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IIA IIA-CIA-Part3 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Information Technology	20%	- Recognize principles of data privacy and their potential impact on data security policies and practices - Identify risk and control implications related to IT infrastructure and systems 1. Cloud computing 2. Databases 3. Business continuity and disaster recovery 4. Operating systems 5. Networking - Recognize existing and emerging cybersecurity threats and vulnerabilities 1. Malware 2. Ransomware 3. Phishing 4. Social engineering - Examine the role of data analytics in the audit process 1. Data analysis techniques 2. Continuous auditing 3. Data extraction - Explain the purpose and use of common information security and technology controls 1. Encryption 2. Firewalls 3. Biometrics 4. Digital signatures 5. Antivirus 6. Passwords 7. Multi-factor authentication 8. IT general controls - Recognize data governance and data management concepts
Topic 2: Common Business Processes	45%	- Describe the risk and control implications of supply chain management 1. Inventory management 2. Vendor management 3. Quality control - Recognize various forms and elements of contracts 1. Consideration 2. Unilateral and bilateral contracts 3. Formality 4. Fixed-price and cost-reimbursable contracts - Examine financial management concepts and their risk and control implications 1. Working capital management 2. Managerial accounting 3. Cost accounting 4. Financial analysis and decision-making 5. Capital budgeting and investment 6. Financial accounting and reporting - Describe business processes and their risk and control implications 1. Sales and marketing 2. Product development 3. Human resources 4. Logistics 5. Procurement 6. Management of outsourced processes - Identify risk and control implications of project management 1. Time/team/resources/cost management 2. Project plan and scope 3. Change management in projects 4. Project risk management
Topic 3: Financial Management	10%	- Identify risk and control implications of financial management 1. Working capital management 2. Foreign currency 3. Financial instruments 4. Capital structure and financing - Examine the risk and control implications of financial statement analysis 1. Ratio analysis 2. Common-size analysis 3. Trend analysis
Topic 4: Organizational Strategic Planning and Management	25%	- Identify risk and control implications related to leadership and mentoring 1. Building organizational commitment 2. Mentoring 3. Demonstrating entrepreneurial ability 4. Coaching 5. Guiding people 6. Providing constructive feedback - Analyze the organization's strategic planning process and its integration with the risk management strategy 1. Objective setting 2. Alternative strategies evaluation 3. Business context analysis 4. Risk appetite definition 5. Control environment 6. Alignment to the organization's mission and values - Identify the risk and control implications of different organizational structures 1. Matrix structures 2. Centralized versus decentralized 3. Flat versus traditional - Examine how performance measures and controls are used to assess achievement of organizational objectives 1. Balanced scorecard 2. Benchmarking 3. Key performance indicators (KPIs) - Examine organizational behavior and management principles 1. Motivation theories 2. Team dynamics 3. Change management 4. Conflict resolution 5. Leadership styles

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IIA Internal Audit Function Sample Questions (Q612-Q617):

NEW QUESTION # 612
One drawback of business process reengineering (BPR), sometimes referred to as business process analysis, is:

A. Excess of cost over the benefit.
B. Improved efficiency in the business processes analyzed.
C. Reduction of operational efficiency.
D. Employee resistance to change.

Answer: D

Explanation:
Business process reengineering (BPR), or business process analysis, involves process innovation and process redesign. Instead of improving existing procedures, it finds new ways of doing things. One major drawback of BPR is that employees may be resistant due to fear of layoffs, being replaced, or insecurity about new required skills or tasks that the employee now has to perform.

NEW QUESTION # 613
A traditional quality control process in manufacturing consists of mass inspection of goods only at the end of a production process. A major deficiency of the traditional control process is that:

A. It is not possible to rework defective items.
B. It is not 100% effective.
C. It is expensive to do the inspections at the end of the process.
D. It does not focus on improving the entire production process.

Answer: D

Explanation:
The process used to produce the goods is not thoroughly reviewed and evaluated for efficiency and effectiveness. Preventing defects and increasing efficiency by improving the production process raises quality standards and decreases costs.

NEW QUESTION # 614
An internal auditor discusses user-defined default passwords with the database administrator. Such passwords will be reset as soon as the user logs in for the first time, but the initial value of the password is set as
"123456." Which of the following are the auditor and the database administrator most likely discussing in this situation?

A. What happens in the period between the creation of the account and the password change.
B. Whether users should be trained on password management features and requirements.
C. What happens in the situations where users continue using the initial password.
D. Whether it would be more secure to replace numeric values with characters.

Answer: C

NEW QUESTION # 615
All of the following are objectives of pricing except:

A. Stabilization.
B. Image-oriented objectives.
C. Profit maximization.
D. Production maximization.

Answer: D

Explanation:
Pricing objectives may include maximization of profit and market share, price stabilization, and image enhancement. However, production maximization is not a pricing objective. It is more likely to be directed toward achieving economies of scale and resulting unit-cost reductions.

NEW QUESTION # 616
An internal auditor was asked to review an equal equity partnership. In one sampled transaction, Partner A transferred equipment into the partnership with a self-declared value of $10,000, and Partner B contributed equipment with a self-declared value of $15,000. The capital accounts of each partner were subsequently credited with $12,500. Which of the following statements is true regarding this transaction?

A. No action is necessary as the capital account of each partner was increased by the correct amount.
B. The capital accounts of the partners should be increased by the fair market value of their contribution.
C. The capital accounts should be increased using a weighted average based on the current percentage of ownership.
D. The capital accounts of the partners should be increased by the original cost of the contributed equipment.

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Partnership contributions should be recorded at their fair market value (FMV) at the time of contribution, ensuring equitable financial representation.
Option A (Original cost of the equipment) - Not appropriate since the asset's current fair value is relevant, not its historical cost.
Option B (Weighted average approach) - Not applicable; capital accounts should reflect actual contributed value.
Option C (No action necessary) - Incorrect because partners contributed assets of different values, making an equal capital credit unfair.
Since partnership accounting requires fair market value for capital accounts, Option D is correct.
Reference: IIA Financial Accounting - Partnership Equity Contributions

NEW QUESTION # 617
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