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IIA IIA-CIA-Part1 Exam Syllabus Topics:

Section	Weight	Objectives
VI. Fraud Risks (10%)	10%	- Explain the auditor's role in fraud prevention and detection - Explain the types of fraud - Describe fraud risk and fraud prevention
I. Foundations of Internal Auditing (15%)	15%	- Demonstrate conformance with the IIA Code of Ethics - Interpret the difference between assurance and consulting services - Interpret The IIA's Mission of Internal Audit, Definition of Internal Auditing, and Core Principles - Explain the requirements of an internal audit charter
IV. Quality Assurance and Improvement Program (7%)	7%	- Describe the mandatory elements of the QAIP - Explain the requirements of the internal and external assessments
V. Governance, Risk Management, and Control (35%)	35%	- Describe the components of the internal control system - Describe corporate social responsibility - Examine the effectiveness of risk management - Recognize and interpret ethics and compliance-related issues - Describe the concept of organizational governance - Examine the effectiveness of the internal control system - Interpret fundamental concepts of risk and the risk management process - Describe globally accepted risk management frameworks (COSO ERM, ISO 31000) - Recognize the impact of organizational culture on the control environment
III. Proficiency and Due Professional Care (18%)	18%	- Explain the requirement for continuing professional development - Explain the level of knowledge, skills, and competencies required - Demonstrate proficiency and due professional care - Explain the importance of due professional care
II. Independence and Objectivity (15%)	15%	- Determine the type of impairment to independence and objectivity - Interpret organizational independence - Assess and maintain individual objectivity - Demonstrate individual objectivity

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IIA-CIA-Part1 Test Guide Online - Original IIA-CIA-Part1 Questions

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IIA Internal Audit Fundamentals Sample Questions (Q71-Q76):

NEW QUESTION # 71
Which of the following is a role internal auditors should undertake related to risk management?

A. Evaluate the reporting of key risks
B. Impose risk management processes
C. Set the risk appetite
D. Implement risk responses on management's behalf

Answer: A

Explanation:
Internal auditors play a crucial role in evaluating the effectiveness of an organization's risk management processes. This includes assessing how well key risks are reported within the organization, whether through formal risk reporting mechanisms or less formal communications. Internal auditors review the processes by which these risks are identified, assessed, and managed, and they ensure that the information about these risks is accurately communicated to relevant stakeholders, including senior management and the board.References:
Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)

NEW QUESTION # 72
Which of the following internal controls best mitigates the risk of corruption schemes between employees and vendors?

A. Conducting regular examinations of documentation both paper and electronic.
B. Establishing policies that prohibit an employee from receiving gifts from an interested party.
C. Having employees sign annual attestations that they adhere to the organization's code of ethics.
D. Having strong management oversight of the purchasing and accounts payable functions.

Answer: D

Explanation:
Strong management oversight of the purchasing and accounts payable functions best mitigates the risk of corruption schemes between employees and vendors. This control ensures that transactions are reviewed and approved at appropriate levels, which helps prevent and detect collusion and corrupt practices.
IIA guidance on preventing and detecting corruption.

NEW QUESTION # 73
According to IIA guidance which of the following statements is true regarding the internal audit charier?

A. The charier should be re-approved every five years, in conjunction with the external quality assessment
B. The charier can be revised at the discretion of the CAE whenever 4 is determined that its content no longer supports the achievement of objectives
C. The charier should be revised and re-approved whenever a new chief audit executive (CAE) is appointed or at the request of the board
D. The charier should be reviewed and resubmitted for board approval annually together with the audit plan

Answer: D

Explanation:
According to IIA guidance, it is a best practice for the internal audit charter to be reviewed and resubmitted for board approval annually, along with the audit plan. This annual review ensures that the charter remains relevant and aligned with the organization's objectives and governance structure. It also provides an opportunity to update the charter to reflect any changes in the internal audit activity's role, responsibilities, or scope of work. This process helps maintain the charter as a living document that accurately defines the purpose, authority, and responsibility of the internal audit function.
The IIA Standards: Standard 1000 - Purpose, Authority, and Responsibility: "The chief audit executive must periodically review the internal audit charter and present it to senior management and the board for approval." The IIA Practice Guide: "Internal Audit Charter: Understanding

NEW QUESTION # 74
Which of the following internal control weaknesses would an auditor most likely detect while reviewing a flowchart that depicts the purchasing function of an organization?

A. The organization is not taking advantage of quantity discounts available from its suppliers.
B. Payments to suppliers are made before goods are received.
C. Payments for goods received have not been authorized at the appropriate level.
D. Purchasing policies have not been updated.

Answer: B

NEW QUESTION # 75
Which of the following internal control components has COSO identified as the most important?

A. Risk assessment
B. Control environment
C. Control activities
D. Information and communication

Answer: B

NEW QUESTION # 76
......

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