Most Recent IIA-CIA-Part1 Exam Questions & Answers

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 Dec 22, 2024.

Viewing page 1 out of 151 pages.
Viewing questions 1-5 out of 757 questions

Get All 757 Questions & Answers

Question No. 1

Prior to commencing a financial compliance engagement, the engagement supervisor reads the business plan for the finance department and meets informally with the director to learn more about any key issues. Which of the following competencies is the engagement supervisor demonstrating?

AThe ability to inspire trust

BThe ability to communicate effectively

CThe ability to display courage

DThe ability to understand the needs of stakeholders

Show Answer

Correct Answer: D

The engagement supervisor is demonstrating the ability to understand the needs of stakeholders. By reading the business plan and meeting informally with the finance director, the supervisor is actively gathering information about the department's goals, challenges, and issues, which is crucial for aligning the audit objectives with the stakeholders' expectations and ensuring the engagement adds value. Reference: Institute of Internal Auditors (IIA) - Core Competencies for Today's Internal Auditor

Question No. 2

Regarding assurance and consulting services provided by the internal audit activity which of the following statements is correct?

AThe nature and scope of a consulting engagement are determined by the internal audit activity based on its risk assessment

BThe nature and scope of an assurance engagement are subject to agreement with management of the area under review

CBoth assurance services and consulting services can be focused on controls or performance or both

DThe assurance engagement process ends with reporting

Show Answer

Correct Answer: C

The correct statement regarding assurance and consulting services provided by the internal audit activity is that both assurance services and consulting services can be focused on controls or performance or both. This reflects the flexibility and adaptability of internal audit functions to address varying organizational needs, whether in assessing the adequacy and effectiveness of controls, improving operational performance, or both. Reference: The IIA's International Standards for the Professional Practice of Internal Auditing on the nature of assurance and consulting services.

Question No. 3

The chief audit executive (CAE) has decided to outsource an audit of the organization's cloud governance in the annual audit plan. Why would the CAE outsource this audit?

ALack of internal audit staff proficiency.

BLack of audit planning.

CLack of internal assessments.

DLack of due professional care.

Show Answer

Correct Answer: A

The chief audit executive (CAE) may decide to outsource an audit of the organization's cloud governance due to a lack of proficiency within the internal audit staff. Cloud governance involves specialized knowledge and skills related to cloud technologies, security, compliance, and risk management. If the internal audit team lacks the necessary expertise to perform a comprehensive and effective audit in this area, outsourcing to external experts ensures that the audit is conducted with the required depth and quality.

IIA Standard 1210: Proficiency

IIA Standard 2070: External Service Provider and Organizational Responsibility for Internal Auditing

Question No. 4

An internal audit activity uses a rotational program to recruit high-performing staff members from other parts of the organization One of these individuals is nearing the end of her four-year internal audit rotation The chief audit executive assigned her to an assurance engagement in the business area she will be going into when she leaves the internal audit activity Which of the following statements is

true regarding this scenario?

AAccepting the assignment is a violation of internal audit independence

BAccepting the assignment will improve competencies and develop relationships that will be needed in her next assignment

CAccepting the assignment creates the appearance of an impairment to her professional judgment and detectivity

DAccepting the assignment on the assurance engagement would be a breach of due professional care

Show Answer

Correct Answer: C

Accepting the assignment creates the appearance of an impairment to her professional judgment and objectivity. This is because the individual is auditing an area where she will soon work, which could potentially influence her audit work, either consciously or unconsciously, due to personal interest in the future role. Reference: IIA Standards on Independence and Objectivity

Question No. 5

In which of the following situations has the internal auditor violated the IIA's Code of Ethics?

AAn employee confided in an internal auditor and told him about fradulent activities. Although the employee asked for confidentially, the auditor disclosed her identity later during police questioning.

BWhile auditing payroll controls, an auditor was granted temporary access to salary data. The auditor referred to the acquired information while negotiating her work conditions three months later.

CManagement considers an auditor to be highly competent and asked the audit to participate in an upcoming acquisition project. The auditor declined the request, calming a lack of knowledge.

DAn internal auditor failed to acquire the continuing education credits needed for the year and requested that. The IIA change his certification status to inactive until the completed the required education activities.

Show Answer

Correct Answer: B

In this situation, the internal auditor violated the IIA's Code of Ethics by using confidential information obtained during an audit (salary data) for personal gain (negotiating work conditions). This action breaches the confidentiality and objectivity principles outlined in the IIA Code of Ethics, which require auditors to refrain from using information for any personal advantage or in a manner that would be detrimental to the legitimacy or trust of the audit function. Reference: Institute of Internal Auditors (IIA) - Code of Ethics

Unlock All Questions for IIA IIA-CIA-Part1 Exam

Full Exam Access, Actual Exam Questions, Validated Answers, Anytime Anywhere, No Download Limits, No Practice Limits

Get All 757 Questions & Answers