Most Recent IIA-CIA-Part1 Exam Dumps

Prepare for the IIA Certified Internal Auditor Exam exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the IIA-CIA-Part1 exam and achieve success.

The questions for IIA-CIA-Part1 were last updated on Mar 31, 2025.

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Question No. 1

Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?

AInternal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization's control processes.

BQuality assessments focus on the internal audit activity's structure, relationships with stakeholders, compliance with the Standards, and internal audit staff proficiency.

CIn order to comply with the Standards, the internal audit activity must obtain an objective assessment of its processes and function at least once a year.

DInternal auditors completing internal assessments must demonstrate certification to perform quality assessments.

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Correct Answer: B

The most accurate statement with respect to the required elements of the quality assurance and improvement program is that quality assessments focus on the internal audit activity's structure, relationships with stakeholders, compliance with the Standards, and internal audit staff proficiency. This description aligns with the IIA's standards on quality assurance, emphasizing the comprehensive scope of internal assessments, which are integral for ensuring the internal audit function operates effectively and adheres to professional standards. Reference: IIA's International Standards for the Professional Practice of Internal Auditing and Guidance on Quality Assurance.

Question No. 2

Which of the following actions best demonstrates an internal auditor exercising due professional care?

ATesting an entire population, even when a sample would suffice

BUsing technology and data analysis techniques for efficiency

CEnhancing knowledge, skills, and other competencies through professional development

CEstablishing audit objectives, performing audit tests, and implementing missing controls

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Correct Answer: C, C

An internal auditor exercises due professional care by enhancing knowledge, skills, and other competencies through ongoing professional development. This action is essential to maintain the necessary proficiency and competency in performing audit tasks, thereby ensuring the quality and effectiveness of the audit work aligns with professional standards and meets the evolving needs of the organization. Reference: Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)

Question No. 3

Which of the following situations is most likely to prompt the internal audit activity to disclose its nonconformance with the Standards?

AOne of the organization's senior internal auditors owns a side business, though to date, no sales have been made to this business.

BThe annual internal audit plan includes performance audits of main business processes, but reviews of high-risk development projects were not considered.

CThe internal audit activity committed to carrying out an audit of documentation on investment hedging, and a hedging expert was contracted to assist with the engagement.

DA periodic quality self-assessment of the internal audit activity identified a number of improvement areas with regard to key performance indicators.

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Correct Answer: B

The internal audit activity must align its activities with the organization's risks. Not considering high-risk development projects in the audit plan could indicate nonconformance with the Standards, specifically regarding risk-based planning. The Standards require internal audit to consider all significant risks when developing the audit plan, and failing to do so may require disclosure of nonconformance. Reference: The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), specifically Standard 2010 - Planning, and Standard 1300 - Quality Assurance and Improvement Program.

Question No. 4

Which of the following best demonstrates conformance with the Standards regarding the internal audit activity's purpose authority, and responsibility?

ADiscussion and formal presentation of the internal audit charter to the board of directors

BCertification by external auditors on the purpose, authority and responsibility of the internal audit activity

CApproval of senior management that the internal audit activity is functioning as originally designed

DSelf-assessment of the internal audit activity completed by the chief audit executive

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Correct Answer: A

The best demonstration of conformance with the Standards regarding the internal audit activity's purpose, authority, and responsibility is the discussion and formal presentation of the internal audit charter to the board of directors. This ensures that the board is fully aware of and agrees with the internal audit's defined role within the organization, thereby establishing a clear basis for its operations and scope of work. Reference: The IIA's International Standards for the Professional Practice of Internal Auditing on Charter requirements.

Question No. 5

Which of the following documents would promote objectivity within an organization's internal audit activity?

AInternal audit charter.

BInternal audit manual.

CAudit committee charter

DHuman resources employee handbook.

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Correct Answer: A

The internal audit charter is a formal document that defines the purpose, authority, and responsibility of the internal audit activity. It establishes the internal audit activity's position within the organization, authorizes access to records, personnel, and physical properties relevant to the performance of engagements, and defines the scope of internal audit activities. Final approval of the internal audit charter by the board ensures that there is a clear understanding and agreement on how the internal audit activity should function, thus supporting objectivity in carrying out its duties. Reference: The Institute of Internal Auditors (IIA) - International Standards for the Professional Practice of Internal Auditing

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