IIA-CIA-PART1 ACTUAL DUMP | TEST IIA-CIA-PART1 PATTERN

IIA-CIA-Part1 Actual Dump | Test IIA-CIA-Part1 Pattern

IIA-CIA-Part1 Actual Dump | Test IIA-CIA-Part1 Pattern

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IIA-CIA-Part1 exam consists of 125 multiple-choice questions and has a duration of 2.5 hours. IIA-CIA-Part1 Exam covers a wide range of topics including internal control and risk, governance, fraud risks, ethics, and audit engagements. Candidates are expected to have a strong understanding of these topics to pass the exam.

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The IIA provides two main global certifications: Certified Internal Auditor (CIA) and Certification in Risk Management Assurance (CRMA). The CIA is the first accreditation and classification for internal auditors that the IIA suggests that all internal auditors pursue and have. The CIA not only shows your credibility as an internal audit expert, but it also gives you a competitive advantage over your peers. The CIA is a three-part exam that covers the understanding, skills, and abilities required by today's internal listeners.

As a professional accountant or auditor seeking to energize your profession, you may have considered earning an audit certification. But you have several options for qualifying in accounting, so which one should you choose? if you intend to go down the path of an internal auditor, after that, Certified Internal Auditor (CIA) is the certification for you.

IIA Essentials of Internal Auditing Sample Questions (Q175-Q180):

NEW QUESTION # 175
Which of the following is a weakness of observation as audit evidence?

  • A. It cannot be used to test the existence assertion.
  • B. It cannot be relied upon because the evidence is not persuasive.
  • C. It cannot be used to test the completeness assertion.
  • D. It cannot be used to test the occurrence assertion.

Answer: C

Explanation:
Section: Volume F


NEW QUESTION # 176
A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?

  • A. Information and communication.
  • B. Control activities.
  • C. Control environment.
  • D. Commitment.

Answer: C


NEW QUESTION # 177
An organization allows the same individuals to physical access inventory and purchase new assets when supplies are depleted. Which of the following would best help the organization manage the risk of fraud?

  • A. Accounting personnel should regularly perform reconciliation between invoices and purchase orders
  • B. internal auditors should review Vie frequency and volume of purchased assets to detect trends in the inventory levels
  • C. Accounting personnel should conduct a periodic inventory count and reconcile inventory movements
  • D. Management should established a policy requiring new inventory asset purchases to be made on serialized order forms with copies retained

Answer: C

Explanation:
For an organization that allows the same individuals to access physical inventory and purchase new assets, conducting a periodic inventory count and reconciling inventory movements is the best way to manage the risk of fraud. This approach ensures that inventory records are accurate and allows discrepancies to be identified and investigated promptly, thereby providing a check against fraudulent activities or errors. References: Best practices in internal control procedures for inventory management, as recommended by the Institute of Internal Auditors (IIA).


NEW QUESTION # 178
Regarding assurance and consulting services provided by the internal audit activity which of the following statements is correct?

  • A. The assurance engagement process ends with reporting
  • B. The nature and scope of an assurance engagement are subject to agreement with management of the area under review
  • C. Both assurance services and consulting services can be focused on controls or performance or both
  • D. The nature and scope of a consulting engagement are determined by the internal audit activity based on its risk assessment

Answer: C

Explanation:
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.References: The IIA's International Standards for the Professional Practice of Internal Auditing on the nature of assurance and consulting services.


NEW QUESTION # 179
Why is it important for the chief audit executive to periodically review the audit charter and present the results to senior management and the board?

  • A. So that the individual objectivity of the internal audit staff can be more clearly established.
  • B. Because changes in the organization may impair the internal audit activity's ability to meet its objectives.
  • C. Because management requires the review to measure effectiveness of the internal audit activity.
  • D. So that there is assurance of the internal audit staff's proficiency to complete audit activities.

Answer: B


NEW QUESTION # 180
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