over $100,000.
D. New hire training to explain fraud and employee misconduct.

Answer: C

Explanation:
The most effective fraud prevention control among the listed options is an email alert sent to management for checks issued over $100,000. This control directly addresses a potential high-risk area (large transactions) and ensures that transactions of significant amounts are reviewed and approved by management, thus providing a strong deterrent and detection mechanism for fraudulent activity.References: Common financial control practices and fraud prevention mechanisms in financial management.

NEW QUESTION # 818
What is the primary reason for establishing a continuing professional development program within an organization's internal audit activity?

A. To ensure all internal audit responsibilities can be met
B. To ensure that each auditor maintains responsibility for his own professional development.
C. To ensure all audit staff members are capable of performing a quality self-assessment.
D. To attract the best and most talented candidates in the profession

Answer: A

Explanation:
The primary reason for establishing a continuing professional development program within an organization's internal audit activity is to ensure all internal audit responsibilities can be met. This program aims to maintain and enhance the knowledge, skills, and abilities of the internal auditors so they can effectively perform their duties and adapt to changes in the profession or industry.References: IIA guidelines on continuing professional education and development.

NEW QUESTION # 819
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